Stocks continue to decline.

The VN-Index fell after the October 2nd trading session, failing to conquer the 1,300-point mark.

The VN-Index closed this afternoon with a not-so-sharp decline compared to the morning, but overall stock prices were significantly lower. Some large-cap stocks in the banking sector reversed course and rose, providing support for the index, but selling pressure intensified in many other stocks. This could be a situation where the leading stocks are pulled up…

The VN-Index fell 2.82 points in the morning session and closed down 4.36 points in the afternoon. Although the difference in points was small, the number of stocks that fell was much higher. Specifically, on the HoSE exchange, only 75 stocks fell by more than 1% in the morning session, but by the end of the session, that number had reached 128. The trading volume of these stocks, which accounted for only 19.5% of the total trading value in the morning, increased to 44.3% in the afternoon.

Many stocks showed clear selling pressure and prices fell sharply. Besides those that performed poorly this morning such as DIG, CTG, PDR, HDB, DXG, VPB, HPG, HCM, VIX, VND… also saw high trading volume this afternoon. The market breadth at the end of the day remained very negative with 96 gainers/299 losers. This breadth was already poor this morning (84 gainers/281 losers), and this afternoon the price levels of the declining stocks were further lowered.

Fortunately, the VN-Index didn't lose too many more points thanks to large-cap stocks holding their prices. VCB surged 0.76%, a small increase, but its market capitalization advantage is invaluable at this time. VCB alone contributed nearly 1 point to the index. VHM also showed a fairly good recovery, regaining about 0.81% compared to the morning closing price and narrowing its end-of-day decline to -0.12%. TPB experienced a surprising surge after 2 PM, closing up 2.34% compared to the reference price, meaning it increased by about 1.75% this afternoon alone.

Among the top 10 largest capitalized stocks today, only 3 saw significant declines: CTG down 1.37%, VPB down 1.01%, and HPG down 1.68%. Conversely, 3 stocks managed to balance their gains slightly, including VCB up 0.76%, BID up 0.2%, and TCB up 1.01%. While the number of declining stocks was higher within the VN30 group (10 gainers/19 losers), the overall decline within this group was not substantial. Therefore, the VN30-Index only fell slightly by 0.32% compared to the reference point.

The group with the highest liquidity today still saw more declines than gains.

Today's buck-the-trend stocks weren't representative of any particular industry group, but rather specific stocks where supply and demand remained strong. For example, in the securities sector, ORS surged 3.55% with impressive trading volume of 183 billion VND. This was the second consecutive session this stock broke through with very large trading volumes. BVS rose 2.53%, VFS 2.22%, and MBS 1.58%, all strong performers in this group. However, the overall red dominated the securities sector, even surpassing blue-chips like SSI, HCM, VCI, VND, and FTS. The banking sector was similar; TPB, EIB, and TCB performed well, but the number of declining stocks was still higher, with 11 out of 27 stocks falling by more than 1%. In other words, the stocks that bucked the trend this session were due to individual strength, or even the advantage of small market capitalization and low liquidity.

Today's market weakness may be partly due to escalating tensions in the Middle East impacting international stock markets, but the larger factor remains the decline in confidence in the market's ability to break through. Today marks the fifth consecutive session of the market fluctuating near the 1300-point peak without any clear signals of a breakout. This easily leads to decisions to reduce portfolios to mitigate risk should the market reverse and decline.

A faint positive sign is that foreign investors are still buying, albeit significantly less than yesterday. This afternoon alone, foreign investors disbursed an additional 137.2 billion VND, still focusing on a few stocks: TCB (+258.8 billion VND), PNJ (+161 billion VND),FPT (+66.8 billion VND), VHM (+46.7 billion VND), VCB (+48.8 billion VND), TPB (+43.3 billion VND), and VCI (+26.6 billion VND). Net selling was seen in VPB (-74.3 billion VND), HDB (-61.5 billion VND), CTG (-47.8 billion VND), HPG (-36.6 billion VND), DPM (-34 billion VND), and VND (-27.4 billion VND). Overall for the day, foreign investors made net purchases of 254 billion VND, following yesterday's net purchases of nearly 670 billion VND.

TH (according to VnEconomy)

Source: https://baohaiduong.vn/chung-khoan-tiep-tiep-di-lui-394653.html