The stock market initially dipped by approximately 18 points at the open. It then recovered, moving above the reference level. However, persistent selling pressure quickly pushed the VN-Index into negative territory, falling over 20 points before the midday break.

In the early afternoon, the benchmark index extended its losses, nearly 25 points below the reference. However, starting from 13:30, the market gradually improved, returning above the reference within 30 minutes. Despite volatility during the At-The-Close (ATC) session, the VN-Index closed above 1,804 points, marking an increase of over 22 points from yesterday.

Despite the index gain, the market experienced a 'green index, red stocks' scenario, with 152 declining stocks on the HoSE, outnumbering the 134 gainers. Selling pressure was concentrated in the construction and materials, resources, retail, and oil and gas sectors. In contrast, real estate and securities performed more positively.

According to VnDirect's calculations, the Vingroup stock duo provided the primary support for the market today. VIC and VHM collectively contributed nearly 16 points to the VN-Index's rise. Vingroup shares gained 2,8% to 223,000 VND per unit, with liquidity exceeding 890 billion VND, ranking 2nd across the market. Vinhomes shares saw a 5% increase to 142,800 VND, with liquidity surpassing 650 billion VND.

Investors monitor the stock market at a company in TP HCM. *Photo: Thanh Tung*

Conversely, stocks that weighed on the market included HPG, BSR, BID, PNJ, and HVN. PNJ shares traded at the floor price of 40,600 VND from late morning until mid-afternoon, with over 7,3 million units transacted. Nevertheless, active buying late in the session helped the stock price recover slightly to 40,900 VND, still reflecting a 6,3% decrease. PNJ recorded liquidity exceeding 600 billion VND today, with foreign investors continuing to net sell nearly 148 billion VND.

PNJ shares have lost nearly 35% of their market value due to the current decline. Consequently, the market capitalization of the leading jewelry company has been reduced by nearly 11,400 billion VND, causing PNJ to lose its status as a billion-USD company.

Reflecting the index's improvement, the total trading value on the HoSE reached nearly 19,300 billion VND. This figure represents a 25% increase compared to the previous session.

Foreign investors continued their selling trend, though the net selling value decreased to approximately 26 billion VND. Beyond PNJ, foreign funds also concentrated on divesting from SSI, FPT, VPB, and CTG. Conversely, VIC, ACB, and VHM were the three stocks that saw net buying exceeding one hundred billion VND.

In its pre-trading bulletin this morning, Beta Securities (BSI) indicated that the VN-Index remains in a short-term correction trend. Consequently, investors should exercise caution in 'day trading' activities and limit leverage usage.

Nevertheless, BSI maintains optimism regarding the accumulation of shares in fundamentally strong companies that stand to benefit from current macroeconomic policies. Additionally, sectors projected to report favorable business results in Q2 and the latter half of the year are also recommended for consideration.

Tat Dat