The VN-Index rallied strongly this morning, approaching 1,480 points, in line with many securities firms' predictions of continued momentum. However, the market reversed course in the last 30 minutes of the session as profit-taking pressure suddenly surged in many blue-chip stocks. The benchmark index of the Ho Chi Minh City Stock Exchange (HOSE) consequently lost nearly 10 points, closing at 1,460.
Strong selling pressure resulted in approximately 200 declining stocks, while fewer than 140 stocks advanced. The large-cap basket was predominantly red, with 25 out of 30 stocks closing below their reference prices.
Bank stocks weighed most heavily on the market. VCB fell 1.6% to 61,400 VND, leading the list of stocks negatively impacting the VN-Index. BID, TCB, VPB, ACB, HDB, and TPB also declined by more than 1%.
The oil and gas sector experienced similar profit-taking pressure, causing most component stocks to reverse from gains to losses. POW lost 1.8%, while two other pillar stocks, GAS and PLX, lost 0.7% and 0.5%, respectively.
The real estate sector showed strong divergence, with many large and mid-cap stocks such as VIC, VHM, VRE, KDH, and NVL closing lower. Conversely, some small-cap stocks like LDG and HDC still hit their ceiling prices, closing the session with no sellers.
The securities sector showed a similar trend, with BSI, VCI, and VDS declining 1.2% to 2.4%, while SSI, VND, VIX, and HCM all rose by over 1%. SBS, a securities stock trading on the UPCoM exchange, even hit its ceiling price, surging 14%.
Thanks to strong foreign investor inflows, SSI served as a significant support, preventing a steeper market decline. The stock briefly hit its ceiling price of 31,800 VND before narrowing its gains and closing at 30,500 VND, up 2.5%.
Following SSI on the list of stocks positively impacting the VN-Index were LPB, MWG, SSB, and SAB. These stocks rallied strongly in the morning session but closed with gains of only 0.1% to 2% in the afternoon.
Trading volume on HOSE reached over 34,500 billion VND, about 3,000 billion VND higher than the previous session. Cash flow was distributed across many sectors, resulting in six stocks recording a trading value of over one trillion VND. SSI led this group with 62 million shares traded, worth 1,935 billion VND. Following SSI were HPG, SHB, VCI, VND, and VIX.
A positive sign is that foreign investors have been net buyers for 10 consecutive sessions. Today, they poured in 3,845 billion VND while selling less than 2,730 billion VND. They focused their investments on DXG, VPB, SSI, and SHB.
According to some securities firms, market volatility is inevitable as the index approaches a strong resistance level (1,480 points). Investors are advised to take partial profits and limit new purchases during this period. New investments can be considered during subsequent corrections, focusing on stocks in leading sectors such as banking, securities, and real estate.
Phuong Dong
