Widespread selling pressure caused the VN-Index to fall below the 1,700-point mark.

Selling pressure on a range of blue-chip stocks eased somewhat compared to the previous session's nearly 30-point drop, but a cautious sentiment continued to prevail across the market on December 11th. A sharp decline in liquidity and the absence of leading stocks caused the VN-Index to extend its correction, officially losing the crucial psychological 1,700-point mark by the end of the session.

VN-Index closed down 20.08 points.

Yesterday's sharp decline, with VIC hitting the floor limit and the RSI indicator turning away from the overbought zone, has led many forecasts to lean towards increased short-term risk. However, some believe the sharp drop was mainly due to the impact of a few large-cap stocks, and therefore a market-wide reversal to a downward trend is not yet confirmed. Nevertheless, caution remains the preferred approach, especially as VIC and VPL continued to hit the floor limit for most of the morning trading session, causing investors to stay on the sidelines.

In the afternoon session, the VN-Index briefly fell to near 1,690 points as almost no sector offered significant support. At this point, VIC unexpectedly narrowed its decline, helping the index recover above 1,700 points and reach 1,710 points, just 8 points below the reference level. However, this rebound was short-lived as cautious sentiment did not improve. Weak capital flows caused the index to quickly reverse course, experiencing significant fluctuations and retreating towards the 1,700 point area before closing.

Investors continued to adopt a "stay-on-the-side" strategy, while the weakening of large-cap stocks increased selling pressure towards the end of the day. At the close, the VN-Index fell 20.08 points, or -1.17%, a deeper decline than the morning drop of 12.64 points.

Statistics for the VN30 basket show widespread weakness with 25 out of 30 stocks declining, and only 3 rising. The banking sector recorded a clear downturn: TCB reversed course in the afternoon session, falling 0.89%; STB decreased 1.85%; VPB lost 2.93%, with a 1.75% drop in the afternoon alone.SHB and HDB were two rare bright spots, narrowing their losses.

The Vin Group continued to be the focus. VIC, thanks to the pull in the ATC session, only fell by 1.88%, a slight improvement compared to the morning. VPL moved away from the floor price but still fell by 5.01%. VHM and VRE both weakened further. This group alone deducted more than 7 points from the VN-Index.

Strong selling pressure dragged prices down to their lowest levels of the day, with 12 out of 30 VN30 stocks closing at their lowest points of the session, and 9 others only slightly higher. The VN30-Index fell 1.17% with 26 stocks declining, 13 of which lost more than 1%.

The entire HoSE exchange also recorded more negative divergence compared to the morning: only 104 stocks rose and 192 fell (compared to 126 rising and 154 falling in the morning). As many as 81 stocks fell by more than 1%, reflecting cautious sentiment and extremely weak demand.

Liquidity remained a key point of concern as cash flow declined sharply, indicating that downward pressure stemmed primarily from a lack of buying power rather than increased selling. However, towards the end of the session, selling pressure at lower prices increased, causing HoSE liquidity to rise 44% compared to the morning, reaching 8,065 billion VND.

Blue-chip stocks dominated the most actively traded stocks. VIC led the way with over 1.132 billion VND. Several stocks outside the VN30 index also traded over 100 billion VND, such as VPL, VPX, PDR, and PET, but most experienced significant declines.

On the upside, VIX surprised everyone by surging strongly after a weak morning gain, closing up 1.74% with nearly 580 billion VND in trading volume. BMP also hit its ceiling price in an impressive surge. Several other midcap stocks such as QCG, HQC, DBC, KBC, TTF, LDG, and NAF also recorded good gains.

Notably, VPX shares, a newcomer to the market, recorded an unfavorable debut session, falling by more than 9%, although at one point they lost nearly 23%, with a trading volume of over 7.2 million units.

At the close of trading, the VN-Index stood at 1,698.9 points. Total trading volume on the HoSE reached 592.5 million units, with a value of 16,224 billion VND, a decrease of 8% and 18% respectively compared to the previous session. Block trades contributed over 2,585 billion VND.

On the HNX, the HNX-Index edged down 0.24% to 255.87 points, with mixed performance among large and small-cap stocks. The UPCoM-Index unexpectedly surged strongly at the end of the session, rising 0.88% to 120.16 points, with gains spreading across many high-liquidity stocks.

On the derivatives market, the VN30F2512 contract fell 15.9 points to 1,919.1 points, reflecting cautious investor expectations. The warrants market also plunged into the red, with CTCB2509 leading in liquidity but down more than 30%.

The correction on December 11th continued to show cautious sentiment and a lack of large capital inflows. Although the 1,700-point mark was breached, analysts believe the impact from blue-chip stocks was too significant to assess the overall trend; however, the sell-off signals in the afternoon session indicate that short-term risk remains high.

Source: https://thoibaonganhang.vn/ap-luc-ban-lan-rong-vn-index-mat-moc-1700-diem-175002.html