The market was highly polarized, with the VN-Index experiencing a slight decline in the final trading session of the third quarter.
Trading on the market was cautious during the final trading session of the third quarter of 2024. Red dominated on the last day of the third quarter of 2024 – a time when many funds finalize their net asset value (NAV).
Last weekend, the VN-Index briefly surpassed the 1,300-point mark, but strong selling pressure subsequently pushed the index back down.
Entering the trading session on September 30th, trading on the market was relatively volatile. Investor sentiment remained cautious as today marked the end of the third quarter of 2024 – a time when many funds finalize their net asset value (NAV).
Demand was relatively weak today as the VN-Index hovered above 1,290 points. Meanwhile, selling pressure increased in this area. This resulted in the indices trading in the red for most of the session.
The focus of today's market session was on three bank stocks: MSB, TPB, and VPB. VPB rose nearly 1.8% and was the main factor supporting the VN-Index. VPB also contributed the most to the VN-Index with 0.67 points. In addition, MSB increased by 3.6% and TPB by 1.8%. These two bank stocks contributed 0.28 and 0.19 points to the VN-Index, respectively.
Steel sector stocks also attracted significant investor attention with strong gains at the beginning of the trading session. However, general selling pressure prevented many stocks in this group from maintaining their upward momentum. HPG rose 1.15%, contributing 0.46 points to the VN-Index. VGS increased 1.8%, HSG 1.7%, and NKG 1.14%. On September 30th, domestic steel prices remained unchanged; iron ore prices rose to nearly $100/ton after China pledged further stimulus measures.
In the securities sector, trading was also relatively active, with VGS rising 2.5%, VCI rising 2.23%, AGR rising 1.6%, FTS rising 1.1%, etc.
Market divergence was relatively strong, with real estate stocks trending negatively. NVL was a key factor driving the decline in this sector. NVL was heavily sold off from the start of the session and at one point reached the floor price. However, strong buying demand at lower prices helped the stock close with a 4.33% decrease and 30.2 million units traded.
The sharp sell-off in NVL today stems from the fact that profits turned into losses of VND 7,300 billion after the 2024 semi-annual review. Explaining the reasons, NVL stated that the main cause was the provision for land lease fees and land use fees, and a reduction in profits as required by the auditing firm.
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| Top 10 stocks impacting the VN-Index. |
Besides NVL, real estate stocks such as HPX, VRE, VHM, PDR, VIC, KHG, HDC… all plunged into the red. VHM fell 1.4%, subtracting 0.63 points from the VN-Index.
In addition, large-cap stocks such as VCB, BID, VNM, BCM, and GVR all declined simultaneously, putting significant pressure on the overall market. VCB fell by 0.54% and was the stock with the most negative impact on the VN-Index, contributing 0.68 points.
At the close of trading, the VN-Index fell 2.98 points (-0.23%) to 1,287.94 points. Across the entire exchange, there were 153 gainers, 241 losers, and 70 stocks unchanged. The HNX-Index fell 0.8 points (-0.34%) to 234.91 points. Across the entire exchange, there were 61 gainers, 98 losers, and 64 stocks unchanged. The UPCoM-Index fell 0.34 points (-0.36%) to 93.56 points.
The total trading volume on the HoSE today reached over 748 million shares, worth 16,289 billion VND, a 24% decrease compared to the previous session, of which block trades accounted for 1,173 billion VND. Trading values on the HNX and UPCoM were 1,147 billion VND and 654 billion VND respectively.
No stock reached a trading volume exceeding 1 trillion VND today. HPG led in trading value with over 989 billion VND. TPB and VPB traded 648 billion VND and 531 billion VND respectively.
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| Foreign investors returned to net selling. |
Foreign investors resumed net selling of over 500 billion VND on the HoSE. The strongest net selling was in HPG shares, totaling 291 billion VND. Despite significant selling pressure from foreign investors, support from domestic investors helped Hoa Phat shares close in positive territory. Meanwhile, STB and GM shares, which also experienced heavy selling by foreign investors (110 billion VND and 51 billion VND respectively), both declined in price.
Conversely,FPT saw the strongest net buying with 44 billion VND. SSI and VHM were also net bought with 36 billion VND and 35 billion VND respectively.
Source: https://baodautu.vn/thi-truong-phan-hoa-manh-vn-index-giam-diem-nhe-trong-phien-cuoi-quy-iii-d226219.html
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