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Banking stocks recover, VN-Index narrows downtrend


After the trading day that investors called “Black Monday” yesterday (April 25), the stock market continued to be under strong selling pressure when the index VN-Index sometimes falls close to 50 points. However, the rising demand for bottom-fishing in the middle of the session helped narrow the drop with the recovery of some important industry groups.

One point that has clearly improved in this morning is market liquidity. The cash flow was “bolder” so the trading value at the close of the morning session increased by nearly 35% compared to yesterday morning. Demand from foreign investors also increased markedly.

Foreign investors continue to collect share such as DPM, DGC, VNM… are at a price that is said to be attractive. Total net buying value of foreign investors reached nearly 685 billion dong. A statistic also shows that from the beginning of April until now, during a time of deep market decline, there has been an emergence of investors from Thailand and Taiwan (China) when continuously buying goods through ETFs. Net buying value is up to 1,000 billion VND.

The banking group returned to the role of leading the market up this morning. In which, BID was the most positively affected code with an increase of 2.3%. VPB, MBB, HDB… are other names in the top 10 contributing well to the uptrend, with a recovery of 2-3%.

Large-cap stocks blue-chips also attracted bottom-fishing cash flow, with more than 50% of stocks in the VN30 basket turning green. Major contributors included SAB increasing by more than 4%, VIC also recovering more than 1%.

At the end of the session, VN30 also successfully reversed the trend when gaining more than 1 point. However, the falling momentum from this group is also the factors that kept the market going down. VHM was the most negatively affected code with a drop of nearly 3.5%. VCB, FPT, MSN have not escaped the red color yet.

Industry groups that are under strong adjustment pressure such as seafood are still the minus point of this morning’s session. VHC, ACL, FMC, IDI… were still strongly adjusted from more than 3%. However, the positive point is that the situation of “laying on the floor”, white buyers like yesterday has improved, helping many narrowers to drop, signaling a recovery.

The cash flow surged at the end of the session, causing the VN-Index to sometimes surpass the reference and go green again. However, at this time, the sellers once again prevailed so the index still dropped. This shows that investor sentiment has not really prospered when there is some negative macro information from the world market, as well as before a long upcoming holiday.

VN-Index ended the morning session narrowing the drop to just over 3.8 points, at 1,307. More than 458 million shares were traded, equivalent to nearly 13,175 billion dong.

HNX-INDEX dropped more than 2.5 points to 334 points. Trading more than 63 million shares, equivalent to nearly 1,565 billion dong.

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