The stock market was awash in red.

Increased selling pressure caused most stocks to fall, especially large-cap stocks, pushing the VN-Index down by more than 50 points, below the 1,650-point mark.

On the Ho Chi Minh City stock exchange, the market only showed green in the first few minutes of trading, remaining in the red for the rest of the session. Notably, in the afternoon session, stronger selling pressure caused the market to fall sharply.

At the close of trading, the VN-Index stood at 1,646.89 points, down 52.01 points (-3.06%); the VN30-Index fell 57.26 points (-2.98%), to 1,867.03 points.

Stock prices plummeted. Screenshot.

Market breadth leaned heavily toward the downside, with 296 stocks showing red (including 31 that hit the floor limit), and only 40 showing green. In the VN30 basket, only one stock increased, while the rest declined.

Earlier yesterday, the market declined due to the impact of Vingroup 's stock. Several securities companies predict that the VN-Index may continue to face downward pressure, potentially falling to the 1,600-1,650 point range.

In this session, Vingroup's shares continued to strongly impact the market's decline. Leading the way was VHM, the second largest stock in the market, which fell to its floor price, dragging the VN-Index down by 6.66 points. In addition, VPL and VIC deducted 2.62 points and 1.91 points respectively.

The banking sector also contributed to the market's sharp decline, with five stocks – VPB, TCB, MBB, VCB, and HDB – among those that dragged down the market the most points. VPB alone deducted 2.98 points, while the remaining four each deducted more than 1 point.

Selling pressure caused all sectors to decline, with nine sectors falling by 3% or more.

Liquidity increased compared to the previous session, reaching 24,600 billion VND. However, this level of liquidity indicates that investor sentiment remains cautious and the pressure to sell off is not yet clear.

The market decline was also due to foreign investors continuing to be net sellers, with purchases exceeding VND 2.158 billion and sales exceeding VND 2.729 billion.

On the Hanoi Stock Exchange, the HNX-Index fell to 250.09 points, down 5.78 points (-2.26%); the HNX30-Index dropped to 530.84 points after falling 22.05 points (-3.99%). Nearly 2 trillion VND worth of shares changed hands across the entire exchange.

Source: https://hanoimoi.vn/thi-truong-chung-khoan-chim-trong-sac-do-726570.html