Stocks lost nearly 70 points

VN-Index narrowed its decline to 53 points after strong fluctuations in the early afternoon session of April 22.

VN-Index fluctuated within a narrow range this morning and did not show many signs of a volatile session. However, after the lunch break, the market situation suddenly reversed when selling pressure from large-cap stocks spread widely.

At 1:20 p.m., the index representing the Ho Chi Minh City Stock Exchange lost 69 points, breaking through a series of important psychological levels to fall below 1,140 points. The market was covered in red as 500 stocks fell, of which nearly 100 stocks lost all their amplitude. On the contrary, the number of stocks increasing was less than 40 stocks.

The large-cap basket faced strong selling pressure, causing all 30 stocks to fall sharply. 11 of these stocks hit the floor price. A series of banking stocks such as STB, LPB, VPB... were in a state of excitement, then reversed to below the reference price, then lost all amplitude. SSI, MSN, PLX... also hit the floor price at times and no buyers appeared.

Market liquidity increased rapidly during the deep decline. The matched volume as of 1:30 p.m. reached more than 1.15 billion shares, equivalent to VND23,000 billion. SHB was reported to be sold off, so liquidity jumped to VND1,600 billion, leading the ranking of value of shares transferred on the Ho Chi Minh City Stock Exchange.

The sharp decline also stimulated outside money to pour into the market, helping many stocks gradually narrow their decline. From the floor price, BID only decreased by 4%, LPB, STB, TCB decreased by about 5%. The index representing the Ho Chi Minh City Stock Exchange also narrowed its decline to 53 points. At 1:40 p.m., the index was trading around 1,150 points.

As the afternoon session progressed, the market was rebalanced by demand at low prices. VN-Index lost only 34 points at 2 p.m., equivalent to 2.8% compared to the reference when many stocks were moving to a positive state.

The number of stocks that lost all their amplitude was only 26, while the stocks that increased in price gradually improved. MWG was the only stock that went against the trend of the large-cap basket when it increased sharply and matched orders of more than 700 billion VND. Similarly, HVN of Vietnam Airlines jumped from near the floor price to 32,000 VND, up 5%.

TH (according to VnExpress)

Source: https://baohaiduong.vn/chung-khoan-mat-gan-70-diem-409986.html