Net buying and selling trend of stocks last week

VN-Index has just experienced a volatile trading week with the deepest drop since mid-June (down nearly 25 points on August 1).

At the end of the week, VN-Index closed with an increase of 9.64 points to 1,236.6 points (+0.79%). This was also the only index to increase compared to other stock markets in Asia in the session of August 2.

Not only in Asia, global stocks mostly ended the week in red. In particular, Vietnamese stocks made a spectacular comeback, surprising investors.

The total average trading value last week on all three exchanges reached VND16,850 billion, up nearly 5% compared to the previous week but still lower than the 5-week average.

Data from Fiintrade also shows that individuals sold strongly last week, focusing on bank stocks including: VCB, TCB, MBB, BID, STB...

Specifically, based on matched transactions, individual investors net sold more than VND1,400 billion. Domestic institutional investors net sold VND217 billion. In contrast, foreign investors net bought VND573 billion and self-employed investors net bought VND1,113 billion.

Regarding stock groups, the positive contribution to the market's increase last week was food and beverage, typically codes: VNM (+8.66%), HAG (+0.41%)...

The banking group was also quite positive with: VPB (+1.9%), TCB (+3.3%), SSB (+2.96%), NAB (+5.9%), BID (+3.24%), VCB (+1.6%)...

According to SHS securities analyst, the short-term trend of VN-Index remains negative after the unsuccessful recovery to retest the resistance zone around 1,255 points.

"The market started August with a gap in corporate information after the second quarter reports were released," said SHS experts. Therefore, the market will depend largely on the growth prospects of large-cap companies and GDP growth.

Short-term and medium-term investors are advised to maintain a reasonable, average weight and consider restructuring to reduce the weight of stocks with business results in the second quarter of 2024 that are not as expected. Instead, restructure to leading enterprises with good fundamentals and good business growth results, exceeding expectations.

What are the business results for the second quarter of 2024?

Stocks are expected to catch the wave before entering the financial reporting season for the second quarter of 2024. Many experts have commented that with the expected better profit growth rate of the whole market, stocks will also benefit.

However, the reality is not as expected. VN-Index is falling deeper and deeper after efforts to surpass the peak of 1,300 points.

Data from Fiintrade , as of the afternoon of July 31, 2024 (the deadline for submitting reports), 986 enterprises (representing 96% of the total capitalization value on the 3 exchanges) have announced financial reports for the second quarter of 2024.

In particular, the after-tax profit in the second quarter of 2024 of the whole market increased by 25.6% compared to the same period in 2023 and increased by 12.8% compared to the first quarter of 2024, higher than the growth rate achieved in the previous first quarter.

This suggests corporate profits are on track to recover from the bottom set in Q3-2023.

In the second quarter, the financial group achieved a 21.3% increase in profit compared to the same period last year, including banking (+21.9%), insurance (+12.5%) and securities (+10.9%). For banks, the industry-wide growth came from the group of "top" private banks in terms of equity size (MBB, VPB, TCB) while the group of state-owned commercial banks (VCB, CTG, BID) recorded lower growth than the industry-wide average.

The non-financial sector contributed significantly to the overall profit growth of the entire market in the second quarter. The sudden growth due to the very low comparison base of the same period last year was one of the main reasons, for example in the steel, construction, telecommunications, gas, fertilizer, textile and garment industries and industries that depend on domestic consumption demand (including retail, milk, beer).

In addition, large financial income from transferring projects or subsidiaries in many residential real estate businesses (NVL, DXG, DIG) also supported the overall growth of the non-financial group.

In contrast, profits in some sectors continued to decline year-on-year, including electricity, oil and gas production, and chemicals, while oil and gas equipment and services, water, industrial real estate, and livestock unexpectedly saw profits reverse from growth in the first quarter to decline in the second quarter.