Individual investors spent more than VND5,000 billion - the highest since mid-May, to buy bank, real estate, steel, and securities stocks.
According to Fiintrade statistics, individual investors net bought VND5,076 billion on HoSE in the week of September 11-15. In terms of matching orders alone, they net bought more than VND3,781 billion. This is the strongest week of net buying by individual investors since mid-May 2023. Strong demand from this group has absorbed all the net selling force of foreign investors (including the participation of ETF funds), domestic organizations and self-employed.
Net buying by retail investors occurred in most key sectors, most concentrated in the banking, real estate, steel and securities groups. The most prominent codes that were absorbed best in each sector were STB, NVL, HPG and SSI. In addition, they also bought strongly in stocks such as MWG, FPT and GMD.
Among the sectors that individual investors have been heavily investing in, banking and securities have had the most positive developments last week. The banking group is considered to be creating waves, playing a supporting role for the index with well-maintained cash flow. On the contrary, real estate and steel have made strong adjustments and put pressure on the entire market. In particular, real estate stocks in this group experienced a "severely ill" week with strong selling pressure.
Small investors "collecting goods" strongly helps transactions on the market become more vibrant. The average liquidity per session on the three exchanges HoSE, HNX and UPCoM reached VND27,957 billion (only counting matching orders), up 7.2% compared to the average level of the previous week. If considering the last 5 weeks, this level increased by more than 17%. This average liquidity is only about 4% compared to the period when VN-Index reached its peak.
However, last week, every time liquidity increased, the HoSE index lost points and vice versa. According to Fiintrade, this shows that the market is under pressure from profit-taking selling pressure when most stocks are at their peak since the beginning of the year. The general sentiment of investors is still quite cautious when demand only appears at low prices. The market has not seen any significant supporting information, except for the oil and gas industry.
With the bottom-fishing cash flow still quite cautious, BIDV Securities (BSC) advises investors to trade cautiously in the coming sessions when the market has not yet confirmed a clear trend. Similarly, Vietcombank Securities (VCBS) recommends that investors should take advantage of the recovery to reduce the proportion of stocks with weaker performance than the market. This analysis group recommends limiting new purchases and only maintaining the proportion of stocks at 30-40% of the account to manage short-term risks as much as possible.
Forecasting the market next week, Saigon Hanoi Securities (SHS) said that the slight recovery session at the end of the week after two fluctuations will help open up more positive expectations for the VN-Index next week. However, this analysis group still noted that the index representing the HoSE floor may retest the support zones around the 1,215 point mark and further to 1,200 points.
In the medium and long term, VN-Index can maintain an uptrend when the index is still trading above the 1,150 point threshold. This unit believes that it needs more time to form an accumulation base before it can move towards a further level around 1,300 points.
Siddhartha
Source link
Comment (0)