The oil and gas sector maintained its bullish momentum for most of today's trading session. This was evident in strong gains, with some leading stocks like BSR, PVT, and PVD even hitting their ceiling prices. However, the trend abruptly reversed in the final half hour of the session. Selling pressure led all oil and gas stocks to close in the red, with common declines exceeding 5%.
Three oil and gas stocks were among the top 10 negative contributors to the VN-Index today. PLX and GAS led these declines, with their market prices hitting the floor and closing without any buyers.
Negative movements in the oil and gas sector were the primary factor causing the Ho Chi Minh City Stock Exchange's benchmark index to reverse course, shifting from a gain of nearly 30 points to a decline of 10 points by the end of the session. The VN-Index closed at 1.808 points, its lowest level in nearly one month.
Beyond oil and gas, the fertilizer sector also experienced significant profit-taking, leading to widespread declines. Key stocks like: DCM, DPM, and BFC fell by approximately 0,5-5% compared to their reference prices. Similar trends were observed in port stocks, with HAH losing over 5% by the close, while GMD and DVP declined by 2,2% and 0,6% respectively.
Earlier, several securities companies had advised investors to be cautious about the rapid surge in oil and gas, fertilizer, and port stocks. According to statistics from Thien Viet Securities (TVS), oil and gas stocks surged by approximately 70,4% in the first two months of the year, making it the best-performing sector in the market. However, the valuation of this group was no longer cheap, and investors risked "chasing the peak" if they continued buying.
In contrast to sectors "sensitive" to Middle East conflicts, those influenced by domestic factors performed better today. The securities sector saw dominant gains, with VND, BSI, AGR, VDS, and VCK all closing above their reference prices, and ORS hitting its ceiling price of 14.750 dong. Similarly, the real estate sector experienced increases in many stocks, including: VIC, VHM, KDH, HQC, and CII.
According to estimates from VNDirect Securities Company, four stocks related to Vingroup Group contributed nearly 17 points to the VN-Index today.
Liquidity on the Ho Chi Minh City Stock Exchange dropped significantly compared to the previous session, totaling only 35.000 billion dong. Large-cap stocks accounted for half of this amount. SSI led in matched order value with nearly 2.900 billion dong, followed by VIX, FPT, HPG, and SHB.
Foreign investors extended their net selling streak to three consecutive sessions. This group sold over 6.220 billion dong worth of shares while buying only about 3.100 billion dong. HPG was the focus of foreign selling, with a net volume of over 10 million shares.
Phuong Dong
