VN-Index fell sharply at the end of the session, wiping out the day's recovery gains.

The Vietnamese stock market closed the first trading session of the week on November 10 in red, as the VN-Index fell more than 18 points, falling to 1,580 points, wiping out all recovery efforts in the morning session.

VN-Index was “ambushed” at the end of the session, flying nearly 19 points – investors were confused

The morning session opened with a cautious mood, VN-Index fluctuated slightly around 1,600 points and at times decreased by more than 6 points. The decrease in liquidity showed that the cash flow was still on the sidelines, with low trading volume. However, at the beginning of the afternoon session, the market suddenly recovered when many groups of stocks rebounded, pulling the VN-Index up nearly 10 points to 1,609 points at one point.

The joy was short-lived, after only 14 hours, selling pressure increased rapidly, especially in the last 15 minutes of the closing session. Strong selling pressure caused the VN-Index to reverse and fall deeply, losing nearly 19 points, falling below the support zone of 1,600 points.

The VN30 Index also fell sharply by more than 20 points, while the HNX-Index lost nearly 2 points to 258 points. Total market liquidity reached only over VND21,300 billion, down more than 20% compared to the previous session, clearly reflecting cautious sentiment and defensive cash flow.

The decline at the end of the session mainly came from large-cap stocks. Of which, VHM became the "weight" dragging the market down when it fell 5.54%,FPT fell 4.75%, VRE lost 4.94%, and VIC slightly decreased 0.35%. The "Vingroup" and FPT groups were in the top 10 stocks with the most negative impact on the VN-Index.

Other stocks such as CTG, GAS, MBB, KBC, GEX, DXG, GMD all fell sharply by 3-5%, many stocks closed at the lowest price of the session. Notably, GEX was the only stock on HoSE to hit the floor, while GEE ( Gelex Electricity) also fell by 6.67%.

On the other hand, some codes still maintained green color such as SSI (+1.97%), HPG (+1.54%), TCB (+1.21%) helping the index avoid a sharper decline. However, the weight from the large-cap group made the positive impact of these codes become blurred.

According to statistics, 112 stocks on HoSE decreased by more than 1%, of which 55 stocks decreased by more than 2%. The group with the deepest decrease alone accounted for 46% of the total matched value of the entire floor, showing that the selling pressure was widespread.

Liquidity dropped 21% compared to the previous session, reflecting the withdrawal of speculative money. ACBS experts commented that VN-Index continued to fluctuate below the 20- and 50-day averages, weak bottom-fishing money flow hindered recovery efforts. The support zone of 1,600 points has now been penetrated, opening up the risk of the index finding lower zones around 1,560 points.

Similarly, TPS Securities believes that the 1,600-1,620 point area is a strong support zone, but if the VN-Index cannot hold, the possibility of a deep fall to 1,480-1,500 points should be considered.

Experts say the rapid reversal in the index in the last minutes reflects the FOMO (fear of buying, fear of selling) psychology of individual investors. When the market shows signs of strong profit-taking, investors fear losses and sell massively, creating a sell-off spiral, amplifying the downward trend.

Sharing the same view, according to Mr. Han Huu Hau, CEO-Hy Maxpro, a comprehensive financial expert, the decline that often appears after 2 p.m. coincides with the time when foreign investors increase net selling in the context of weak liquidity. "The market has been continuously hit at the end of the session in recent sessions, causing panic, causing individual investors to sell with the crowd," he commented.

With the current developments, analysts believe that the market is entering a period of increased short-term risks. The support zone of 1,560 points may act as the next test point, while the possibility of a sustainable recovery will only appear when large cash flows return.

In the context of weak liquidity, foreign net selling and pillar stocks not showing stable signals, experts recommend investors to keep the proportion of stocks low, avoid chasing and observe more signals at the next support zone to minimize risks.

Source: https://thoibaonganhang.vn/vn-index-giam-manh-vao-cuoi-phien-xoa-sach-thanh-qua-phuc-hoi-trong-ngay-173345.html