Stock market on upward trend for three consecutive sessions

October 15, 2022 | 18:24

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The VN-Index rose 11 points in the last session of the week, levelling up the index to 1,062 points (from 1,000 points) after three sessions only.

Stock market on upward trend for three consecutive sessions

After two gaining sessions in the middle of the week, some securities companies believed that the VN-Index had bottomed at 1,000 points, so they changed their recommendations from outside observing to selective buying stocks with good fundamentals. The positive reviews and the negative sentiment of individual investors gradually decreased, enabling the market to have an exciting session and extend the upward trend.

The market had 336 advancers, three times the number of decliners. Large-cap codes in the financial-banking group including VCB, MBB, ACB, VIB, and BVH were the strongest support for today's gain when they accumulated over 2 per cent. MWG and GVR were also among the top contributors to the general index when increasing by 4 and 2.8 per cent, respectively.

The green colour also dominates among oil and gas stocks, securities, fertiliser, and construction. Some of them reached the ceiling price, and no longer have sellers.

On the opposite side, three stocks related to Vingroup fell to hold the increase of VN-Index. VIC lost 1.2 per cent, VRE, and VHM dropped 1.6 and 1.7 per cent, respectively.

On Friday, foreign investors spent more than VND1.25 trillion ($54.3 million), and gained VND1.04 trillion ($45.2 million), continuing the chain of net buying for six consecutive sessions. HPG, SSI, and VNM are the best-buy codes.

Cash flow into the stock market enhanced significantly compared to Thursday, reaching nearly VND14.5 trillion ($630 million), which is the second high this week.

DGC took the lead in terms of liquidity, as nearly 5 million shares were traded, equivalent to more than VND470 billion ($20.4 million). STB, HPG, SSI, and VND ranked next in terms of matched value at about VND380-450 billion ($16.5-19.5 million).

On Friday, foreign investors spent more than VND1.25 trillion ($54.3 million), and gained VND1.04 trillion ($45.2 million), continuing the chain of net buying for six consecutive sessions. HPG, SSI, and VNM are the best-buy codes.

In general, this week, the stock market had four gaining sessions and one falling session. Although it failed below the 1,000 points mark at times, the impressive recovery chain helped VN-Index to accumulate 26 more points compared to the end of last week.