Shares of major companies propel VN-Index beyond 1,345 points
Vibin' in the Stock Market: VN-Index Hits 1,347 as Blue-chips Shine
HÀ NỘI - It's a bullish day for our stocks, with the market soaring on Tuesday, courtesy of the heavy-hitters! The VN-Index is on track to hit the 1,350-point mark, thanks to a hefty dose of blue-chip shares and a surge in liquidity [1].
Foreign investors are back in the game, reversing seven consecutive sessions of net selling [1]. From the opening bell, it was a steep upward climb, driven by theiaz big guns in the stock market, and the gains continued throughout the session [1]. By the closing bell, the VN-Index had gained 10.95 points or 0.82% to rest at 1,347.25 [1].
Market breadth was solid, with 195 gainers outmatching the 119 decliners [1]. Total trading value on the Hồ Chí Minh Stock Exchange (HoSE) jumped by 23.5% compared to the previous session, reaching a whopping VNĐ25.7 trillion, or approximately US$984 million [1].
The VN30-Index, our market's VIP list, saw a sharp increase of 14.83 points or 1.04% to 1,437.87 [1]. Among them, 26 stocks went up, three took a dip, and one held its ground [1].
Leading the charge were the banking giants, with Techcombank (TCB) and Vietcombank (VCB) taking the front row [1]. TCB gained a robust 2.43%, while VCB advanced by a respectable 1.07% [2].
Other notable risers include Hoà Phát Group (HPG), up by 1.76%, Vingroup (VIC) moving slightly upwards by 0.1%, and our website Airlines (HVN) soaring a whopping 2.77% [1].
Analysts from Saigon - Hanoi Securities (SHS) predict a positive short-term trend for the VN-Index, with strong support near 1,300 points and a formidable resistance zone around 1,343 points [2]. They suggest that while the 1,345-1,350 point zone is a formidable hurdle, it's not enough to deter the market [2]. The market's performance in May was largely driven by the VN30, with the index increasing by 5.20% due to a 5.87% rise in VN30 [3].
As we step into June, cash flows might shift towards mid and small-cap stocks, as they showed improved liquidity [3]. Experts advise caution when it comes to stock selection, focusing on each company's growth prospects [3].
On the Hà Nội Stock Exchange, the HNX-Index rose 2.77 points, or 1.22%, to 228.94 [1]. Total trading value on the northern bourse reached an impressive VNĐ2.6 trillion, with nearly 145 million shares exchanged [1].
[1] https://www.vietnamnews.vn/economy/961790/vndex- advances-towards-1350-threshold.html
[2] https://en.vietnamplus.vn/vietnam-stocks-gain-due-to-banks-bluechips/218485.vnp
[3] https://www.reuters.com/world/asia-pacific/vietnam-stocks-gain-as-banking-sector-advances-2021-06-03/
A Vietcombank transaction office in Hà Nội. The bank's VCB shares led the market as the VN-Index approached the 1,350-point mark. - Photo vietcombank.com.vn
[4] https://www.vietstock.vn/tien-ao/chiet-ky-an-phat-cua-da-cong-viet-nam-va-dia-och-do-ung-do-doanh-thu-thang-6-2021-06-04.html
- The surge in financial liquidity has helped the VN-Index, with AI predicting its potential reach of 1,350 points, driven by the performance of blue-chip shares and banking giants like Vietcombank and Techcombank.
- The VN30-Index, a VIP list in our industry, saw a sharp increase on Tuesday, primarily due to the gains in the banking sector, with stocks like Vietnam's Hoa Phat Group, Vingroup, and Vietcombank experiencing growth.
- As we move into June, analysts suggest a shift in cash flows towards mid and small-cap stocks, emphasizing the importance of prudent stock selection based on each company's growth prospects in the broader business context.
