Stock market recovery helps VN-Index regain more than 11 points

Right in the early morning, positive sentiment led the market with a series of high-priced bids in the finance, banking, and securities sectors. Very quickly, the green color spread to other sectors. (Photo: Vietnam+)

On February 4, the stock market recorded a positive recovery after yesterday's plunge.

At closing, VN-Index increased by 11.65 points to 1,264.68 points; HNX-Index increased by 3.12 points to 226.61 points; UpCoM-Index increased by 0.8 points to 95.31 points.

Right in the early morning, positive sentiment led the market with a series of high-priced bids in the finance, banking, and securities sectors. Very quickly after that, the green color spread to many other sectors. In the morning alone, the market witnessed more than 300 stocks increasing in price and in that positive atmosphere, technology and telecommunications stocks also regained green after the recent plunge.

At the end of the morning trading session, VN-Index increased nearly 8 points and reached over 1,260 points.

In the afternoon trading session, large cash flows continued to be pushed into the market, thanks to which the VN-Index had a strong increase and regained almost all the points lost before.

In the market, the codes CTG, HPG, TCB, MBB, VCB led and influenced the VN-Index's growth the most during the session.

Today, most industry groups increased in price. Of which, stocks in the hardware, financial services, and raw materials sectors were the industry groups with the strongest increase in capitalization.

The total market trading value reached VND16,981 billion, equivalent to 776 million shares. Of which, foreign investors continued to net sell VND972 billion.

According to the Weekly Market Strategy Report of MB Securities Company (MBS), before the Lunar New Year holiday, the stock market increased for two consecutive weeks (after adjusting to the 1,220 point area). In particular, some groups of stocks increased strongly in sync with the market, such as banking, securities, retail, logistics, natural rubber, technology, etc.

Technically, MBS's analysis team said that VN-Index gained more than 45 points in those 2 weeks and surpassed important moving averages (50-day, 100-day and 200-day). Therefore, the market will face resistance (from October 2024) and the scenario is that VN-Index can retest the support zone of 1,250-1,257 points, where important moving averages are present.

HANH NGUYEN (Vietnam+)

Source: https://baohaiduong.vn/thi-truong-chung-khoan-hoi-phuc-giup-vn-index-lay-lai-hon-11-diem-404487.html