Is the return to the 1,200 mark imminent?

Disappointment gripped the market on November 15th, pushing the VN-Index down to 1,218.6 points and many stock sectors into the red. Given the downward momentum of the past few days, BSC Securities analysts fear the VN-Index could fall to 1,200 points.

VN-Index continues to fall by more than 13 points: Is the return to the 1,200 mark imminent?

Disappointment gripped the market on November 15th, pushing the VN-Index down to 1,218.6 points and many stock sectors into the red. Given the downward momentum of the past few days, BSC Securities analysts fear the VN-Index could fall to 1,200 points.

After a sharp drop of up to 14 points, selling pressure at the beginning of the trading session on November 15th was not too strong, but weak demand continued to push the indices below the reference level.

After about 10 hours, selling pressure intensified, widening the decline in the indices. The VN-Index fell to 1,217 points in the morning session and recovered slightly at the beginning of the afternoon, but sellers continued to lose patience and pushed the market down. Stronger selling pressure occurred about 15 minutes before the closing auction, once again completely erasing any recovery efforts. Throughout the entire session, the VN-Index traded in the red.

At the close of trading, the VN-Index stood at 1,218.57 points, down 13.32 points (-1.08%). The HNX-Index fell 2.29 points (-1.02%) to 221.53 points. The UPCoM-Index dropped 0.54 points (-0.59%) to 91.33 points. Across the entire stock market on November 15th, 543 stocks declined, 776 remained unchanged, and only 219 increased. Despite the negative market fluctuations, 27 stocks hit their upper limit, while 37 stocks hit their lower limit.

Securities stocks continued to attract attention as they all plummeted sharply, further increasing investor pessimism. VDS fell by 4.88%, CTS by 4.6%, BVS by 4.1%, and AGR by 4.1%.

Similarly, other stock sectors such as steel, retail, and oil and gas also declined simultaneously. Sectors that had experienced positive trading in the previous few sessions, such as ports and shipping, textiles, fertilizers and chemicals, and seafood, also saw price drops.

In the VN30 group today, only 3 stocks maintained their gains: VRE, SSB, and BVH. VJC also held its reference price. Meanwhile, 26 stocks declined. Stocks such as BID,FPT , VNM, CTG, HPG, TCB... all fell into the red and were among the stocks with the most negative impact on the VN-Index. BID fell 1.76%, deducting 1.1 points. FPT also fell 1.54%, deducting 0.74 points...

According to Mr. Dinh Quang Hinh, Head of Macroeconomics and Market Strategy at VNDIRECT Securities Joint Stock Company, the continuous upward adjustments to the central exchange rate last week, the near return of the interbank exchange rate to its mid-year peak, and the increase in interbank interest rates exceeding 5% have negatively impacted investor sentiment. The performance of banking, securities, and steel stocks, which are highly sensitive to exchange rate and interest rate fluctuations, has therefore been strongly affected.

Top 10 stocks with the strongest impact on the VN-Index on November 15th.

Conversely, VTP continued to surprise investors by hitting the ceiling price despite the negative market fluctuations. In fact, VTP even had excess buy orders at the ceiling price and no sellers. VTP was also the stock with the most positive impact on the VN-Index, contributing 0.24 points. Besides that, some industrial park stocks such as KBC, VGC, and SZC... also bucked the general market trend. KBC increased by 2.44%, SZC by 2.3%, and VGS by 1.15%.

Liquidity increased as red continued to dominate. The total trading volume on the HoSE reached 751 million shares, equivalent to a trading value of VND 18,650 billion, up 15.6% compared to the previous session. Block trades accounted for VND 2,448 billion on the HoSE. The trading value on the HNX and UPCoM was VND 1,213 billion and VND 493 billion respectively.

FPT was the stock with the highest trading value in today's session, at 878 billion VND. Following that, HPG and VHM had trading values ​​of 721 billion VND and 688 billion VND respectively.

Foreign investors significantly increased their net selling to VND 1,315 billion across the entire market. On the HoSE exchange alone, foreign investors sold a net VND 1,429.54 billion, the highest amount since November.

Foreign investors made a significant net sale, concentrated in VHM and FPT shares.

Specifically, foreign investors significantly net sold VHM shares, totaling 701 billion VND. FPT continued to experience net selling of 338 billion VND. SSI and VNM were also net sold for 209 billion VND and 112 billion VND respectively. Conversely, VPB saw the strongest net buying with 75 billion VND. CTG followed, but with a net buying value of only 36 billion VND.

The downward trend is still ongoing. In a report sent to investors, analysts from BSC forecast that the VN-Index could move towards the 1200-point support level.

Source: https://baodautu.vn/vn-index-tiep-tiep-giam-hon-13-diem-ngay-ve-moc-1200-can-ke-d230160.html