Stock market session 11/10: Efforts to regain the 1,600 point mark failed

Today's index seemed to have ended its decline and had an increase at the beginning of the week, but things were not easy as the selling pressure became stronger towards the end. At the end of the session, VN-Index closed at 1,580.54 points, down 18.56 points, equivalent to -1.16%.

The selling side did not push the market as hard as last weekend's session. Liquidity on the HoSE floor was about 13% lower, with a transaction value of over VND 21,100 billion. Today's index had a Bull-trap rhythm that disappointed investors, with a significant impact coming from VIC and the Gelex group.

Lying below reference for most of the morning session and contributing to pushing the index down to the lowest level of the day at 1,580.54 points, VIC suddenly increased in price with orders above 200,000 VND/share, narrowing the decline at the end of the morning session. In fact, liquidity at VIC is still decreasing and decreased by 24% compared to the previous session. VIC even increased by over 2% in the afternoon session, becoming the stock that pulled the index the most at that time.

Thanks to VIC's good increase, a series of other stocks also showed signs of reversal. At this time, the index jumped above the 1,600 point mark and increased to a peak of more than 10 points at 1:46 p.m. However, this signal quickly turned down and once again lost the reference level, creating a Bull-trap rhythm during the day.

VN-Index performance on November 10

At the end of the day, VN30 lost even more value than the morning session and only 6 stocks increased in price. Pressure in the large-cap group caused both VN30 and VN-Index to close at the lowest price of the session. VN30 lost 20.53 points, equivalent to -1.13%, while VN-Index lost 18.56 points, equivalent to -1.16%.

In the afternoon, VIC had a turnaround but fortunately the decrease was not as large as in the morning. Instead, VHM andFPT were the stocks most negatively affected. FPT traded in the red all morning and continued to fall further in the afternoon, closing down 4.75%. Meanwhile, VHM suddenly dropped sharply in the ATC session and pushed the price down by more than 5.54%.

The stocks of the Gelex-related group were also quite negative when there were 3 codes appearing in the group that weighed down the index the most. GEX today fell to the floor -6.94%. VIX "fake green" for about 10 minutes then plummeted 4.49%. This code even matched orders of more than 1,000 billion VND while liquidity surged strongly in the afternoon session, showing pressure to accept selling at lower prices to "escape goods". Besides, EIB also fell more than 3.03%. These three codes took more than 2 points from the index.

In today's green price pulse, securities stocks increased quite strongly. SSI increased the highest by nearly 6%, HCM increased by more than 4% or VCI increased by more than 2%. Although the cash flow later reversed, many codes could not maintain the high price as before but still closed at green prices, such as SSI, HCM, MBS, VND, VDS... Meanwhile, VCI, CTS, FTS, DSE... lost the red turning point mark. Some large codes contributed to the index, but not significantly in the context of the remaining balance holding down quite a lot of points.

HoSE recorded 202 stocks decreasing in price, twice as many as the number of stocks increasing. The market has not yet reached the point of falling into a state of sell-off, especially after a sharp decline last weekend. However, in general, no industry group was completely positive, only Retail, Food and Insurance groups temporarily maintained a slight increase, avoiding a chain effect.

A rather intense session of price pressure, but foreign investors did not sell as much as before. While the purchase value was still the same as the previous session, the resale value decreased significantly, narrowing the net selling momentum. The net selling value on HoSE in the first session of this week only recorded 176.6 billion VND, mainly due to foreign investors net buying more than 400 billion VND of HPG. This is also a rare large-cap stock that maintained its upward momentum throughout the session.

Source: https://baodautu.vn/chung-khoan-phien-1011-no-luc-lay-lai-moc-1600-diem-chua-thanh-d431793.html