Many stocks changed from “green” to “green floor”, VN-Index lost nearly 11 points
Opening the stock trading session on May 16, the market prospered right from the beginning of the session. VN-Index sometimes increased more than 30 points, up to 1,215 points. However, the gaining momentum weakened from 10 am, then reversed to decrease in the afternoon session.
Closing the session, VN-Index closed at 1,171.95 points, down 10.82 points (-0.91%) compared to the previous session. Liquidity dropped sharply to only 584 million shares, worth 14,578 billion dong.
The number of gainers on HOSE was even greater than the number of losers, 232 vs. 224 respectively. However, only 7 stocks went to the limit compared to 41 stocks that fell to the floor. Similarly, VN30 only had 11 losers compared to 16 gainers, but the index also dropped 0.71% as losers all fell sharply, specifically, 2 big stocks, MSN and STB, fell to the floor and GAS and BVH fell above the limit. 5%.
Many other large stocks gained strongly in the morning session but closed at floor price, such as GEX, DPM, DXG, HSG, VHC, DCM, HAH.
The highlight of this morning is stocks of securities companies. SSI and VND in the morning hit the ceiling and closed up 5.8% and 3.2% respectively. HCM, ART, APS, CSI closed at ceiling price, SHS and VIG close to ceiling price.
Banking group was divided, while SGB, NVB, TPB, BVB, CTG, MBB increased, KLB, STB, SHB, TCB decreased.
In contrast, on HNX, HNX-Index increased by 1.54% to 307.05 points. The stocks that contributed the most to the gain on the HNX were NVB, SHS, CEO, and APS.
Today’s market movements are similar to that of securities companies. Securities companies all think that VN-Index will retest the level of 1,200 points, and in an unfavorable case, it will drop back to about 1,130-1,150 points.
According to experts, the market will probably recover after making a bottom at the threshold of 1,150 – 1,160. Experts say that investors should not sell-off this week, but patiently wait for the market’s recovery to restructure their portfolio.
According to statistics, foreign investors are continuously net buying recently, when the market dropped sharply. Last week, foreign investors disbursed 9,750 billion dong while selling less than 8,100 billion dong, meaning a net buying value of approximately 1,700 billion dong. This is the strongest net buying in the past three weeks by foreign investors.
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