Net selling pressure from foreign investors remains strong, but the VN-Index recovers thanks to bargain hunting.

The market faced strong selling pressure, especially from foreign investors, and at one point fell below 1,210 points. However, strong buying at the bottom helped the VN-Index recover. A glimmer of green returned, although the VN-Index still declined slightly.

The market faced strong selling pressure, especially from foreign investors, and at one point fell below 1,210 points. However, strong buying at the bottom helped the VN-Index recover. A glimmer of green returned, although the VN-Index still declined slightly.

The VN-Index experienced a "forgettable" trading week, falling by 2.71% and closing in the red in 4 out of 5 sessions. At the start of the new week, red dominated. The index briefly edged above the reference level before reversing. Selling pressure eased somewhat in the early sessions, and there were occasional recoveries. However, overall demand remained weak, and stop-loss pressure emerged as the recovery wasn't strong. Numerous sectors saw stocks fall, widening the index's decline. The VN-Index retreated to around 1,200 points. Foreign investors accelerated selling from the start of the session, acting as the main driving force. In the morning session alone, they net sold over 1,100 billion VND.

The afternoon trading session was completely opposite to the morning. At the beginning of the session, strong selling pressure pushed the VN-Index down further. However, a surprise occurred later when bargain-hunting demand emerged, along with a slowdown in selling pressure from foreign investors. As a result, the indices recovered significantly. At one point, the VN-Index even rose above the reference level. Nevertheless, the VN-Index closed the session with a slight decrease.

At the close of trading, the VN-Index stood at 1,217.12 points, down 1.45 points (-0.12%). The HNX-Index rebounded, rising 0.26 points (0.12%) to 221.79 points. The UPCoM-Index increased 0.31 points (0.34%) to 91.64 points.

The overall market saw a fairly even number of gainers and losers, with 368 stocks rising and 340 falling, while 867 stocks remained unchanged or did not trade. Today's session still saw 12 stocks hit their lower limit while 24 stocks hit their upper limit.

Top 10 stocks with the biggest gains/losses on November 16th.

A series of stocks in the VN30 group continued to face strong selling pressure, being the main factor causing significant market volatility. However, strong support towards the end of the session helped this group regain balance, thus contributing to the overall market recovery. MWG continued to be the focus of the market, experiencing very strong selling pressure. MWG fell 1.7% to only 58,900 VND/share. At one point during the session, MWG dropped to 57,100 VND/share, a loss of up to 4.7%.

Besides that, PLX, VCB, BID, VNM, BCM... also plunged into the red. VCB fell 0.76% and was the stock that deducted the most points from the VN-Index with 0.95 points. MWG ranked second on the list of stocks negatively impacting the VN-Index, deducting 0.35 points.

Conversely, strong recovery occurred in stocks such as TPB, SSI, VHM, STB, CTG... Among them, VHM increased by 1.4% and contributed 0.58 points to the VN-Index. CTG and TPB increased by 0.6% and 2.56% respectively, contributing 0.26 and 0.25 points.

SSI rose 1.46% today and was also among the top stocks positively impacting the VN-Index. Not only SSI, but many stocks in the securities sector also recovered well, helping to alleviate investor pessimism. Other securities stocks that saw strong gains included CTS (up 4%), MBS (up 3.8%), HCM (up 3.6%), and AGR (up 3.4%).

In the real estate sector, a recovery also occurred. Specifically, TCH surged to its ceiling price, NTL increased by 4.4%, DXG by 1.9%, PDR by 1.5%, and NVL by 1.44%.

One stock that attracted attention in today's session was KBC, which unexpectedly dropped to its lower limit at one point. At the close of trading, KBC was down nearly 6%. Previously, on November 15th, KBC announced its decision to issue discounted shares to strategic investors. Specifically, the company plans to offer 250 million shares, equivalent to 32.57% of the outstanding shares. The selling price will be only 80% of the average closing price of the past 30 sessions and no less than VND 16,200 per share, 41% lower than the current market price.

Despite a significant market recovery towards the end of the session, liquidity remained quite weak. Total trading volume on the HoSE reached 646 million shares, equivalent to a trading value of VND 15,557 billion, a decrease of 16.6% compared to the previous session. Block trading value on the HoSE reached nearly VND 2,100 billion, down 10%. Trading values on the HNX and UpoM were VND 955 billion and VND 590 billion respectively.

Foreign investors continued to sell heavily.

VHM was the most actively traded stock today with 924 billion VND. Following that, MWG and SSI had trading values of 703 billion VND and 600 billion VND respectively.

Foreign investors sold a net total of VND 1,460 billion across the market, with the strongest net selling in SSI shares at VND 269 billion. Following that, VHM saw net selling of VND 243 billion. MWG, HDB, and MSN all experienced net selling exceeding VND 100 billion. Conversely, STB topped the list of net buying, but the value was only VND 33 billion.

Source: https://baodautu.vn/ap-luc-ban-rong-tu-khoi-ngoai-van-manh-vn-index-hoi-phuc-nho-cau-bat-day-d230323.html