Massive trading, VN-Index on fire on March 8

VN-Index fell more than 21 points with the number of stocks falling in price overwhelming, especially the banking group, which plunged and put great pressure. However, liquidity increased sharply. Foreign investors were net sellers for the fourth consecutive session.

After a session under pressure to adjust around the resistance zone of 1,280 points, corresponding to the highest price zone of September 2022, VN-Index recovered well at the price zone of 1,260 points, but still closed below the 1,270 zone. The 1,260 - 1,270 point zone temporarily created a short-term peak in the last 3 sessions.

This upward momentum was maintained right at the opening of the session on March 8. However, the market's upward momentum could not be maintained for long when selling pressure increased sharply immediately after that, red covered most of the stock groups in the market, the indices therefore also fell below the reference level. The recovery in today's session proved to be quite weak when the buying force was not interested in participating at high prices.

The pressure was stronger in the afternoon session. The group that put the most pressure in today's session was the banking sector, with a series of stocks falling. Of which, BID fell 4.1% to VND51,100/share. This stock also took the most away from the VN-Index, with 3.09 points. At the beginning of the session, BID seemed to signal a bad day for banking stocks or the general market when it was suddenly sold straight down to the floor price.

In addition, CTG decreased by 3.6% to VND34,500/share, TCB decreased by 3.8% to VND41,000/share, these two stocks took away 1.72 points and 1.39 points respectively. A series of other bank codes such as TPB, LPB, MBB... all decreased sharply in price.

The market decline spread to many stock groups. In the VN30 group, VNM also decreased by 2.8%, MSN decreased again by 2.8% after many previous positive trading sessions, VRE decreased by 2.3%...

In the securities group, a series of large and small stocks such as VDS, FTS, VCI, SSI, BSI, HCM... also decreased by more than 2% and caused significant impacts on investor sentiment. However, not all securities stocks decreased, but there were still stocks that went against the trend such as CTS or AGR...

With its highly speculative nature, the real estate group is not immune to the general market fluctuations. DIG decreased by 2.9%, HQC decreased by 2.9%, CEO decreased by 2.6%, NVL decreased by 2.4%.

On the positive side, the stocks that had the best impact on VN-Index today were NAB, HVN, DCM, DGW, BCM, LGC... Of which, NAB contributed 0.26 points when it increased by 6.3%, HVN contributed 0.16 points when it increased by 2.3%.

Some stocks in the fertilizer and retail groups... had quite positive fluctuations and at many times helped create momentum for the market to have slight recoveries during the session. Codes in the fertilizer group had DCM increase by 3.2%, LAS increase by 2.5%, DDV increase by 2.4%... Similarly, in the food group, PAN increased by 4% or DBC increased by 1%...

At the end of the trading session, VN-Index decreased by 21.11 points (-1.66%) to 1,247.35 points. The entire floor had 89 stocks increasing, 408 stocks decreasing and 55 stocks remaining unchanged. HNX-Index decreased by 1.04 points (-0.44%) to 236.32 points. The entire floor had 62 stocks increasing, 112 stocks decreasing and 64 stocks remaining unchanged. UPCoM-Index decreased by 0.37 points (-0.41%) to 91.23 points.

Liquidity skyrocketed with a total value of more than VND32,500 billion on the HoSE floor, up 30% compared to the previous session. On the HNX floor, the transaction value reached VND2,601 billion and UPCoM was VND770 billion. VND matched orders today reached 65.5 million units, increasing strongly at the beginning of the session but due to bad fluctuations in the general market, it closed at the reference level. MBB and HPG matched orders today for 49.4 million shares and 47 million shares, respectively.

Foreign investors had their fourth consecutive net selling session on HoSE with a value of VND666 billion. Meanwhile, foreign investors net bought VND50 billion on HNX and slightly net sold VND1.5 billion on UPCoM. Foreign capital net sold the most VNM code with a value of VND127 billion. Next, VPB and KBC were net sold VND106 billion and VND80 billion, respectively. VND, SSI, CTG, SAB... were also net sold heavily. In the opposite direction, foreign investors net bought the most KDH code with VND71 billion. DGW was also net bought VND64 billion.

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