Stocks suddenly fell to the floor, VN-Index dropped nearly 40 points

The stock market traded cautiously in the morning session, but the index only declined slightly. However, in the afternoon, a series of stocks were unexpectedly sold off, causing the VN-Index to close down 39.85 points, equivalent to a 3.34% drop, to 1,153.20 points. Similarly, the HNX-Index also fell 11.64 points, equivalent to 4.79%, to 231.5 points; and the UPCoM-Index fell 2.06 points, equivalent to 2.27%, to 472.6 points.

A series of stocks plummeted unexpectedly in the session of September 25.

The number of stocks experiencing sell-offs and hitting the floor limit increased significantly, exceeding the predictions of many securities companies and investors. On the HOSE exchange alone, 116 stocks fell to their lower limit out of a total of 495 declining stocks. This decline resulted in a nearly 160,000 billion VND drop in HOSE's market capitalization. Over three consecutive days of decline, HOSE's market capitalization has lost over 288,500 billion VND, equivalent to more than 11.7 billion USD.

Similarly, the HNX exchange also saw 48 stocks hit their lower limit out of 165 declining stocks. Among those that hit their lower limit, a significant number belonged to the securities sector, including CTS, AGR, APG, BSI, FTS, HCM, SSI, VCS, VDS, MBS, ORS, etc.

The red color also spread across blue-chip stocks. Among the 30 stocks in the VN30 index on the HOSE exchange, only SSB, VJC, and VNM managed to turn the tide, maintaining positive gains until the end of the session. These three stocks were not strong enough to act as a support, especially as banking and retail stocks plummeted sharply.

After three consecutive sessions of sharp declines, investor sentiment seemed even more pessimistic, and a massive sell-off occurred shortly before the market closed. In particular, after the VN-Index fell below 1,180 points, many investors rushed to sell off their holdings.

In contrast to the sharp decline that stimulated bargain hunting at the end of last week, this session saw only average liquidity, similar to recent trading sessions, at just over $1 billion. A total of over 1.3 billion shares and fund certificates were traded, with a total value exceeding VND 27,447 billion.

Source: https://thanhnien.vn/co-phieu-bat-ngo-nam-san-la-liet-vn-index-giam-gan-40-diem-185230925151248231.htm