This is very possible and very easy to do right out of the box. I can’t example everything you’ll need to do in this post since that’s what the docs are for, but this will give you an idea of the source organization you’ll need…
.
├── content
│ ├── _index.md
│ └── blog
│ ├── my-first-post.md
│ └── my-second-post.md
└── layouts
├── _default
└── index.html
You’ll also need layouts, etc, obviously…
But index.html will pull content and front matter from _index.md plus whatever templating you put in.
I would recommend doing the Quick Start since it does more or less exactly what you’re looking to do. Also hugo new will scaffold all the directory structure you need…
HTH.