Stock market on fire, VN30-Index lost nearly 44 points

Meanwhile, the HNX-Index also decreased by 1.92 points (0.72%) to 265.36 points; while the UPCoM-Index increased by 0.37 points (0.33%) to 114.24 points.

Total market liquidity reached approximately 33,600 billion VND, with HoSE accounting for over 30,700 billion VND. On the HoSE, red dominated with 178 declining stocks and 143 rising stocks. Foreign investors continued to net sell more than 1,200 billion VND.

The volatility of large-cap stocks was the main reason for the market's weakness, with the focus on "Vin" group stocks: VHM fell 6.99%, VIC fell 2.28%, and VRE fell 6.96%, these three stocks together taking away more than 10 points from the VN-Index.

Similarly, MWG fell 5.48%, GEX fell 6.98%, SSI fell 3.33%, VJC fell 2.61%, and CII fell 6.93%. In addition, bank stocks such as HDB, TCB, VPB, MBB, and CTG also traded poorly, increasing pressure on the index.

The highlights of today's trading session were the following stocks: KBC,FPT , POW, FTS, and BVH.

The stock market plunged during the trading session on October 27th. (Illustrative image).

Regarding market developments this week, several securities companies predict that the VN-Index is still in the process of searching for a short-term bottom. During this period, investors need to closely monitor the market because the larger the price fluctuations, the higher the risk of a correction.

Specifically, Yuanta Securities Vietnam (YSVN) believes that the short-term trend of the overall market remains downward. Therefore, investors can maintain a stock allocation of 20-40% of their portfolio and should only consider making new purchases with a low weighting to gauge the short-term trend.

Tien Phong Securities (TPS) forecasts that in the following trading sessions, if demand continues to weaken, the market's rebound may end, and the VN-Index could return to a correction phase. However, the 1,600 - 1,620 range is a reliable support zone in case the VN-Index corrects.

According toACB Securities (ACBS), in the short term, the VN-Index is facing resistance around 1,700 points – an area that could trigger profit-taking pressure if buying pressure is not strong enough to break through. If the index fails to break through this area, it is highly likely that the VN-Index will return to test the key support zone around 1,600 points in the coming sessions.

HOANG DUNG

Source: https://vtcnews.vn/chung-khoan-ruc-lua-vn30-index-mat-gan-44-diem-ar983515.html