TCB and CTG stocks record longest winning streak in history

After rising more than 70 points, it fell again, which was not enough to cause the bank stocks VCB(HM:), MBB(HM:), TCB(HM:), CTG(HM:), VIB(HM:)…. to increase the circuit breaker. . After the Vietnam Index fell 1.6 points on January 9, the stock market broke the record of seven consecutive trading days of gains.

The HoSE index moved away from the 1,160-point mark amid renewed selling pressure on some banking and real estate stocks. In the same situation, large groups such as stocks and steel also closed down.

Within the banking group, VCB, CTG, TCB, MBB, MSB were 5 of the 10 tickers that had the most positive impact on the VN Index during Tuesday’s trading. On the contrary, BID (HM:), ACB (HM:), VPB (HM:) entered the negative top 10.

Liquidity across all 3 exchanges reached nearly VND 21 trillion. Compared with previous transactions, banking transactions dropped significantly, but still reached a transaction volume of VND3.57 trillion, trailing only the real estate category (VND4.470 billion).

In addition to pulling the index higher during the rally and supporting the index during the correction, bank stocks have also been the share class with the strongest growth in market liquidity over the past five trading days (+96%).

The most eye-catching among them is SHB banking stock, which has led the market liquidity for 4 consecutive trading days. In the last 9 trading days, the stock has risen in 7 trading days and been stable in 2 trading days.

What’s even more impressive is that three bank codes, including CTG, MBB, and TCB, have just established the longest price increase chains since their listing (6, 8, and 9 trading days respectively), with corresponding increases of 11%. , 13% and 12%.

Or stocks like VCB and VIB also had a series of 6 consecutive gains (+9% and +7%). The longest consecutive rises for these two stocks are 7 and 8 times respectively.

With the impact of the sudden credit growth at the end of 2023, although the full-year target has not yet been achieved, the immediate addition of hundreds of billions of VND to the economy in December 2023 alone has helped banking system commodities benefit. Additionally, the story of heavy selling of banking stocks by foreign investors last year for nearly VND13.7 trillion has made valuations for many tickers in the sector currently attractive.

Over the past 3 trading weeks, the value of banking stocks (especially the VN30 basket) has increased by 10-15%, which has had a positive impact and helped the VN index rise by more than 70 points.

Recently, profit-taking pressure has begun to appear. However, top stocks such as VCB, TCB. CTG, MBB…have not been “subdued” yet.

>> Bank A stocks have risen for 10 consecutive trading days and the outlook for growth remains long-lasting.