Massive trading activity causes VN-Index to plummet on March 8th.

The VN-Index fell by more than 21 points, with a dominant number of declining stocks, especially the banking sector, which plummeted across the board, putting significant pressure on the market. However, liquidity surged. Foreign investors continued to be net sellers for the fourth consecutive session.

After a period of downward pressure around the 1,280-point resistance level, corresponding to the highest price in September 2022, the VN-Index recovered well to the 1,260-point level, but still closed below 1,270. The 1,260-1,270 point range temporarily formed a short-term peak in the last three sessions.

This upward momentum was maintained right from the opening of the March 8th trading session. However, the market's upward trend did not last long as selling pressure surged shortly afterward, with red dominating most stock sectors and indices falling below the reference level. The recovery in today's session appeared quite weak as demand was not keen to participate at high price levels.

Pressure intensified in the afternoon session. The banking sector exerted the greatest pressure today, with a series of stocks plummeting. BID, in particular, fell by 4.1% to 51,100 VND per share. This stock also accounted for the largest loss to the VN-Index, at 3.09 points. BID's sudden sell-off at the beginning of the session seemed to foreshadow a bad day for banking stocks or the market as a whole.

In addition, CTG fell 3.6% to 34,500 VND/share, and TCB fell 3.8% to 41,000 VND/share, these two stocks deducting 1.72 points and 1.39 points respectively. A series of other bank stocks such as TPB, LPB, MBB... also experienced sharp price declines.

The market decline spread to many stock sectors. Within the VN30 group, VNM also fell by 2.8%, MSN declined again by 2.8% after several previous positive trading sessions, and VRE fell by 2.3%...

In the securities sector, a series of large and small stocks such as VDS, FTS, VCI, SSI, BSI, HCM... all fell by over 2%, significantly impacting investor sentiment. However, not all securities stocks declined; some, like CTS and AGR, bucked the trend.

With its highly speculative nature, the real estate sector was not immune to the general market fluctuations. DIG fell 2.9%, HQC fell 2.9%, CEO fell 2.6%, and NVL fell 2.4%.

On the positive side, the stocks that had the best impact on the VN-Index today included NAB, HVN, DCM, DGW, BCM, LGC... Among them, NAB contributed 0.26 points with a 6.3% increase, and HVN contributed 0.16 points with a 2.3% increase.

Some stocks in the fertilizer and retail sectors experienced quite positive movements, at times providing momentum for slight market recoveries during the session. Fertilizer stocks such as DCM rose 3.2%, LAS rose 2.5%, and DDV rose 2.4%... Similarly, in the food sector, PAN increased 4% and DBC increased 1%...

At the close of trading, the VN-Index fell 21.11 points (-1.66%) to 1,247.35 points. There were 89 gainers, 408 losers, and 55 unchanged stocks on the HNX exchange. The HNX-Index fell 1.04 points (-0.44%) to 236.32 points. There were 62 gainers, 112 losers, and 64 unchanged stocks on the HNX exchange. The UPCoM-Index fell 0.37 points (-0.41%) to 91.23 points.

Liquidity surged, with total trading value on the HoSE exceeding VND 32,500 billion, a 30% increase compared to the previous session. On the HNX, trading value reached VND 2,601 billion, and on UPCoM, VND 770 billion. VND saw a trading volume of 65.5 million units today, experiencing a strong surge at the beginning of the session, but due to negative market fluctuations, it closed at the reference price. MBB and HPG saw trading volumes of 49.4 million and 47 million shares respectively today.

Foreign investors recorded their fourth consecutive net selling session on the HoSE, with a value of 666 billion VND. Meanwhile, they net bought 50 billion VND on the HNX and net sold a small amount of 1.5 billion VND on the UPCoM. The strongest net selling by foreign investors was in VNM shares, valued at 127 billion VND. Following that, VPB and KBC saw net selling of 106 billion VND and 80 billion VND respectively. VND, SSI, CTG, SAB, and other stocks also experienced significant net selling. Conversely, KDH was the strongest net buyer by foreign investors, with 71 billion VND. DGW also saw net buying of 64 billion VND.

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