Stocks are under profit-taking pressure.

The VN-Index closed the first trading session of the week in positive territory, but the gains narrowed compared to the beginning of the day, and the number of rising stocks was no longer dominant as profit-taking selling pressure intensified.

In their forecasts last weekend, most securities firms maintained an optimistic view that the market would soon head towards the 1,100-point resistance level. This has already happened in the first trading session of this week.

The VN-Index surpassed the 1,100-point mark after this morning's opening auction, extending its gains to nearly 13 points by mid-morning. The market was dominated by green, fueled by investor enthusiasm, with proactive buying dominating.

However, as trading progressed, selling pressure increased. The market encountered strong resistance as the VN-Index traded around its resistance level. Selling pressure on many recently rising stocks caused the gains to gradually narrow. In the afternoon session, the index's upward momentum decreased, and the number of rising stocks was no longer dominant.

At the close of trading, the VN-Index only increased by nearly 7 points (0.64%), stopping at 1,097.82 points. The VN30-Index increased by more than 4 points (0.38%) to 1,091 points. On the Hanoi Stock Exchange, the HNX-Index and UPCOM-Index narrowed their gains to near the reference level.

The VN-Index closed the trading session on June 5th up nearly 7 points. Photo: VNDirect — The VN-Index closed the trading session on June 5th up nearly 7 points. Photo: *VNDirect*

The number of rising and falling stocks on the HoSE is nearly equal, with approximately 200 stocks on each side. However, in the large-cap group, the number of rising stocks slightly outnumbered the declining stocks, with a ratio of 16:9.

Leading the market today were several banking, retail, and oil and gas stocks. VCB closed up 3.3%, the most actively traded stock in the VN30 group. According to Bloomberg , Vietcombank is seeking a consultant for a plan to raise approximately $1 billion to increase capital. The bank may offer 5% of its shares through a private placement. MBB, CTG, and VIB also closed in positive territory.

In the retail sector, MSN gained 2.5%, while MWG increased 1%. Oil and gas, petroleum, and electricity stocks such as PLX, GAS, and POW also traded positively.

In the mid-cap segment, steel, energy, some banking, and real estate stocks are in a similar situation.

Conversely, the real estate sector and some bank stocks led the market's decline. At the close of trading, GVR and NVL fell by over 2%, PDR lost 1.7%, and several bank stocks such as STB, VPB, TPB, andACB closed in the red.

Market liquidity remained high, with trading value on the HoSE reaching over 17,500 billion VND, of which the VN30 group alone accounted for over 6,000 billion VND. Foreign investors maintained a net selling position of nearly 150 billion VND.

Minh Son

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