The stock market opened in the green, reclaiming the 1,500-point mark. However, after about 30 minutes, the market experienced turbulence, causing the index to fluctuate around the reference point. In the latter half of the morning, selling orders gained dominance, pushing the VN-Index into the red. The index lost this important psychological level, at one point nearing 1,488 points – 19 points below the reference point.
The market remained negative into the afternoon session, but the decline began to narrow. For most of the afternoon, the HoSE index hovered around 1,500 points. While buying and selling pressure were relatively balanced, the market couldn't surpass the reference point. At the close, the VN-Index settled above 1,502.5 points, down over 5 points from the previous day.
Market consensus was low, with the general index declining, but the number of gaining stocks on the HoSE still outnumbered declining stocks, with 169 and 150 respectively. 21 stocks hit their ceiling prices, all of which were mid- and small-cap stocks.
The VN-Index continued to be negatively impacted by the VN30 basket. The VN30 index lost over 15.5 points, with 16 stocks declining, closing above 1,615 points. VIC and VHM contributed the most to the decline, followed by VCB and another VinGroup stock, VPL.
Conversely, buyers sought out individual stocks and sectors with unique narratives. SHB, VPB, BCM, VIX, and GEX became supporting stocks, helping to prevent a deeper fall in the general index.
Simultaneously, securities stocks, a group highly sensitive to market prospects, also performed well. SHS increased 6% with liquidity exceeding 1 trillion dong. Stocks like SSI, VND, VCI, and HCM also accumulated gains between 1% and 3%.
Liquidity on the HoSE improved by nearly 1,500 billion dong, reaching over 43,400 billion dong. Supply and demand were relatively balanced, indicating that cash flow is seeking individual stocks or groups with specific narratives. This trend was not only observed in the general market but also within individual sectors, such as banking, where the sector index remained flat.
After a strong buying spree the previous day, foreign investors returned to net selling, offloading approximately 1,919 billion dong on the HoSE. They heavily sold CTG, VPB, FPT, HPG, and KBC. Conversely, foreign investors continued accumulating VIC, HAH, and NVL.
This was the T+2 session following the 64-point drop that surprised many investors. According to expert forecasts, the market is likely to experience differentiation from this afternoon and especially in the next session. High liquidity levels indicate that cash flow hasn't completely withdrawn from the market but may be awaiting clearer signals to determine the trend.
Regarding today's developments, Vietcombank Securities (VCBS) suggests that 1,500 points could be a crucial support level for the current market. Their analysts recommend that investors maintain their positions in stocks currently in their portfolios that are recovering from support levels or the 20-day moving average (MA20). Investors could also consider exploratory investments in stocks attracting speculative capital during market fluctuations.
Tat Dat
