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Continuing the momentum of gains, the market posted another positive session as buying demand entered actively from the start of trading, helping the VN-Index maintain its gains. The green in large-cap stocks helped the index reach a new high around 1,909.01 points.
Surpassing the historical peak of 1,900 points has boosted investor sentiment, raising expectations for new highs. In market outlook reports, most brokerage houses share the view that VN-Index is expected to continue trading near the peak, though volatility may appear ahead of rising selling pressure.
In consensus, Vietcombank Securities (VCBS) notes the VN-Index has potential to move around the 1,900 level and continue higher to seek new peaks.
VCBS recommends investors capitalize on intraday fluctuations to deploy capital gradually into stocks with good fundamental bases and in leading sectors such as Banking and Consumer.
Meanwhile, SHS (Saigon Securities) assesses that the short-term trend of the VN-Index remains above support around 1,850 points. With the positive impact of large-cap stocks, the index could continue toward the historic high of 1,900 - 1,920 points. VN30 is similarly seen around 2,100 - 2,120 points.
However, SHS is not certain the main index can break through this resistance zone. The analytical team notes the indices are entering a short-term overbought state and high-price selling pressure will rise.
In a market with strong sectoral divergence, positive trading is concentrated in a few leading stocks in short-term growth sectors such as real estate, port, electricity, rubber and standout private bank stocks. Investors may evaluate opportunities in the best growth stocks within these sectors. Investors must also manage risk as market valuations are not particularly attractive.
BVSC (Bao Viet Securities) says the risk of volatility and pullbacks could appear more as the market stays high in the absence of supporting information and stock groups remain differentiated by company-specific news.
It is likely VN-Index will form a new consolidation base around 1,900 points to absorb the large supply, before the expectation to break through the old peak of 1,920 points to set higher levels.
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