Stock market commentary March 26: VN-Index heading towards price range around 1,340 points

► Some stocks to watch on March 26

The market is likely to be strongly differentiated between stock groups.

The research team of Bao Viet Securities Joint Stock Company (BVSC) said that the market fluctuated within a range of 10 points, but strong selling pressure around 1,340 points caused the VN-Index to significantly narrow its increase.

At the end of the trading session on March 25, VN-Index increased by 1.6 points, equivalent to 0.12% to 1,331.92 points. In contrast, Hnx-Index decreased by 1.44 points, equivalent to 0.59% to 244.56 points. Trading value on HOSE and HNX reached 22,397 and 980 billion VND, respectively. Foreign investors net sold 396.7 billion VND on HOSE and net sold 20.2 billion VND on HNX. The 3 codes with the most negative impact on the index were FPT (-0.88), VCB (-0.6), MBB (-0.29). The 3 codes with the most positive impact on the index were BID (+1), CTG (+0.64), GVR (+0.43).

Regarding the performance of industry groups, 8/11 industry groups increased. The strongest increase was in the Utilities group (+0.71%), due to the price increase of POW (+2.35%) and NT2 (+3.05%). Next was the Real Estate group (+0.61%), due to the price increase of BCM (+1.03%) and VHM (+0.35%).

Illustration: KT

According to Mr. Khieu Trong Huy, BVSC expert, the market developments will likely continue to have strong differentiation between stock groups when the next step is the season of announcing Q1 business results and the 2025 shareholders' meeting of enterprises. Cash flow has not shown signs of being withdrawn from the market and will likely continue to rotate through stock groups to seek profits.

"For short-term positions in the portfolio, investors can consider selling to take partial profits on stocks that have reached the expected price when the VnIndex approaches the resistance zone of 1340-1355 points. At the same time, manage risks for the remaining positions with trailing stop orders. For T+ trading activities, investors should only execute with available positions at times when the VnIndex adjusts to the support zone of 1320-1325 points during the session," Mr. Huy stated his opinion.

VN-Index tests strong support zone

According to the analysis team of Kien Thiet Securities Company (CSI), the market started off relatively excited but could not maintain its results until the end of the session when the large-cap group "ran out of breath". The VN-Index opened with a gap up nearly 5 points at the beginning of the session and maintained an increasing gap for most of the order matching time before sliding back to near the reference point in the final minutes of the session.

The weakness of pillar stocks was the main reason why the market could not break out despite the better performance of mid- and small-cap stocks. Once again, the index failed in its attempt to break through the 1,340-point threshold and stopped at 1,337.60 points. The positive point was that the index maintained its green color until the end of the session and the green color spread relatively widely instead of only in the large-cap group like the previous trading session.

Regarding the market perspective, the CSI expert group believes that the VN-Index will have its second consecutive increase and retest the strong resistance level of 1,340 points in today's session (March 26). Investors should still patiently wait for a strong increase with large liquidity to confirm overcoming the resistance level of 1,340 points.

"In the correction direction, we expect VN-Index to test the strong support zone (1,286 - 1,290) points, investors can disburse again when the index retests the above support level," CSI experts noted.

Investors should maintain a reasonable proportion.

According to the market research team of Saigon - Hanoi Securities Joint Stock Company (SHS), following the positive increase in the previous session, VN-Index created a price gap in today's session (March 26), continuing to aim for the price range around 1,340 points. VN30 is aiming for the resistance of 1,400 points.

The market is divided in this area with high selling pressure on stocks that have increased sharply, while recovering in stocks and groups of stocks that have been under adjustment pressure. After the price increase period, VNI-Index is still under pressure to restructure its portfolio as it is approaching the end of the first quarter of 2025, waiting for updates on fundamental factors and business results.

"In the short term, the total market capitalization is about 300 billion USD, equivalent to 63% of GDP in 2024. This is also not an attractive price range to increase investment proportion. Especially when VN-Index has had a good price increase period from 1,220 points to the price range around 1,350 points," SHS expert analyzed.

Therefore, SHS experts recommend that growth expectations should be based on the prospects and business results of enterprises. Prioritize focusing on stocks with good fundamentals and expected business growth. Some groups of stocks expected to have growth in business results in the first quarter of 2025 are livestock, banking, securities, rubber, industrial parks, etc. Investors should maintain a reasonable proportion. Investment targets are stocks with good fundamentals, leading in strategic industries, and outstanding growth of the economy.

Source: https://vov.vn/thi-truong/nhan-dinh-chung-khoan-263-vn-index-huong-den-vung-gia-quanh-1340-diem-post1163785.vov