Selling pressure pulls VN-Index down nearly 23 points

On the Ho Chi Minh City Stock Exchange, after the opening hours, the market moved quite slowly. However, bottom-fishing pressure appeared in large-cap stocks, helping the VN-Index increase positively. At the end of the morning session, the VN-Index stopped at 1,651.76 points, up 12.11 points compared to the reference.

Banking stocks had the strongest impact on the market decline. Screenshot

In the afternoon session, the market maintained green for a short time before selling pressure overwhelmed buying pressure, causing the index to quickly reverse and decrease. Towards the end of the session, selling pressure increased sharply, causing the market to fall further.

Closing, VN-Index stopped at 1,617 points, down 22.65 points (-1.38%); VN30-Index lost 27.72 points (-1.47%), down to 1,857.64 points.

Market breadth was heavily tilted towards the downside with 240 stocks declining and only 88 stocks increasing. In the VN30 basket, the number of stocks declining (23 stocks) completely overwhelmed the number of stocks increasing (only 4 stocks).

Strong selling pressure spread, causing most industry groups to lose points, especially securities stocks. Most stocks in the industry fell, with CTS and VIX hitting the floor. However, with a decrease of 5.25%, SSI was the only securities stock among the 10 stocks with the most negative impact on the VN-Index.

Banking is the sector that has a strong impact on the market's decline, with up to 5 stocks in the group of stocks causing the strongest downward pressure. Specifically, TCB took away 2.33 points, VPB (1.92 points), STB, HDB and MBB took away 1.3 points, 1.11 points and 0.9 points respectively.

The decline of VN-Index was somewhat slowed down thanks to support from Vingroup stocks, especially VIC, when this stock alone contributed 4.11 points to the general index.

Total liquidity on the Ho Chi Minh City Stock Exchange reached over VND29,000 billion. Regarding foreign investors, they had a slight net selling session when buying nearly VND3,618 billion and selling approximately VND3,779 billion.

At the Hanoi Stock Exchange, the total transaction value reached nearly VND3,000 billion. The HNX-Index closed the session at 259.18 points, down 6.67 points (-2.51%); the HNX30-Index fell further with 22.88 points (-3.99%), down to 550.34 points.

Source: https://hanoimoi.vn/ap-luc-ban-keo-vn-index-giam-gan-23-diem-721969.html