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Stocks plummeted after the holiday

Large-cap stocks were sold strongly and cautiously bottom-fishing cash flow caused VN-Index to drop more than 18 points, to the lowest price range of four sessions.

In the investment strategy report before today’s session, many analysts expect that VN-Index is likely to continue to recover to 1,380 points. The gaining momentum is expected to come from bottom-fishing cash flow from large-cap stocks with positive business results but strongly discounted prices in recent times.

However, the reality is completely different. Blue-chips were subject to the strongest selling pressure from the opening to the close, becoming the main factor causing the Ho Chi Minh Stock Exchange’s representative index to lose 18 points to close at 1,347 points – the lowest price range in four sessions. The 10 stocks that had the most negative impact on the general index were all in the VN30 basket, of which 6 were banking codes, with a common range of 2.5-4.8%.

Initially, small and mid-cap stocks were upstream from the VN30 group. However, the selling pressure spread quickly and widely, causing many codes of banking, securities, real estate, steel, fertilizer… also reversed to below reference in the last minutes of the session. The total number of stocks that fell on the Ho Chi Minh Stock Exchange today reached 300 stocks, of which 16 stocks lost all range.

Stocks related to FLC Group such as FLC, ART, AMD, KLF, HAI all decreased in range and had no buyers. ROS performed the best in this group but also lost 4.9%, close to the price range of 5,000 VND. Some codes related to Louis Holdings such as TGG, BII, VKC also fell to the floor.

On the other side, oil and gas stocks strongly attracted cash flow and simultaneously increased compared to reference. The three large-cap codes of the oil and gas industry all appeared in the list of the most important pillars of the VN-Index, especially POW hit the ceiling and there were no sellers. The construction group was also positive when CTD, HCB and VCG all gained over 4%.

Investors monitor the price list at Yuanta Vietnam Securities Company.  Photo: Quynh Tran

Investors monitor the price list at Yuanta Vietnam Securities Company. Photo: Quynh Tran

The market had the fourth consecutive session with a transaction value of no more than 20,000 billion dong. Today, investors only changed hands with 528 million shares, equivalent to 14,450 billion dong – 4,000 billion dong lower than last week’s session. The VN30 basket was sold strongly today, but the matching order was less than 5,000 billion dong. With a matched value of more than 630 billion dong, HPG is far ahead of the stocks ranked later in the liquidity ranking.

Foreign investors bought 620 billion dong but sold more than 920 billion dong, marking the gloomiest trading session so far this year. This group focuses on selling DGC, TCB, FPT and HPG.

According to Yuanta Securities Vietnam Company, the market is in a downtrend. However, the short-term sentiment indicator shows that investors have escaped the period of excessive pessimism, so the chances of gaining in the next sessions will gradually increase.

In the same opinion, the analysis team of Vietcombank Securities Company believes that the large cash flow is in a state of waiting to be disbursed again. It is estimated that the customer’s deposit balance at securities companies at the end of the first quarter is about VND 100,000 billion, showing that investors are not pessimistic about the market but are waiting for good-priced stocks to appear or the general market to have a negative impact. stronger discounts.


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