VIC and Banking families lead, VN-Index increases more than 10 points

VIC and Banking families lead, VN-Index increases more than 10 points

The Rise of Banking

The market opened in a positive atmosphere, following the recovery of US stocks the night before. According to BOS Securities JSC, the VN-Index increased by 7 points right from the start of the session, led by the explosion of penny stocks such as TBM, FCM, SMC, TNT, along with GEX and the trio of VIC (VIC, VHM, VRE). Near lunchtime, the index jumped nearly 11 points when PLX and BCM - large-cap stocks - joined the game, consolidating the increase. BOS recorded 279 stocks gaining points in the morning session, of which the VIC and VCB groups contributed up to 50% to the general index, showing that cash flow quickly focused on familiar pillars.

However, the notable point is that liquidity has decreased sharply, reflecting the cautious sentiment of investors. VCBS also commented that, although the VN-Index has increased strongly, the low volume has not shown a certain recovery. This suggests a reality: the increase mainly comes from selective demand, not spreading widely in the market. The rise of VIC, which is associated with separate growth stories, along with the comeback of VCB, has created a rare bright spot in the general context of many reservations.

In the afternoon session, the market faced challenges when selling pressure increased sharply. BOS said that VN-Index sometimes fell close to the reference level when many large stocks such as FRT, CTR, DGC, GVR plummeted. The midcap group and some bluechips such as MSN, FPT were also under similar pressure, causing the green color to narrow significantly. However, the reversal scenario appeared 10 minutes before the closing order matching time (ATC), when the banking group suddenly rose. STB led with an impressive increase of 3.66%, along with MBB and TCB, coordinated with VIC, helping the index bounce back and close 10.47 points higher than the reference.

VCBS emphasized that strong buying power poured into large stocks, especially banks and VIC, was the decisive factor for the 0.8% increase of the VN-Index. However, the total liquidity of the session only reached 15 trillion VND, with 308 green stocks and 133 falling stocks, showing that the cash flow was not really abundant. Foreign investors continued to net sell more than 442.51 billion VND, focusing on SSI and MSN, further highlighting the dependence of the index on domestic investors. From here, the market seems to be entering a period of clear differentiation between stock groups.

Recovered but not stable

Technically, both BOS and VCBS believe that the VN-Index is in a technical recovery phase after the previous sharp decline. According to BOS, the index has successfully filled the gap from March 31, closing at 1,317.13 points, regaining the area above the neckline of the triple top pattern. In the time frame (1H), the RSI indicator recovered from the oversold zone, combined with the MACD creating a crossover point above the signal line, indicating that the recovery phase will continue in the next session. However, the CMF indicator at -0.04, according to BOS, reflects that active demand is still weak, making the increase not really convincing.

On the daily chart (1D), VCBS commented that the VN-Index created a green candle, pulling back from the support level of the lower Bollinger Band, showing that demand has responded when many stocks have discounted enough in the short term. However, low volume makes both securities companies agree that the index may fluctuate around 1,316-1,320 points in the next few sessions, before determining a clearer trend. This sets up the scenario: the market needs more time to verify the strength of demand, especially in the context of weak liquidity and the prevailing cautious sentiment.

Looking more broadly, BOS believes that Asia-Pacific stocks will recover following Wall Street, but investors remain cautious ahead of the US retaliatory tariffs on April 2. Domestically, the leadership of the VIC group (VIC, VHM, VRE) and banks (STB, MBB, TCB) is creating momentum for the VN-Index to return to the sideways range of 1,320-1,340 points. BOS recommends that investors take advantage of the recovery to restructure their portfolios, reduce the proportion of stocks that have broken the uptrend, and increase the proportion of stocks with growth stories in the first quarter of 2025 or that still attract cash flow such as real estate.

VCBS also shares the same view, saying that the index needs more signals from cash flow to confirm the trend. With low liquidity and foreign investors continuously net selling (more than VND 462 billion according to BOS), the market has not escaped the tug-of-war state. However, the consensus of banks and VIC in this session is a bright spot, opening up opportunities for astute investors. Will the uptrend continue when liquidity has not improved? The answer lies in the developments of cash flow and international variables in the coming days.

Source: https://thoibaonganhang.vn/ho-vic-va-ngan-hang-dan-dat-vn-index-tang-hon-10-diem-162130.html