Stocks plummet, VN-Index loses 1,600 point mark

Immediately after opening, the Ho Chi Minh City Stock Exchange had a negative performance with sell orders dominating. The market did not see any green at any point. By lunchtime, the VN-Index stopped at 1,621.47 points, down 21.17 points.

In the afternoon session, selling pressure became stronger towards the end, causing the market to fall deeply. At the end of the session, VN-Index "evaporated" a total of 43.54 points (-2.65%), to 1,599.1 points; VN30-Index was at 1,824.71 points after falling 44.89 points (-2.4%).

Most of the VN30 stocks decreased in price. Screenshot

Market breadth was heavily tilted towards the downside with 270 red codes and only 59 green codes. In the VN30 basket, there were only 2 codes increasing and 28 codes decreasing.

Strong supply pressure caused most sectors to decline, with the real estate sector suffering the biggest decline. In this group, only a few stocks increased, the rest mainly decreased or remained unchanged. The stock with the largest market capitalization, VIC, fell 3.9%, taking 7.02 points off the VN-Index; followed by VHM, which hit the floor, causing the index to lose 6.12 points.

The banking group also contributed significantly to the market's decline when 7 codes were in the top 10 codes that took away the most points. Of which, CTG caused the index to decrease by 2.51 points; VCB and VPB lost 1.91 and 1.78 points respectively. BID, LPB and STB also took away more than 1 point each.

There are only 4 industry groups that go against the general trend: Telecommunications services; essential goods trade; software and services; food - beverages - tobacco.

The market fell sharply in the context of being in an "information valley", when supporting factors such as upgrading or third-quarter business results have been fully reflected, while there is almost no new positive information.

Liquidity reached nearly VND25,000 billion. Foreign investors maintained net selling with a purchase value of more than VND2,680 billion and a sale value of nearly VND3,975 billion.

Liquidity reached nearly VND25,000 billion. Foreign investors maintained net selling with a purchase value of more than VND2,680 billion and a sale value of nearly VND3,975 billion.
On the Hanoi Stock Exchange, at the end of the session, the HNX-Index reached 260.11 points after falling 6.04 points (-2.27%); the HNX30-Index fell 16.88 points (-2.93%), to 558.85 points. The total transaction value reached 2,600 billion VND.

Source: https://hanoimoi.vn/chung-khoan-lao-doc-vn-index-mat-moc-1-600-diem-722494.html