VN-Index recovers strongly after breaking below the 1,200-point mark.

Bottom-fishing demand surged after the VN-Index fell below the 1,200-point mark. Many stock sectors experienced strong recoveries.

Bottom-fishing demand surged after the VN-Index fell below the 1,200-point mark. Many stock sectors experienced strong recoveries.

After a day of heavy selling pressure from foreign investors amid weak domestic capital flows, the trading session on November 20th saw widespread selling pressure continue, pushing indices below the reference level. The selling pressure from foreign investors remained significant and was the main reason for the sharp decline in many key stocks.FPT and MWG were the focus of foreign selling. A series of stock sectors experienced sharp declines, causing the VN-Index to briefly fall below 1,200 points. The lowest point for the index was 11,982 points.

Immediately after the VN-Index breached the 1,200-point mark, bargain-hunting demand was triggered, helping many stock sectors recover and reversing the trend. Trading in the afternoon session was relatively smooth, despite occasional strong selling pressure. All indices closed in positive territory.

At the close of trading, the VN-Index rose 11.39 points (0.95%) to 1,216.54 points. The HNX-Index increased 1.61 points (0.73%) to 221.29 points. The UPCoM-Index rose 0.79 points (0.87%) to 91.09 points. Across the market today, 471 stocks increased, while only 247 decreased and 843 remained unchanged. The market recorded 26 stocks hitting the ceiling price, but 21 stocks hit the floor price. Real estate stocks performed best today and were the main factor driving capital flows to many other sectors.

The real estate sector was a focal point for NVL shares, which surged after news on November 19th that the Chairman of the People's Committee of Dong Nai province, Vo Tan Duc, had signed Decision No. 3479 officially approving the partial adjustment of the 1/10,000 general planning, marking a decisive step in resolving the legal issues for Novaland Group's Aqua City project, which had been stalled for over two years.

The recently announced adjustments focus on population size and land use targets in sub-area C4, part of the urban area west of the Bien Hoa - Vung Tau expressway. This is an important legal step to resolve issues for many projects of various businesses; ensuring the synchronization of subsequent planning levels, paving the way for the completion of the adjustments to the C4 sub-area plan and the 1/500 detailed plan of the Aqua City project, expected to be completed in early 2025.

Despite the general market sell-off, NVL maintained its strong upward momentum. At the close of trading, NVL rose 4.65%. Meanwhile, DXG surprised everyone by being one of the strongest gainers in the real estate sector, rising 6.2%. DXS also increased by 6.5%. Other real estate stocks such as VRC, DIG, PDR, TCH, CEO… also saw significant price increases.

Sectors such as securities, ports and shipping, industrial parks, and fisheries have all shown good recovery.

Within the VN30 group, VHM, FPT, CTG, TCB, BID… saw good price increases and contributed to the overall market rise today. VHM increased by more than 2.6% and was the stock with the most positive impact on the VN-Index, contributing 1.16 points. FPT, after being heavily sold off at the beginning of the session due to pressure from foreign investors, recovered very well and closed up 1.85%.

Conversely, MWG was the stock with the most negative impact on the VN-Index, deducting 0.25 points. Despite some efforts, and even periods of good price increases, MWG faced strong selling pressure, particularly from foreign investors, resulting in a 1.22% decrease at the close. Stocks like GAS and VTP also bucked the general market recovery trend. VTP fell sharply by nearly 5%. Other stocks in the Viettel group, such as VGI, VTK, and CTR, were all in the red.

The total trading volume on the HoSE reached 767.5 million shares, equivalent to a trading value of VND 17,807 billion, an increase of 34.4% compared to the previous session, of which block trades accounted for VND 2,614 billion. The trading value on the HNX and UPCoM was VND 1,011 billion and VND 596 billion respectively.

VHM and FPT were the two stocks with trading values ​​exceeding 1,000 billion VND today. VHM had the highest trading volume at 1,221 billion VND, followed by FPT at 1,092 billion VND. DXG and HPG ranked next with 831 billion VND and 584 billion VND respectively.

Foreign investors continued to net sell VND 1,245 billion across the market on November 20th. VHM topped the list of net selling with VND 340 billion, followed by FPT with a net selling value of VND 258 billion. MSB, HPG, and SSI all saw net selling exceeding VND 100 billion. Conversely, CTG was the most heavily net bought stock with VND 68 billion. DIG and MWG were net bought for VND 48 billion and VND 39 billion respectively.

Source: https://baodautu.vn/vn-index-hoi-phuc-manh-after-breaking-the-1200-point-mark-d230515.html