Market Trends: Heading to the old peak
- Vietnam stock market had the 6th gain in row on the first session of the week, thanks to the booming of large-cap stocks. In which, the banking group plays a leading role.
- Ending session, VN Index gained 21.36 points, or +1.56% and closed at 1,394.09. The liquidity continued to improve with a trading value of VND22,791 bn, for 764mn shares traded. Surprisingly, foreign investors reversed to buy more than VND 426 bn net.
- Banking stocks accounted for and led the VN Index as contributing more than 11.5 points. In which, TCB (+4.54%) and CTG (+5.26%) took the lead along with the MVP of the day VIC (+0.52%). On the contrary, NVL (-0.48%), LGC (-6.45%) and BCM (- 0.89%) were the tickers that had the most negative impact on the index but had negligible influence on the index's gain.
- In general, market start the bullish signal since the Southern provinces reopened last week. Up to now, the epidemic situation seems positive as daily new cases declined and is still under control of the health system, which also help accelerating market momentum.
- Technically, VN Index continued to break through and surpass the strong resistance level of 1,380. The MACD and RSI are also consolidating bullish momentum. The next resistance point will be the historic peak of around 1,420 level. However, partial profittaking pressure may also occur