VN-Index dropped more than 7 points in the session of November 8, great pressure from Vinhomes stocks

Vinhomes shares fell 3.9% and were the “culprit” contributing the most points to the general index. A series of other large stocks such as VIC, VCB, CTG, VHM… decreased in price and created strong pressure on the general market.

Vinhomes shares fell 3.9% and were the “culprit” contributing the most points to the general index. A series of other large stocks such as VIC, VCB, CTG, VHM… decreased in price and created strong pressure on the general market.

Last night, the US Federal Reserve (Fed) announced its second interest rate cut this year, with a cut of 25 basis points amid cooling inflation, in line with investors' forecasts. This information somewhat supported the market in the early morning session with the support of many stock sectors. However, surprises quickly appeared when selling pressure increased. The increase of all three stock indices gradually narrowed. Demand appeared weak and investor sentiment became more negative, leading to a series of sectors going down, the indices therefore also fell below the reference level.

VHM is the name that many investors mentioned in today's session when it fell sharply by 3.38% and took away 1.47 points from the VN-Index. Although it has not reached the trillion VND liquidity level, VHM is still the stock with the largest trading value on the floor in the session of November 8 as well as the average of the last 10 sessions. Currently, Vinhomes is still in the stage of buying treasury stocks. The latest update from the HoSE floor, at the end of the session of November 8, the company bought a total of 113.5 million shares out of a total of 370 million shares registered to buy. The increase in the day was quite modest, just over 3 million shares.

The sharp decline of VHM has caused a lot of confusion for investors. Two other stocks in the same “Vin” family, VIC and VRE, also decreased by 1.6% and 0.55% respectively. Of which, VIC ranked 4th in the list of negative impacts on VN-Index with 0.6 points.

In addition, banking stocks also put a lot of pressure on the market. Codes such as VCB, CTG, TCB and VPB are all on the list of stocks that have the most negative impact on the VN-Index. VCB fell 1.07% and took 1.35 points off the index. CTG fell 1.7% and took 0.78 points off.

Another group of stocks that also created a negative sentiment for investors was the real estate sector. Of which, DXG decreased by 3.25% to VND16,350/share. DIG decreased by 1.88% to VND20,850/share. PDR decreased by 1.61% to VND21,350/share.

On the other hand, aviation stocks continued to move in a positive direction. HVN was the most positive contributor to the VN-Index with 0.83 points, up 6.67% to VND24,800/share. Other aviation stocks such as ACV, NCS, VJC... also increased in price, although the increase was not too strong. Positive movements also occurred in stocks such as textiles, seafood, wood...

Vinhomes stocks and two banking giants negatively impact the general index

Red dominated the stock market. In the VN30 group alone, only 4 stocks closed in green: BVH, FPT, VJC and HPG. BVH increased sharply by 2.85%, while the remaining 3 stocks all increased by less than 1%.

At the end of the trading session, VN-Index stood at 1,252.56 points, down 7.19 points (-0.57%). HoSE had 125 stocks increasing, 254 stocks decreasing and 62 stocks remaining unchanged. HNX-Index decreased 0.61 points (-0.27%) to 226.88 points. On HNX, there were 66 stocks increasing, 98 stocks decreasing and 52 stocks remaining unchanged. UPCoM-Index decreased 0.17 points (-0.18%) to 92.15 points.

The total transaction value on HoSE reached VND13,911 billion, up 12% compared to the previous session. Negotiated transactions alone contributed VND1,350 billion. Transaction values on HNX and UPCoM reached VND1,236 billion and VND525 billion, respectively. Notably, the transaction value on HNX skyrocketed thanks to SHS's negotiated transaction of more than 21.5 million shares, worth VND336 billion.

Foreign investors continue to extend their net selling streak.

Foreign investors increased their net selling of VND1,160 billion on HoSE today. Foreign investors have been net selling continuously since October 11. In the November 8 session, this capital flow sold the most CMG with VND178 billion. VHM and MSN were net sold VND160 billion and VND132 billion, respectively. In the opposite direction, HPG was the most net bought but the value was only VND43 billion. FPT was behind with a net buying value of VND20 billion.

Source: https://baodautu.vn/vn-index-giam-hon-7-diem-trong-phien-811-ap-luc-lon-tu-co-phieu-vinhomes-d229562.html