The stock market saw significant volatility from the opening. The general index initially dropped to nearly 1,780 points during the morning session but later recovered to reach its daily high, close to 1,800 points. By midday, liquidity had gradually declined, registering 23% lower than the same period.
The afternoon session saw the stock market trading below its reference level, though it gradually improved. After a period of volatility around 2 p.m., the HoSE index rebounded. This surge was primarily driven by the "Vin duo," VIC and VHM, both of which hit their ceiling prices. The market briefly attempted to retest the 1,800-point mark but was unsuccessful.
However, during the ATC (At-the-Close) session, selling pressure intensified. Even with the Vingroup group providing support, the VN-Index ultimately fell below its reference level. The stock market closed above 1,782 points, marking a decline of nearly 9 points.
Across the HoSE, 254 stocks experienced price declines, a number three times greater than those that saw increases. This highlighted a strong market consensus towards selling. The resource, industrial, chemical, and technology sectors registered the lowest performance.
Individually, Vingroup and Vinhomes stocks were key market supports. VIC contributed over 14 points, and VHM provided approximately 5,5 points. Both stocks hit their ceiling prices, reaching market values of 130.100 dong and 97.600 dong per unit, respectively. They also demonstrated strong liquidity, each surpassing 900 billion dong, ranking second and fourth in the overall market.
Despite the market's high volatility, HoSE liquidity actually declined. The exchange's total trading value reached 26.100 billion dong, about 7.800 billion dong lower than the previous day.
The market also felt psychological pressure from foreign investors, who recorded net selling of approximately 1.251 billion dong, a 30% increase from the previous session. FPT was the most heavily net-sold stock by foreign investors, reaching 821 billion dong. They also divested from VCB, VHM, and ACB shares. Conversely, MWG was the only stock to experience net buying above one hundred billion dong.
In its end-of-session report yesterday, Vietcombank Securities (VCBS) suggested the VN-Index might be in a medium-term uptrend. The firm noted that a corrective fluctuation to find a new equilibrium around 1,780-1,810 points is essential for the market to resume a more sustained upward trajectory.
Given the current market conditions, the analysis group advised investors to identify stocks that are consolidating strong support and exhibiting increased proactive buying liquidity. They recommended phased disbursements during upcoming market fluctuations.
Tat Dat
