Banking Stocks Boost VN-Index to ‍Session High

VN-Index closed at 1,276.99⁤ points, up 8.51 points, driven by a surge in banking stocks, despite VIB shares ‍being net⁤ sold over ​VND ⁣2,700 billion.

The stock market experienced a quiet morning session on ⁤September 24, but demand ​increased sharply‌ in the afternoon, ⁢particularly for blue-chip stocks, with banking stocks being the most prominent.

VN-Index closed at⁤ its session high, with improved liquidity indicating a ⁣return of investment cash flow to‍ the market. Notably, 19 out of 27 banking stocks ⁤increased, including NAB (+4.17%), SSB (+3.45%), STB (+3.41%), VPB (+1.05%), and VIB (+3.24%). The​ market saw 256 increasing codes, 95 ⁣reference⁣ codes, and 119 decreasing codes.

Foreign investors returned to net selling, primarily due to VIB stock transactions. VIB shares alone were net sold over VND 2,700⁣ billion,‍ with an agreement transaction of 148 million shares. On HOSE, this stock also had extraordinary matching transactions with over 19.6 million units⁤ changed hands.

Market Outlook

Commenting on the next session, Mr. Vo Kim Phung, Head of Analysis Department at BETA Securities Company, stated that the market​ is sending positive signals with improved liquidity and ⁤returning cash flow,⁤ strengthening investor confidence. Investor sentiment is optimistic,⁤ showing confidence ⁤in the⁢ market’s⁤ recovery and growth.

“During this period, investors can consider increasing their ⁣stock proportion, especially⁣ for⁢ codes ‌with good fundamentals that have not increased strongly in recent times. ‌However,⁣ they should not chase stocks ⁣with any price,” Mr. Phung advised.

Experts from SHS⁤ Securities⁢ Company believe​ that in the short term, the market​ is entering the period ending⁣ the‌ third⁤ quarter of 2024, and stock buying positions should be based on business⁤ results. Investors who maintain a reasonable proportion can⁣ consider increasing and expanding their portfolio of codes that have not recovered ⁣much, with a price range equivalent to the VN-Index area of 1,250 points.

When choosing stocks, securities⁤ companies recommend targeting industry-leading stock codes with good fundamentals and‍ positive growth prospects for third-quarter‌ business results.