Bank stocks will dominate the market

The stock market increased from the beginning of the session when dozens of banking stocks and some large stocks increased in price. The excitement was maintained throughout the morning session, pushing the VN Index to the resistance level of 1,290 - 1,300 points. Foreign capital also agreed with domestic investors to return to net buying.

However, selling pressure appeared in the early afternoon session, causing the market to gradually decline. The prices of many bank stocks fell into the red zone, then spread to many other stocks.

Notable bank stocks with price decreases include: TCB (-0.4%), STB (-1.6%), MSB (-1.5%), MBB (-0.3%), ACB (-0.2%), VIB (-0.5%), TPB (-0.8%),SHB (-0.4%)...

Some stockbrokers said that recently, the price of banking stocks has increased quite a lot. Therefore, in the past 2-3 trading sessions, short-term investors have sold some stocks of this industry to take profit, strongly affecting the market trend.

However, VCBS Securities Company believes that the selling pressure of bank stocks and many other stocks is not too great. Meanwhile, the demand is still present, so the market is somewhat balanced.

As a result, on October 10, the VN-Index still increased by 4.5 points, closing at 1,286 points.

With the current developments, VCBS Securities Company recommends that investors take advantage of fluctuations to increase the proportion of stocks that have just entered an uptrend in the transportation, seaport, oil and gas groups, etc., and at the same time take profits from some stocks that have reached their profit targets.

Source: https://nld.com.vn/chung-khoan-ngay-mai-11-10-giu-tru-de-keo-xa-co-phieu-196241010164544657.htm