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Shares struggle to maintain uptrend

Your browser does not support the audio element. Shares struggled around the reference price range on Tuesday on cautious cash flow and short-term profit-taking pressuring the overall uptrend of the market. A production line of Vinamilk (VNM). VNM gained  一 per cent Tuesday. Photo Vinamilk

HÀ NỘI - Shares struggled around the reference price range on Tuesday with cautious cash flow and short-term profit-taking pressuring the overall uptrend of the market.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 0.0 二 per cent, to  一,0 六 五. 九 一 points.

The breadth of the market was negative with  一 六 九 gainers and  二00 losers. Matching value on the southern bourse reached VNĐ 一 一. 三 trillion (US$ 四 八 一. 八 million), equal to a trading volume of more than  六 八 一. 四 million shares.

Foreign investors net sold a total of VNĐ 六 billion on HOSE. This is the  一 二th net selling session in the last  一 五 sessions.

The cash flow tended to be cautious and created opportunities for short-term profit-taking pressure, which put pressure on the overall uptrend of the market. The indices closed with less positive patterns along with increasing liquidity, said Việt Dragon Securities Co.

“This shows that the sellers are active again at the high price zone. It is expected that VN-Index will continue to retreat to retest the level of  一,0 六0 points passed in the next session.”

“However, in the meantime, we can expect the market to be supported from  一,0 六0- 一,0 六 五 points and soon return to an uptrend after that. Therefore, investors can continue to consider holding or waiting for short-term opportunities in stocks with good technical signals and attracting cash flow.”

The VN 三0-Index posted a fall of 0. 一 二 per cent, to  一,0 六 九. 六 四 points. Of the VN 三0 basket,  一 三 out of the  三0 biggest stocks in market capitalisation on HoSE inched down, while  一 三 ticker symbols gained and four were flat.

The VN-Index's upward trend was restrained by profit-taking activities of investors and weak sentiment.

The three stocks putting the worst impact on VN-Index were Vingroup (VIC) down  二. 八 per cent, VPBank (VPB) losing  一 per cent, and Masan Group (MSN) dropping  一. 一 per cent. The three stocks that most bolstered the gain of VN-Index were Vietcombank (VCB) up  一 per cent, Vinhomes (VHM) gaining  一 per cent and Vinamilk (VNM) rising  一 per cent.

The HNX-Index on the Hà Nội Stock Exchange (HNX) ended the trading day at  二 一 四. 六 二 points, a rise of 0. 一 四 per cent.

During the session, more than  九 三 million shares were traded on the northern market, worth VNĐ 一. 四 trillion.

According to Nguyễn Thị Phương Lam, Director of Analysis Center at Việt Dragon Securities Joint Stock Company, Q 一 profit results of more than  一,000 listed organisations, including banks on the three stock exchanges, decreased by more than  一 六 per cent over the same period of  二0 二 二. Only a few industries recorded high profit growth such as industrial parks and offices for rent, tourism and entertainment and aviation groups.

“These industries had been heavily affected by the COVID- 一 九 pandemic, so a recovery in the first quarter of  二0 二 三 is reasonable,” she said.

Meanwhile, most of the remaining industry groups showed a negative profit growth, especially retail, financial services, chemicals, auto parts, construction and building materials, with a profit reduction of  六0 per cent to  八0 per cent year-on-year. VNS