Widespread selling pressure caused the VN-Index to lose more than 15 points.

April 3rd trading session: Widespread selling pressure, VN-Index loses over 15 points.

Investors heavily sold large-cap stocks in the banking, securities, and steel sectors, causing the VN-Index to lose 15.57 points at closing, falling close to the 1,270 point mark.

Following the reversal from a sharp decline to a slight increase on April 2nd, many analysts believe the short-term trend of the market remains positive accumulation. The VN-Index is expected to surge and surpass the 1,300-point mark thanks to abundant capital flows amidst low savings deposit interest rates.

However, today's session unfolded completely contrary to this prediction. The VN-Index was in the red from the opening, but the decline was relatively narrow, even briefly rebounding to the reference level. The index representing the Ho Chi Minh City stock exchange only gradually widened its decline towards the end of the morning session due to strong selling pressure. In the afternoon session, the index continued to fall sharply before closing at 1,271.47 points, losing 15.57 points, or 1.21%, compared to the reference level. This was the sharpest decline in the past half-month.

The number of declining stocks overwhelmingly outnumbered the number of rising stocks, with 368 and 130 stocks respectively. In the large-cap basket, all 30 stocks closed below their reference price, causing the index representing this basket to lose 18 points compared to the reference price.

A general decline was observed in the banking sector, with all stocks closing in the red. CTG led the decline with a 2.7% drop to VND 34,050, MBB fell 2.4% to VND 24,200, andVIB dropped 2.3% to VND 23,550.

Stocks in the securities sector also experienced significant negative fluctuations. Specifically, VCI lost 2.8% to 52,100 VND, SSI lost 2.2% to 38,050 VND, and HCM lost 2.2% to 29,250 VND.

Stronger selling pressure also emerged in the steel sector, with all stocks falling, including POM which hit the floor price of 4,670 VND after news of its mandatory delisting due to failure to submit financial reports for three consecutive years.

During the sharp decline, liquidity on the Ho Chi Minh City Stock Exchange reached 1.07 billion shares, a decrease of approximately 10 million shares compared to yesterday's session. The trading value reached VND 27,424 billion, a decrease of approximately VND 100 billion compared to the previous session. VIX led in trading volume with over 42.4 million shares changing hands, far surpassing the next highest-performing stocks: GEX (29.2 million shares), DIG (27.58 million shares), and STB (26.9 million shares).

The value of transactions conducted through negotiated deals in this session reached VND 2,200 billion, of which over VND 281 billion came from TCB shares and approximately VND 140 billion from MWG shares.

Foreign investors continued to sell off their holdings. They bought 57.2 million shares, equivalent to VND 1,781 billion, while selling 86.6 million shares, equivalent to VND 3,009 billion. The net selling value reached VND 1,227 billion. VHM faced the strongest selling pressure from foreign investors, with a net selling value of VND 177 billion, followed by VNM (VND 157 billion) and SSI (VND 132 billion). Conversely, foreign investors took advantage of the opportunity to net buy shares of DPM (VND 75 billion), NLG (VND 55 billion), and DCM (VND 51.4 billion).

Source