At the close of trading on October 27, the VN-Index closed at 1,652 points, down 30 points.
Opening on October 27th, the VN-Index rose 13 points, but the gains quickly narrowed due to strong selling pressure from key sectors such as securities, banking, and consumer goods. Large-cap stocks like VHM (Vinhomes), MSN ( Masan ), and TCB (Techcombank) were the focus of the selling pressure.
In the afternoon session, selling pressure continued to increase, causing the VN-Index to drop sharply by as much as 15 points at one point. Although bargain hunting appeared in some banking and securities stocks, the downward trend remained dominant.
In particular, during the last 15 minutes of the trading session, Vingroup stocks became the focus of selling pressure as VHM and VRE both hit their lower limit, while VIC fell by more than 2%. This caused the overall index to plummet, closing 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 stocks.
According to VCBS Securities Company, the sharp 30-point drop in the VN-Index on October 27th shows that cautious sentiment is dominating the market. Widespread selling pressure requires the market to take more time to absorb the supply of shares.
In the context of an unpredictable and volatile market, VCBS Securities Company recommends that investors closely monitor cash flow signals to make appropriate trading decisions; and at the same time, review stocks that have reached stop-loss levels to protect capital and avoid chasing high prices.
However, Rong Viet Securities Company (VDSC) believes that the selling pressure is not yet truly strong. VDSC forecasts that the VN-Index will be supported when it retreats to the 1,600 – 1,630 point range and then recover.
Source: https://nld.com.vn/chung-khoan-ngay-28-10-ap-luc-ban-tiep-tiep-chiem-uu-the-196251027185615042.htm
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