Stock market on December 11th: VN-Index retreats below 1,700 points.

The VN-Index experienced another sharp correction of over 1%, closing below the 1,700-point mark on December 11th, a drop of more than 20 points.

The index fell back below the 1,700-point mark.

The capital market, already losing its support, fell even more sharply today. At the start of the day, the index declined, however, the number of leading stocks in the VN30 index remained positive, with over 20 stocks rising in price.

However, the upward momentum weakened. VIC shares plummeted and hit the floor limit, and VPL also fell to its lower limit, dragging the VN-Index below the 1,700-point mark by mid-morning.

In the afternoon session, these key stocks narrowed their losses, and bargain-hunting demand emerged after the index hit its lowest point at 1,693.72 points, pushing it slightly above 1,710 points. However, red dominated, significantly impacting the market and preventing the index from maintaining this level. It officially closed at 1,698.9 points, down 20.08 points, or -1.17%.

By the end of the day, VIC had only fallen by 1.88%, while VPL had fallen by 5.01%, a significantly better performance than when it hit its lowest point. Notably, in VPL, after 1:30 PM, buying pressure suddenly increased, bringing the liquidity of this stock, which had been quite weak throughout the morning session, up to the level of yesterday's session, indicating significant bottom-buying demand.

Nevertheless, these were still the stocks with the most negative impact on the market, along with VHM (-2.32%), and the three Vingroup stocks that dragged the index down by more than 8 points.

Notably, among the stocks that suddenly weighed down the index, VPX emerged. This was the first trading session for VPBank Securities' stock, however, VPX experienced a sharp decline on its debut. The largest drop in the session reached over 12%, and although it eased somewhat in the afternoon, VPX still closed down 9.14% at 30,800 VND/share. Due to the large drop on its debut, this decline made VPX the biggest loser on the HoSE today.

Large-cap stocks lost most of their gains towards the end of the day. Only three stocks in the VN30 index rose:FPT (+0.42%), SAB (+1.55%), and LPB (+0.68%).

Conversely, 26 stocks in the basket performed poorly. Among them, VJC fell by over 4%, VPB and VNM also dropped by over 2%, while 9 other stocks declined by over 1%.

Market heat map for the December 11th trading session.

Therefore, the index had to rely somewhat on small and medium-sized stocks, with some stocks rebounding and contributing to the VN-Index, notably BMP, KBC, PGV, NAB, DBC, and QCG. Among them, BMP and QCG surged to their upper limits.

But clearly, despite the sharp increase, small-cap stocks couldn't significantly impact the index and only recovered a small fraction of the points lost by large-cap stocks.

The HoSE exchange recorded 192 declining stocks while 104 stocks increased in price. The selling pressure was mainly concentrated across all sectors. All HoSE investment indices were in the red, except for VNIT which saw a slight increase today.

With large-cap stocks falling in value simultaneously, liquidity on the exchange weakened significantly. Trading value on the HoSE reached just over 16,000 billion VND today, down 18% compared to yesterday's session, indicating that investors are choosing to stay on the sidelines and observe.

Foreign investors continued to be net sellers, although they still bought over 240 billion VND worth of FPT and a quantity of MBB, VIX, and VPL. However, the number of stocks being sold net was higher, causing the net selling value of foreign investors on the HoSE today to increase to 488 billion VND.

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