Real estate stocks rise sharply, VN-Index loses 1,200 point mark

SGGPO 07/27/2023 15:45

The large selling pressure after VN-Index conquered the 1,200-point mark caused VN-Index to reverse its decline. Market liquidity skyrocketed in both volume and value of transactions, but VN-Index could not maintain the 1,200-point mark.

Real estate stocks increase sharply but VN-Index still falls below 1,200 points

The Vietnamese stock market in the trading session on July 27, under the pressure of large profit-taking from investors, caused the market to "shake" strongly. The expectation that investors would react positively to the FED's move to increase interest rates by 0.25% was not beyond prediction, but it seemed that this information did not affect the market much. The VN-Index at one point dropped 10 points, but then demand increased, especially in the real estate group, causing many stocks to turn around and increase sharply. Some stocks hit the ceiling such as DXG, ITC, NBB, SJC; stocks that increased strongly such as NVL increased by 3.78%, VCG increased by 4.78%, NLG increased by 2.36%, PDR increased by 2.09%, CII increased by 2.49%, BCG increased by 6.5%, DIG increased by 2.1%... contributing to narrowing the decline of the VN-Index.

Meanwhile, the banking group of stocks leaned more towards red. Specifically, STB, VPB, SHB, TCB, CTG, VCB, OCB... all decreased from nearly 1 to 1.5%. Although many stocks in the securities group decreased, there were also some stocks that increased, such as SSI increased by 1.55%, FTS increased by 1.1%, VND, VIX and HCM all increased by nearly 1%.

At the end of the trading session, VN-Index decreased by 3.51 points to 1,197.33 points (0.29%) with 262 stocks decreasing, 193 stocks increasing and 90 stocks remaining unchanged. At the end of the session on the Hanoi Stock Exchange, HNX-Index also decreased by 0.56 points (0.24%) to 235.64 points with 95 stocks decreasing, 73 stocks increasing and 164 stocks remaining unchanged. Market liquidity skyrocketed with more than 1.1 billion shares traded on the HOSE with a total trading value of nearly VND22,700 billion. If the whole market is considered, the total trading value is up to nearly VND25,200 billion (equivalent to USD1.1 billion).

While domestic investors massively dumped stocks, foreign investors net bought nearly 330 billion VND on the HOSE floor.

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