Stock market October 28: Selling pressure continues to dominate?

(NLDO) – The session on October 27 witnessed selling pressure spreading across many industry groups. Will this trend continue to dominate the market on October 28?

At the end of the session on October 27, the VN-Index closed at 1,652 points, down 30 points.

Opening on October 27, VN-Index increased by 13 points but the increase was quickly narrowed due to strong selling pressure from key sectors such as securities, banking and consumption. Large codes such as VHM (Vinhomes), MSN ( Masan ) and TCB (Techcombank) were the focus of selling pressure,

In the afternoon session, selling pressure continued to increase, causing the VN-Index to fall as much as 15 points at times. Although bottom-fishing demand appeared in some banking and securities stocks, the downward trend still prevailed.

In particular, in the last 15 minutes of the session, Vingroup stocks became the focus of supply when VHM and VRE both hit the floor, while VIC fell more than 2%. This caused the general index to drop sharply when it closed at 1,652 points, down 30 points. Foreign investors continued to net sell with a total value of VND 1,106.73 billion, focusing on SSI, MBB and HDC codes.

According to VCBS Securities Company, the sharp 30-point drop in the VN-Index on October 27 shows that cautious sentiment is dominating the market. Widespread selling pressure requires the market to take more time to absorb the supply of stocks.

In the context of unpredictable market fluctuations, VCBS Securities Company recommends that investors closely monitor cash flow signals to make appropriate trading decisions; at the same time, review stock codes that have reached the stop-loss threshold, to preserve capital and avoid chasing purchases at high prices.

However, Dragon Capital Securities Company (VDSC) believes that the supply pressure is not really strong. VDSC forecasts that the VN-Index will be supported when it falls back to the 1,600-1,630 point range and recovers.

Source: https://nld.com.vn/chung-khoan-ngay-28-10-ap-luc-ban-tiep-tuc-chiem-uu-the-196251027185615042.htm