Under heavy selling pressure, the VN-Index once again lost the 1,700-point mark.

The trading session on December 11th began with attempts by many sectors to hold their prices steady in the morning. However, increasing selling pressure emerged in the afternoon, targeting large-cap stocks and causing the main index to plummet.

At the close of trading, the VN-Index fell 20.08 points (equivalent to 1.17%), dropping to 1,698.90 points. This was the third consecutive day of sharp declines this week, confirming unfavorable technical signals as the important psychological level of 1,700 points was once again breached.

The main factor causing today's market volatility came from the VN30 group, as the index representing this group fell by as much as 22.89 points.

Most notably, the stock of airline VJC ( Vietjet Air) plummeted. This stock became the biggest drag, falling sharply by 4.4% to 188,000 VND per share.

In addition, the Vingroup group, which had been a pillar of support in previous sessions, also simultaneously reversed course and corrected, creating a negative domino effect. Specifically, VIC fell 1.9% to 146,000 VND; VHM fell 2.3% to 101,100 VND; and VRE fell 1.7%.

- Ảnh 1. — The stock market was dominated by red on December 11th.

The banking sector was also not immune to the downward trend. VPB ( VPBank ) fell sharply by 2.9% to 28,150 VND, STB lost 1.9%, MBB decreased by 1.2%, while major players like VCB, CTG, TCB, and BID all plunged into the red with declines of around 1%.

The cash flow picture reveals a disheartened sentiment among short-term investors. The total value of cash flow from selling (actively lowering prices) reached over 10,008 billion VND, more than three times the cash flow from buying (3,024 billion VND).

Market breadth heavily favored sellers, with 192 stocks declining compared to 104 rising and 75 unchanged. Total trading volume on the HoSE reached over 16,244 billion VND; while not exceptionally high, the concentration of selling pressure indicates that those holding shares are losing patience.

Foreign investors continued to be a negative factor, maintaining their net selling trend for the fifth consecutive session. Specifically, they sold a net 488.52 billion VND, focusing heavily on VIC (-190 billion VND), STB (-158 billion VND), and VHM (-105 billion VND). Conversely, a rare bright spot was the strong net buying of FPT (+240 billion VND).

Amidst the gloomy market, BMP (Binh Minh Plastic) shares suddenly shone brightly, surging 7% to the ceiling price with no sellers, reaching a market value of 168,700 VND. In addition, FPT, the leading technology company, also demonstrated strong internal strength, reversing its trend to increase 0.4% to 96,000 VND thanks to support from foreign investors.

In the mid-cap group, despite facing general pressure, the decline was not as drastic as in the blue-chip stocks. Real estate and securities stocks such as DXG, DIG, SSI, and VND only fell slightly by less than 1% or remained at the reference price, indicating that the supply in this group has eased after the previous correction sessions.

According to analysts, a breach of the 1,700-point mark by the VN-Index will trigger defensive sentiment. The next support level is expected to be around 1,680 points.

Source: https://nld.com.vn/suc-ep-co-phieu-lon-vn-index-lai-mat-moc-1700-diem-196251211152829531.htm