Domestic stock market fell sharply at the beginning of the week

Notably, the group of fertilizers and shipping was sold off, lying on the floor at the same time. However, many experts are not too concerned when the main index is at the strong support level of the past 3 months.

VN-Index dropped 1,450 points in the morning session with pressure from large stocks such as banks, securities, steel… thought there would be a bottom-fishing signal in the afternoon, but the demand appeared extremely weak. Commodity stocks gained hotly and continued to decline sharply, especially many fertilizer codes lying on the floor.

Mr. Ngo Minh Duc, Director of LCTV Financial Investment Joint Stock Company, said: “The Russia-Ukraine war is entering the negotiation phase to reduce tensions, which causes the prices of commodities and metals. There has been a correction in the world in the last 2 sessions. Therefore, the speculative cash flow of commodity stocks will withdraw and cause the stocks of this group to fall into a correction state, however, I think it will be difficult. There will be a deep decline in the coming sessions, if oil prices maintain an average above 90 USD/barrel.

Although closing in red filled the electrical panel with a strong decrease, in general, in the past 3 months, the “Sideway” trend of VN-Index is still more positive than the general movement of world stocks.

Mr. Nguyen Trung Du, Director of Investment Services and Asset Management, Tan Viet Securities Joint Stock Company, commented: “If we look at markets like the US, Europe or major Asian markets like Japan, South Korea…, all markets are at 1-year lows, which means they’ve broken the 3-month, 6-month support level and went down. sideway… Now that the market’s score is bigger, a drop of 20-30 points everyone should look at as a percentage, for example, the current decline is only about 1.5%, it’s not too big.”

Technically, VN-Index currently has a strong support level of 1,420 points, the bottom-fishing demand today was not large enough, but there are some real estate stocks that attracted cash flow. In the short term, the market’s adjustment and differentiation pressure still exists, so experts recommend investors to increase the proportion of cash to disburse when there are opportunities.

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