Sep 20, 2021 / 11:33

Vn-Index set to maintain positive trend to reach 1,380 this week

The securities company advised investors to buy in mid-cap stocks or blue chips and sell small-cap ones that have earned a sizeable profit for some time.

The fact that the benchmark Vn-Index has been on the rise for three consecutive weeks and passed the 1,350-mark is spreading a positive sentiment among the investors and shows promises of another week on an upward trend. 

 An investor at a securities company in Hanoi. Photo: Pham Hung

Last Friday, the stock market closed at 1,352.64, slightly up 0.54% against last week, while liquidity declined slightly to VND24.7 trillion ($1.08 billion) per session.

MB Securities Company (MBS) noted as the 1,350- psychological mark has been reached, there is a high chance that the Vn-Index could soon go up to 1,379.

In its baseline scenario, MBS expected Vn-Index to hover around 1,345-1,375 this week as liquidity goes sideways or increases by a small margin.

The securities company advised investors to buy in mid-cap stocks or blue chips, and start selling small-cap ones that have earned a sizeable profit for some time.

Sharing the view, Vietcombank Securities Company (VCBS) called for investors to purchase stocks with healthy financial status and stable growth in the remainder of 2021.

“Investors should sell stocks that have met their profit expectation to protect their gains,” VCBS said.

Yuanta Securities Company expected the capital inflows to soon pour into large-cap stocks in the coming sessions.

“The market continues to stay upward in short-term prospects, given the positive sentiment at the moment, as such, investors may expand their portfolios in time the market goes through a correction period,” it added.

The Viet Dragon Securities Company (VDSC), meanwhile, gave a more cautious observation as saying the VN-Index has surpassed the resistance level of 1,350 but the market still moved cautiously when stepping back slightly from the high range of 1,356.

“Liquidity surged strongly versus the previous sessions and was above the 50-session average, showing that there was a strong dispute and reflected in the exchange-traded funds (ETFs)’ structure,” it asserted.

“We can still expect an extension of the market’s short-term uptrend from the level of 1,350 points. Hence, investors could follow the short-term uptrend, and consider disbursing in stocks that are in good price range,” stated the VDSC.

SHS Securities Company predicted the Vn-Index is set for the further rise and could move to the next resistance zone at 1,375-1,380 in case there is no setback in the first few trading sessions.

“A 1,380 target is within reach in a positive case, otherwise, failure to keep hold of the 1,350-mark would see the market fall back to 1,320-1,330,” stated the SHS Company.