Stock market September 29, investors still afraid of risks?

Nhận định chứng khoán 29-9: Nhà đầu tư còn sợ rủi ro? - Ảnh 1.

Although it lost 17 points at one point, by the end of the session on September 28, the VN-Index only decreased by 1.4 points to 1,152 points.

After a 16-point increase in the VN-Index, many investors expected the stock market to continue to rise on September 28. However, in this session, the sellers overwhelmed the buyers, causing the VN-Index to lose 17 points at one point.

However, selling pressure gradually decreased, and strong cash flow at the end of the session helped the market gradually narrow the decline.

At the end of the session, VN-Index only decreased by 1.4 points to 1,152 points. Liquidity on HoSE decreased sharply with only 691 million shares, equivalent to 15,789 billion VND. The entire floor had 282 stocks decreasing and 211 stocks increasing. In the group of 30 large stocks (VN30), there were 18 stocks decreasing from 0.1% to 3.3%.

This session, foreign investors aggressively sold stocks, which was one of the reasons that dragged the market down. Specifically, they sold 508 billion VND on the HoSE after 3 previous sessions of strong net buying.

According to Thanh Cong Securities Company (TCSC), the market suffered selling pressure throughout the session because investors were afraid of risks because in many previous sessions, the VN-Index decreased sharply.

The increase in world oil prices may have boosted cash flow into oil and gas stocks, helping GAS and PLX increase sharply... limiting the market's decline.

Mr. Nguyen Cong Trang, Deputy Head of TCSC Investment Consulting Department, commented that investors are being cautious in disbursing because the stock selling momentum from previous sessions has not stopped. The market is showing a downward correction trend.

However, the analysis team of the Bank for Investment and Development Securities Company (BSC) explained that the market's decline could be due to the fact that on September 28, lenders continued to sell off stocks after the VN-Index increased by nearly 16 points in the trading session on September 27.

Thy Tho - Photo: Tan Thanh

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