Selling pressure intensified, causing the VN-Index to fall sharply at the end of the session.

The stock market experienced significant volatility on April 24th as selling pressure increased, particularly in blue-chip stocks. The VN-Index fell by more than 17 points, liquidity weakened, and foreign investors made a sharp net sell-off, reflecting a cautious sentiment amid numerous short-term risks.

Increased selling pressure on blue-chip stocks caused the VN-Index to plummet by more than 17 points, liquidity weakened, and market sentiment became cautious.

The trading session on April 24th unfolded as predicted, with volatility emerging right from the start and red dominating the trading board. Despite brief rallies in the afternoon, increased selling pressure on large-cap stocks caused the overall index to weaken significantly.

At the close of trading, the VN-Index fell 17.07 points, or 0.91%, to 1,853.29 points. This decline was significantly sharper than the morning session, when the index lost only 7.95 points. Notably, the index briefly breached the 1,850-point mark in the early afternoon before recovering slightly towards the end of the session.

Market liquidity continued to decline sharply, reflecting cautious capital flows. The total value of matched orders on both the HoSE and HNX exchanges reached only VND 18,106 billion, a decrease of 36% compared to the previous session and the lowest level in the last 13 sessions. The HoSE exchange alone recorded over 673.8 million shares traded, equivalent to VND 19,347.9 billion, a decrease of over 30% in both volume and value.

Notably, market breadth improved slightly compared to the morning session, with 135 gainers and 188 losers on the HoSE. However, this improvement does not fully reflect the strength of buyers, as most of the rising stocks belong to the mid- and small-cap groups with low liquidity. Many stocks only require a few hundred million to a few billion dong to push prices up, making the fluctuations unsustainable.

Meanwhile, the VN30 basket continued to disappoint, playing a role in dragging down the market. As many as 19 out of 30 stocks in this basket declined in the afternoon session. The three major stocks, VHM, VIC, and VCB, all weakened sharply, subtracting more than 14 points from the VN-Index. Specifically, VHM fell by 5.2%, VCB lost 3.5%, and VIC decreased by 1.1%.

The banking sector, particularly state-owned stocks, faced significant selling pressure. VCB, CTG, and BID all recorded a sharp increase in trading volume in the afternoon, but this was accompanied by deeper declines, indicating that selling pressure prevailed. This group also had a major impact on the overall index, contributing to the sharp drop in the VN-Index.

Conversely, some stocks maintained their gains but were not strong enough to support the market. Within the VN30 basket, only a few stocks saw significant increases, such as TCB (+2.85%), GVR (+2.3%), and VJC (+3.2%). However, these gains were insufficient to offset the downward pressure from large-cap stocks.

Cash flow tends to shift towards mid-cap stocks, but only a few highly liquid stocks. Some notable examples include NVL, up 1.3% with trading volume exceeding VND 640 billion, TCH up 2.34%, DXG up 2.76%, and GMD up 1.08%. However, this phenomenon is localized and has not yet formed a clear trend.

Small-cap stocks continued to show strong divergence. Some stocks like TDH, VNE, and C32 maintained their gains, while many others rose 3-5% with relatively positive trading volume. However, on the downside, selling pressure remained dominant, with many stocks experiencing sharp declines, such as PC1 falling 6.9% to its floor price, along with a series of others like DCM, SJS, and KDC dropping 4-5%.

On the HNX exchange, the HNX-Index also fell 1.28 points (-0.51%) to 251.95 points. Trading volume reached over 74.6 million shares, equivalent to VND 1,275.5 billion. The market was relatively volatile, with a fairly balanced number of gainers and losers. However, some stocks experienced significant fluctuations, such as AAV, which fell by the maximum allowed limit of 10%.

Meanwhile, the UPCoM-Index fell 0.6% to 127.54 points. Liquidity remained low with nearly 46 million shares traded. A few bright spots included HNG, which rose 6% with outstanding trading volume of over 11.6 million units, and DRI, which increased by more than 5%.

On the derivatives market, the VN30F1M futures contract fell slightly by 4.2 points to 2,015 points, indicating that cautious sentiment still prevails among investors. The warrants market also plunged into the red, with many codes experiencing sharp declines.

Notably, bargain hunting emerged in the afternoon session, evidenced by improved liquidity in the midcap and smallcap groups. However, this demand was not strong enough to create widespread impact. Much of it was short-term speculation, concentrated on a few individual stocks.

The low liquidity environment, coupled with the upcoming long holiday season, is making investors more cautious. Furthermore, risks from external factors, especially new developments related to geopolitical tensions, are also causing capital to tend to stay on the sidelines.

Nevertheless, considering the entire week, the VN-Index still recorded an increase of 36.12 points, equivalent to 1.98%, marking the fifth consecutive week of gains. This shows that the medium-term trend has not yet been broken, although short-term correction pressure is increasing.

In the current context, choosing to stay on the sidelines or invest cautiously is considered a reasonable strategy, especially when opportunities are limited and volatility risks remain in the market.

Source: https://thoibaonganhang.vn/ap-luc-ban-dang-cao-vn-index-giam-manh-cuoi-phien-181116.html