Investors continue to dump bank stocks

Affected by the announcement of lowering the interest rate ceiling, banking stocks continued to fall sharply as active selling pressure dominated today's session.

Yesterday, except for HDB, which kept its reference price unchanged, all bank stocks listed on the Ho Chi Minh City Stock Exchange (HoSE) decreased in price. This development occurred after the State Bank reduced its operating interest rate for the second time this year.

The red color on the board with the banking sector continued today. There were 15/27 codes recorded price decrease, the strongest was SGB down 6.1%. Many codes were heavily sold by investors such as STB, SHB , ACB, VPB. Most of the trading time, these codes recorded active selling force accounting for more than half.

Sacombank 's stock code recorded nearly VND960 billion in transactions, the largest in the entire market, but mainly active sellers. At times, selling pressure accounted for almost the entire transaction value of this stock. STB closed the session down 1.5% compared to the reference.

According to VNDirect, VPB is the stock that contributed the most to the decline of the entire market today. Two representatives STB and SHB are also in the top 10 that negatively impacted the HoSE.

However, this industry still recorded four stocks increasing in price, including LPB, VCB, BID and NAB. Of which, VCB was the second code in the group contributing to the increase of the whole market.

At times, VN-Index was pulled down below the reference by bank stocks, this index later However, the market still managed to rise thanks to the positive performance of the industrial and real estate groups. In particular, real estate recorded 8 ceiling codes including NTC, MH3, SII, BVL, MGR, SJS, SGR and TDH. In addition, stocks with medium and large capitalization also increased in price, notably IDC increased by 4.6% compared to the reference.

At the end of the session, VN-Index increased by more than 2.8 points compared to yesterday, reaching 1,064.6 points. However, the market fell into a state of "green skin, red heart" when 216 stocks decreased, only 172 stocks increased. The same situation also happened with VN30.

The "medicine" of reducing interest rates could not stimulate the market immediately when HoSE liquidity decreased by 15% to over VND11,700 billion, the lowest level in the past 7 sessions. Foreign investors still maintained net selling momentum for four consecutive sessions, with the difference between selling and buying nearly VND400 billion. Today, foreign investors preferred to sell HPG, VND, HSG.

Siddhartha

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