The stock market opened with gains, but this momentum from the previous day's increase quickly faded. The VN-Index soon fell below its reference level as early selling pressure emerged. Throughout the morning, the main index primarily fluctuated around the 1,640-point mark.
The market showed signs of improvement in the afternoon, supported by the real estate sector and some other blue-chip stocks. The main index briefly returned above its reference level at the start of the ATC session, but this recovery was modest, and the index quickly dipped back into the red.
The VN-Index closed down over 1 point, settling near 1,655 points. Market breadth remained negative, with 204 stocks declining, accounting for over 57% of the total listed on HoSE.
The securities sector posted the weakest performance of the day. VIX was a notable decliner, adjusting by 5.1% with a trading volume of over 1,586 billion dong, leading the market in value. This stock also contributed significantly to the VN-Index's decline. Other stocks like SSI, VCI, SHS, VND, MBS, EVF, and FTS also fell by 1-2%.
The banking sector showed more divergence, yet red still dominated. HDB dropped 1.9%, and LPB fell 1.5%. TCB, VCB, EIB, VIB, and MBB also adjusted by less than 1% from their reference levels. The banking industry contributed five representatives to the top 10 stocks negatively impacting the main index: VCB, TCB, BID, HDB, and LPB, respectively.
Conversely, the "Vin" trio—VIC, VHM, and VPL—acted as a significant support, preventing a deeper market correction. VPL surged by 3.5%, VHM gained 1.5%, and VIC accumulated 0.7%. The VN-Index also received support from STB, FPT, and VJC.
Liquidity on HoSE slightly improved by over 400 billion dong, reaching nearly 20,100 billion dong. However, for more than half a month, the market has not recorded a total trading value exceeding 1 billion USD.
Following yesterday's net buying session, foreign investors returned to net selling, offloading approximately 588 billion dong. VIX was the most heavily net sold stock, with over 704 billion dong, alongside MBB and MWG. Conversely, foreign investors actively accumulated FPT and VPB.
Overall this week, the VN-Index still managed to gain nearly 19.5 points. This marks the second consecutive week the market has accumulated points. However, liquidity remained low. Capital flow showed rotation, tending to seek out stocks with unique narratives rather than sector-based investments.
In its pre-trading bulletin, VPBank Securities (VPBankS) advised investors to continue taking profits and maintain a portfolio allocation of 40-60% in stocks. They recommended prioritizing risk management for stocks that have seen rapid increases or are near resistance levels. Furthermore, investors should avoid chasing rallies when the market lacks consensus on liquidity and leading sectors.
Tat Dat
