Foreign investors sold strongly, VIC stock could no longer "carry" the index

(NLDO) - The December 9 trading session ended in a state of strong tug-of-war, when the failed attempt to surpass the historical peak triggered a widespread sell-off wave.

VN-Index closed the session on December 9 down 6.57 points, falling back to 1,747.17 points, although it reached a peak of 1,772 points in the morning session. Liquidity exploded with more than VND27,700 billion, a sharp increase compared to previous sessions.

The day's developments showed a rapid reversal in market sentiment. From a depressed state due to VIC shares continuously hitting the ceiling while the rest of the market continued to decline, investors pushed up selling, causing the index to slide to a low of 1,724 points. By the end of the afternoon session, bottom-fishing demand had joined in, helping to narrow the decline.

The market's focus continues to be on VIC. Amid a series of corrections, this code increased by nearly 5% thanks to positive expectations related to the capital increase issuance plan and infrastructure proposals.

With the largest capitalization, VIC plays an important supporting role, helping the index avoid a deep fall. However, the breakthrough of a single code is not enough to create a spread, even in the Vingroup ecosystem when VHM and VRE both decrease.

Red covers the market in the trading session of December 9

Selling pressure covered the group of financial and banking stocks, causing the VN30 to fall more sharply than the general index. LPB, VPB, HDB, CTG, MBB, TPB all lost from 1.7% to more than 5%, contributing to the index's decline. Real estate stocks, especially the mid-cap segment, suffered a deep correction after a period of overheating. NVL, DXG, DIG all fell, reflecting the tendency of speculative cash flow to withdraw to preserve profits.

On the contrary, technology stocks were the rare group that maintained green.FPT increased by more than 1%, continuing to maintain a stable pace in the context of a strongly polarized market.

However, this improvement was not enough to balance when securities, banking and real estate stocks all weakened.

The most worrying highlight of the session was the strong net selling activity of foreign investors. The total net selling value exceeded 2,400 billion VND.

The sudden withdrawal of foreign capital at the peak shows that short-term risks still exist, even when liquidity increases. Active capital has chosen to take profits instead of continuing to push prices, creating a warning signal of unsustainable growth.

According to analysts, the failure to conquer 1,770 points and strong selling pressure from foreign investors could open a technical correction in the coming sessions. The support zone of 1,730 - 1,740 points is considered an important area to test demand. If the cash flow does not return strongly enough, the scenario of a deeper correction cannot be ruled out.

The contrast between high liquidity and negative breadth, along with the phenomenon of "pulling pillars" from a few individual codes, is a typical sign of a period of increased risk. In that context, the market needs more time to accumulate to establish a new price level instead of trying to surpass the peak at all costs.

Source: https://nld.com.vn/khoi-ngoai-ban-rong-manh-co-phieu-vic-het-ganh-noi-chi-so-196251209152805148.htm