VN-Index to continue fluctuating at 1,380-1,400 points
A Vietcombank office in Bắc Ninh Province. VCB lost 2.3 per cent last week. — VNA/VNS Photo Thái Hùng
Analysts from securities companies forecast that the VN-Index will continue to fluctuate in the accumulation area from 1,380-1,400 this week, accompanied by an uptrend and a sharper pergence in the large-cap group.
The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0.32 per cent, to finish Friday at 1,389.24 points.
It recorded a weekly loss of 0.25 per cent last week.
An average of 757 million shares was traded on the southern exchange during each session last week, worth VNĐ22 trillion (US$968 million).
According to Vietcombank Securities Limited Company (VCBS), VN-Index mainly traded in a narrow range last week. Strong profit-taking pressure around 1,400 points made the VN-Index move sideways around 1,390 points in the first three days of the week without recording any significant increase or decrease.
Although short-term profit-taking pressure once again returned in the second half of the session on Thursday, the index was still not pushed back below 1,380 points. On Friday it once again returned to struggling trend around 1,390 points. However, the index recorded the second week in a row ending above 1,370 points, showing that investors are being quite optimistic about the current market, VCBS said.
Cash flow still seemed to be avoiding large-cap stocks, which have recorded outstanding gains compared to the general index in the first half of this year, it said.
VCBS expects that VN-Index will fluctuate and accumulate in the range of 1,380-1,400 points in the next few weeks, accompanied by an uptrend and a sharper pergence in the large-cap group.
Investors can look for short-term profit opportunities in the real estate and securities groups. Meanwhile, long-term investors can still take advantage of this "volatile" period to accumulate more target stocks, but should limit margin trading, it said.
According to Saigon-Hanoi Securities Co (SHS), the market adjusted slightly last week with the VN-Index continuously struggling around the psychological threshold of 1,400 points.
“The liquidity increased slightly and continued to be higher than the recent 20-week average, showing that selling pressure around 1,400 points was relatively strong, causing the market to retreat shortly after,” it said.
Foreign investors also had a strong net selling week with more than VNĐ3.5 trillion on the two exchanges, causing correcting pressure on the market.
However, with the VN-Index ending above the support area of 1,375-1,380 points, it is likely that VN-Index will continue towards the psychological level of 1,400 points in this week.
In the negative scenario, if the selling pressure increases, the VN-Index is likely to need to retest the nearest support zone in the range of 1,375-1,380 points, it said.
Banking stocks dropped the most last week with losers such as Vietinbank (CTG) falling 3.3 per cent, Vietcombank (VCB) declining 2.3 per cent, Asia Commercial Bank (ACB) dropping 1.9 per cent, Military Bank (MBB) losing 1.8 per cent, VPBank (VPB) down 0.8 per cent, Techcombank (TCB) falling 0.6 per cent and Bank for Investment and Development of Vietnam (BID) decreasing 0.5 per cent. — VNS
Related News

Securities 2025 expects a breakthrough in scale and quality
14:37 | 10/02/2025 Finance

Ensuring financial capacity of bonds issuers
11:09 | 26/12/2024 Finance

Ensuring reasonableness upon enforcement of regulations in "1 law amending 7 laws"
00:00 | 19/10/2024 Regulations

Important step to soon upgrade stock market
10:21 | 03/10/2024 Finance
Latest News

Personal income tax proposed for interest on some bank savings accounts
10:31 | 20/02/2025 Finance

Banks set for aggressive bond issuance in 2025 to fuel growth
16:20 | 19/02/2025 Finance

Central bank cuts interest rate on bills for first time in 2025
15:30 | 18/02/2025 Finance

Focusing on inspecting inventory of public assets at units with large and complex assets
16:31 | 15/02/2025 Finance
More News

The government seeks approval for revised GDP, CPI targets
16:28 | 15/02/2025 Finance

Fiscal, monetary policies support demand stimulation, price stabilisation
14:49 | 14/02/2025 Finance

Vietnam secures VND 157 billion from state enterprise divestment in 2024
09:16 | 14/02/2025 Finance

Vietnam gears up for potential inflation impact in 2025
14:26 | 11/02/2025 Finance

VN’s credit conditions in 2025 expected to be stable
14:24 | 11/02/2025 Finance

State revenue in first month of the year equal to 14% of the estimate
10:12 | 11/02/2025 Finance

Cash reserves in stock accounts at six-quarter low amid margin rise
08:23 | 10/02/2025 Finance

Five solutions for developing stock market in 2025
10:01 | 07/02/2025 Finance

Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday
14:43 | 04/02/2025 Finance
Your care

Personal income tax proposed for interest on some bank savings accounts
10:31 | 20/02/2025 Finance

Banks set for aggressive bond issuance in 2025 to fuel growth
16:20 | 19/02/2025 Finance

Central bank cuts interest rate on bills for first time in 2025
15:30 | 18/02/2025 Finance

Focusing on inspecting inventory of public assets at units with large and complex assets
16:31 | 15/02/2025 Finance

The government seeks approval for revised GDP, CPI targets
16:28 | 15/02/2025 Finance