Cash flow has dried up.
The stock market on April 20th was predicted to remain under significant pressure. This prediction proved correct as the VN-Index fluctuated sharply, trading was subdued in the morning session, and the VN-Index showed a gloomy outlook with decreased liquidity and investor caution.
The balance in the April 20th stock market session was evident as the general index fluctuated within a narrow range around the reference point. By the beginning of the afternoon session, only over 3 trillion VND had been successfully traded on the HOSE exchange.
However, according to VCBS Securities Company, demand remained diversified, focusing on certain sectors, with insurance and steel stocks recording gains of approximately 1%.
Stock markets closed in positive territory on April 20th, but negative signs persisted, indicating a renewed shortage of capital. (Illustrative image)
Slow trading pace persisted in the afternoon session, with increased active selling pressure causing over 190 stocks to decline. However, buying pressure towards the end of the session helped the VN-Index reverse course and regain positive territory.
At the close of trading on April 20th, the VN-Index rose 0.27 points, or 0.03%, to 1,049.25 points. However, the VN30-Index failed to reverse its downward trend, falling 2.53 points, or 0.24%, to 1,053.61 points.
Across the entire exchange, 179 stocks increased in price (8 hitting the ceiling price), 72 remained unchanged, and 176 decreased. Within the VN30 group, 14 stocks increased in price, 3 remained unchanged, and 13 decreased.
The highlight of the April 20th stock market session was the renewed depletion of liquidity. Only 374 million shares, equivalent to VND 6,627 billion, were successfully traded, a decrease of 196 million shares (34.3%) in volume and a decrease of VND 3,098 billion (31.9%) in value.
Amidst the volatile and uncertain market trends, foreign investors only returned to net buying with a small liquidity of 57 billion VND in the afternoon session of April 20th, focusing on buyingSHB , HPG, and STB.
"We recommend that short-term investors consider making quick profits on stocks that are undergoing corrections or accumulating well in the securities and industrial real estate sectors," VCBS advised investors.
On the Hanoi Stock Exchange, the situation is more positive, with all indices rising and relatively high liquidity.
At the close of trading on April 20th, the HNX-Index rose 0.76 points, or 0.37%, to 206.61 points, and the HNX30-Index increased 1.48 points, or 0.4%, to 371.01 points. A total of 76.3 million shares, worth 1,067 billion VND, were successfully traded.
Retail stocks cool down.
Following the government's approval of the Ministry of Finance 's proposal to reduce VAT by 2%, retail stocks surged across the board. However, this momentum was short-lived. During the April 20th trading session, retail stocks unexpectedly reversed course, significantly contributing to the decline of the VN30 index.
Specifically, MSN decreased by 700 VND/share, equivalent to 0.9%, to 78,000 VND/share. MWG decreased by 100 VND/share, equivalent to 0.2%, to 40,400 VND/share. VNM decreased by 100 VND/share, equivalent to 0.1%, to 71,900 VND/share.
Among large-cap retail stocks, Sabeco's SAB was the only one to successfully buck the trend. At the close of trading on April 20th, SAB rose 100 VND/share, or 0.1%, to 170,500 VND/share.
Mid-cap retail stocks also plunged after a brief period of weathering the storm. DGW fell 800 VND/share, or 2.24%, to 34,900 VND/share. FRT fell 900 VND/share, or 1.33%, to 66,700 VND/share. PET fell 500 VND/share, or 1.96%, to 25,000 VND/share.
Surpassing the real estate sector, bank stocks contributed the most to the decline in blue-chip stocks during the April 20th trading session. Specifically, VPB fell 350 VND/share, or 1.8%, to 19,350 VND/share. VCB fell 200 VND/share, or 0.2%, to 88,300 VND/share, and so on.
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