Nearly 300 stocks decreased

VN-Index went below reference all day. In the morning, stocks fluctuated strongly with three attempts to test the reference mark but all were unsuccessful. Near lunch break, the market became more negative when sellers dominated, more than 80% of stocks on HoSE decreased in price.

In the early afternoon, the overall index improved thanks to the support of a few pillar codes. However, the stronger downward momentum returned at the beginning of the ATC session. VN-Index closed at about 1,755.5 points, down 27 points compared to yesterday.

Market breadth tilted heavily to the downside when the entire HoSE floor had 292 stocks going backwards, accounting for nearly 85.5%. Throughout today’s session, the percentage of falling codes always remained around 70-80%. The industries with the worst performance are telecommunications, resources, retail, insurance, securities…

The gainers only recorded 55 stocks, of which Gelex Infrastructure’s GEL increased at full amplitude on the first day of listing. Thanks to that, utility services were the only group with an increase in the industry index.

Considering each stock, VCB is the code that has the worst impact on the VN-Index today, contributing more than 5.9 points to the decrease. Vietcombank’s stock code decreased by 4.8% to 65,100 VND per unit with a liquidity of over 1,600 billion VND, ranking 2nd in the market.

Followed by Vietinbank’s CTG, contributing more than 2 points to the decrease in the overall index. This stock is 3.1% lower than the reference, down to 37,400 VND per unit. In addition, the market is also influenced by HPG, VPL, HDB, VPB… On the contrary, VN-Index is supported mainly by GAS and VIC.

During the sharp correction in the stock market, liquidity also increased. The total trading value on HoSE reached nearly 35,200 billion VND, about 9,000 billion higher than yesterday.

Foreign investors raised their discharge chain to the 5th consecutive session. Today, the net selling value was recorded at about 920 billion VND. Among them, VCB led with a net sale of more than 610 billion VND, followed by VIC with a value of about 314 billion VND. In addition, foreign investors also discharged a lot in HDB, ACB, FPT, PNJ, VHM or CTG. However, they still spent hundreds of billions of dong to net buy MBB, HPG, STB, BSR, and VNM.

Thus, VN-Index fell more than 73.5 points this week, reaching nearly the 1,750 point area. The market has corrected for the third consecutive week. The loss of important support and the penetration of the 50-day moving average (MA50) today is causing great pressure on investor psychology.

However, in the news at the end of the previous session, VPBank Securities (VPX) said that declines are still an opportunity for long-term investors as many stocks have deep discounts, while short-term investors should still limit the use of margin. According to Vietcombank Securities (VCBS), VN-Index still maintains a medium-term upward trend, investors can take advantage of fluctuations to disburse selectively.