(NLDO) - The reversal and increase in points at the end of the session of VN-Index continued to bring investors expectations about the positive trend of the market.
VN-Index experienced a volatile trading session on March 11, affected by the decline of world stocks - especially the US market when key indexes simultaneously plunged more than 2%.
However, buying pressure from the afternoon session helped the index narrow the decline, preventing the stock sell-off, and even regaining green at the end of the session.
At the end of the session, VN-Index increased by 2.26 points to 1,332 points; HNX Index increased by 1.08 points to 240.58 points, while Upcom Index also increased by 0.24 points to 99.4 points.
Stocks in the securities, retail, real estate, steel, and plastic sectors performed positively, while stocks in several individual industry groups had a negative impact on the market, such as FPT, BVH, GAS, and BSR.
Stock market is heading for an 8th consecutive week of gains
Liquidity continued to remain higher than the 20-session average with total matched volume on the HOSE reaching 847 million shares, with a trading value of more than VND 21,300 billion on this floor alone.
Many investors said they were "shocked" when the VN-Index reversed course at the last minute. During the session, the market fell sharply to 1,316 points before rebounding and closing at the highest level of the session. The VN-Index is still at its highest level since May 2022.
Mirae Asset Securities Company believes that despite foreign investors net selling more than VND210 billion, the effort to increase points at the end of the session helped the VN-Index maintain positive momentum.
Commenting on tomorrow's trading session (March 12), Vietnam Construction Securities Company (CSI) said that today's increase shows domestic investors' expectations of an optimistic economic outlook, not being strongly affected by the decline of the world stock market.
VN-Index has been continuously rising in recent days.
"The VN-Index is expected to move towards the resistance level of 1,360 - 1,365 points. At present, it is not recommended to open many new buying positions but continue to sell, realizing profits when the VN-Index moves towards the above resistance level. New buying positions are only conducted with a small proportion and at a probing level in stocks that have just broken out from the previous accumulation level" - CSI experts said.
The stock market is heading for the 8th consecutive week of increase, experts from SHS Securities Company believe that the short-term trend of VN-Index will continue to increase towards the next price zone around 1,350 points. Short-term selling pressure is increasing in this zone after a period of continuous price increase.
"In the short term, this is not an attractive price range to increase investment proportion. If buying, investors need to focus on good quality stocks and control short-term risks" - said an expert from SHS Securities Company.
BSC Securities Company said that the VN-Index returned to close above the 1,330-point threshold, somewhat erasing concerns about yesterday's bearish reversal signal. However, investors should still trade cautiously.
Source: https://nld.com.vn/chung-khoan-ngay-mai-12-3-vn-index-tiep-tuc-gay-bat-ngo-196250311180210543.htm
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