After falling into the crimson worth zone, a bunch of enormous shares all of sudden reversed to extend in worth at the afternoon of October 17, serving to the marketplace building up once more.
On October 17, the inventory marketplace recorded a risky buying and selling consultation when the VN-Index opened with a mild inexperienced colour because of various particular person shares, particularly QCG which now and again hit the ceiling. On the other hand, after 10 am, the index dropped sharply, falling again to almost 1,270 issues.
At about 2:00 p.m., the marketplace recovered because of a powerful building up in call for, particularly from banking, securities and actual property shares after buyers won knowledge that the State Financial institution introduced the switch of 2 Obligatory buying financial institution: CBBank transfers to Vietcombank and OceanBank transfers to Army Financial institution (MB).
This creates constructive expectancies in regards to the balance and construction of the banking trade, selling a powerful building up in call for. Due to that, out of 27 banking shares indexed on HoSE, as much as 24 shares higher in worth once more.
As well as, after Ho Chi Minh Town introduced a brand new draft land worth checklist with a vital lower in comparison to the former draft, many shares in the true property crew additionally higher impressively: DXG (Dat Xanh) higher to the ceiling of seven %, PDR (Phat Dat) higher via 6.8%, NVL (Novaland) higher via 2.55%, DIG higher via 5.2%, NTL higher via 2.9%, VHM higher somewhat via 0.2%…
This upward momentum unfold extensively to different shares, particularly the VN30 crew, serving to the marketplace recuperate definitely.
On the finish of the consultation, VN-Index higher via greater than 7 issues, final at 1,286.5 issues, finishing the shedding streak of the former 3 periods.
On October 17 consultation, out of 27 banking inventory codes indexed on HoSE, there have been 24 shares that higher in worth.
Securities trade shares additionally recorded a slight building up, particularly HCM, SSI, VCI, and VND higher via 1-2%. In the meantime, actual property shares have robust differentiation.
Massive capitalization teams corresponding to DXG and PDR all reached the ceiling, whilst small and mid-cap codes had been nonetheless within the crimson, contributing to pushing up the costs of alternative actual property shares corresponding to NVL, DIG and VHM.
Marketplace liquidity remained at a good degree with transaction worth attaining 15,700 billion VND. Even if overseas buyers internet offered greater than 400 billion VND, the constructive sentiment of home buyers nonetheless prevailed. The biggest contribution to the rise in VN-Index got here from the banking and actual property teams, serving to the marketplace regain expansion momentum.
In accordance to a couple securities corporations, the October 17 consultation had a vivid spot within the consensus restoration of enormous inventory teams and the unfold of sure money go with the flow. On the other hand, the marketplace wishes extra time to amass and consolidate the upward momentum.
VCBS Securities Corporate recommends that buyers imagine expanding the percentage of shares that experience adjusted smartly, particularly codes within the banking and securities industries.