Stock market on May 21st: VN-Index falls below 1,900 points.

The sudden and sharp drop in liquidity has led to more cautious trading in the market. However, a positive point is that market breadth has improved somewhat.

No large-cap stocks rose enough to pull the index up, causing the VN-Index to fall again and fail to hold the 1,900 mark. At the close of trading on May 21st, the VN-Index fell 16.34 points, or 0.85%, to 1,896.89 points.  

Market breadth on May 21st was fairly balanced, with 144 gainers and 152 losers on the HoSE. However, selling pressure remained on large-cap stocks, while conversely, no single leading stock was strong enough to push the index higher.  

The movement of the VN-Index.

Following yesterday's sharp fluctuations, the VN-Index opened slightly higher this morning and traded sideways within a range of +/- 10 points around the reference point for about an hour before weakening and briefly falling below 1890.  

In the afternoon session, the situation was similar to the morning session, with fluctuations in the 1,890-1,910 point range. A positive sign was that buying pressure showed more active participation compared to the morning session, significantly narrowing the gap between the number of advancing and declining stocks. This was accompanied by a recovery in the index points of some large-cap stocks such as LPB, MWG, and HPG.

The biggest drag on the index today was VIC, pulling down the overall negative sentiment. This stock fell 3.53%, and VIC alone accounted for 13 points deducted from the index. Additionally, VHM (-0.06%) and VRE (-2.09%) also declined, but did not exert as much pressure on the index as VIC.  

In particular, the oil and gas sector stocks, which were the driving force behind the index's reversal yesterday afternoon, have suddenly reversed course today, suggesting that yesterday's rally may have been a bull-trap.  

A series of oil sector stocks turned red. In the VN30 index, BSR fell 3.46%, while GAS and PLX both lost more than 2%. Within the sector, PVT, PVB, and PVD also experienced sharp declines of 2-3%.  

The chemical sector also declined accordingly. Rubber stocks experienced a correction, with GVR seeing the sharpest drop in the VN30 index at 3.72%, while HRC hit the floor limit, and red dominated the group.  

Market breadth improved with a higher number of gainers than yesterday and this morning, however, trading was quite slow. Among the gainers, no leading stocks were strong enough to pull the index up, while conversely, VIC and the oil and gas sector together pushed prices down.  

The VN30 index experienced significant fluctuations today, with some good upward movements but ultimately falling below the reference level by 0.07%. Several large-cap stocks were also pressured, resulting in gains that were not as strong as in the morning session, such as VCB. Similarly, BID and VNM were also pushed down into negative territory in the final minutes of the day.

Cash flow was quite cautious today, with investors limiting transactions, leading to a sharp decrease in liquidity, especially in the afternoon when trading was weak and lacked significant breakthroughs.  

Trading value on the HoSE exchange reached just over 22,000 billion VND on May 21st, a decrease of 30% compared to the previous day. Within that, the VN30 index recorded a trading value of only about 14,200 billion VND, a decrease of 24.8%.  

After a temporary sideways trading session yesterday, foreign investors returned to selling heavily. VIC suddenly experienced the strongest net selling with a value exceeding 517 billion VND, FPT was also sold for over 317 billion VND, while MBB, VHM,ACB , and TCB were also simultaneously sold off.  

Buying activity remained strong with disbursements into VPB (+283 billion VND) and VCB (+163 billion VND), however, the rest of the market continued to experience net selling. Net selling pressure from foreign investors on the HoSE today increased to 1,685 billion VND.

Source: https://baodautu.vn/chung-khoan-phien-215-vn-index-ve-duoi-1900-diem-d601881.html