Bank stocks pull VN-Index to nearly 4-month high

BID, VCB and CTG along with a series of banking stocks became the main factors helping VN-Index surpass the important resistance level with an increase of more than 12 points.

After four sessions of fluctuations, the HoSE representative index almost increased in the last session of the week. VN-Index remained green all day and always traded higher than 1,170 points - previously considered an important resistance level when this index failed to surpass it many times.

The market was much more active, with liquidity at all time frames higher than at the same time yesterday. With many stocks increasing sharply or turning green in the afternoon, the VN-Index closed at 1,181.5 points, up more than 12 points compared to the reference.

The market is at its highest point since September 22, 2023, or nearly 4 months. In absolute terms, this is the strongest increase in the past half month.

On the entire HoSE floor, 306 stocks increased in price, much higher than 186 stocks decreased. The industries with the most positive contributions were banking, utilities, and chemicals.

Today, bank stocks led the increase in both industry index and liquidity. The trio of BID, VCB and CTG led the group of most positive contributors to the VN-Index with accumulated market prices of 4.9%, 1.6% and 3.5% respectively. In addition, the top 10 stocks with the highest increase also recorded TCB, MBB, VPB and ACB.

In addition, codes such as STB, MSB, VIB all increased by more than 1%. OCB accumulated another 2%, while EIB closed 2.3% higher than the reference.

Today, foreign investors had the strongest net buying session since the beginning of the year, reaching 179 billion VND. Thus, they have had 7 consecutive sessions prioritizing capital disbursement into the market. The top stocks with the strongest net buying by foreign investors include many banking codes such as STB, VPB, BID and VCB. In addition, they also bought many stocks of HPG, MWG, VHM.

The score increased but VNDirect noted that liquidity remained low, with the whole week having decreased by about 80% compared to the average of the last 20 sessions. At the end of today's session, the total transaction value on the HoSE increased by nearly 1,600 billion to about 14,800 billion VND.

Next week, this analysis group believes that the VN-Index will have a support level at 1,170 points and a resistance level at 1,200 points. In particular, banking stocks will remain the focus as cash flow continues to improve.

Siddhartha

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