VN-Index loses nearly 20 points, but one stock still "shines".

(NLĐO) - Intense pressure from foreign investors and the weakening of Vingroup's stock group caused the VN-Index to fall nearly 20 points at the close of trading on May 22.

On Friday, May 22nd, the domestic stock market continued to face short-term correction pressure.

The VN-Index quickly plunged into the red from the opening minutes and continued to slide throughout the morning session. At one point, selling pressure pushed the HoSE index to a free fall of 1,856.08 points, equivalent to a drop of more than 40 points compared to the reference level.

However, the familiar "reversal" scenario of recent sessions was once again sparked in the afternoon. Active bargain-hunting buying at low price levels helped the VN-Index gradually narrow its decline, pushing the chart towards the 1,880 point mark.

However, this recovery effort was not complete. Pressure from large-cap stocks in the final minutes caused the index to reverse and cool down.

At the close of trading, the VN-Index fell 19.76 points (equivalent to 1.04%), to 1,877.13 points. Similarly, the VN30 basket also recorded a decrease of 16.58 points (-0.82%), to 2,010.93 points. Market breadth on the HoSE leaned towards the selling side with 177 declining stocks, 133 rising stocks, and 52 unchanged stocks.

The biggest factor holding back the market today was the widespread weakness of Vingroup -related stocks. Persistent selling pressure prevented these key stocks from recovering until the market closed.

Specifically, VHM fell sharply by 3.8%, VRE lost 3.4%, while "big brother" VIC also declined by 1% and VPL decreased slightly by 0.1%. The decline in the Vingroup group alone wiped out a significant number of points, stifling the overall market's recovery efforts.

In addition, the banking and oil and gas sectors have also failed to find balance. Large oil and gas stocks such as PVD (-3.7%), BSR (-3.3%), GAS (-2.7%), and PLX (-2.3%) all fell into the red. The banking sector was mixed, but major players like VCB (-2.2%), BID (-1.8%), and VPB (-0.7%) added further weight to the index.

However, the most worrying development, and also the biggest obstacle to the VN-Index's attempt to reverse its downward trend, is the massive net selling by foreign investors. Statistics on the HoSE exchange show that foreign investors recorded a record-breaking selling session.

Specifically, this group only bought 1,791.56 billion VND but sold as much as 5,029.83 billion VND, corresponding to a net selling value of over 3,238 billion VND. The massive supply from foreign investors flooded the market, making it impossible for domestic investors, despite their efforts to buy at the bottom, to absorb it all.

The most positive and noteworthy aspect of the market picture on May 22nd was the strong breakout of several sector stocks after a period of deep correction, most notably securities and steel.

Despite the VN-Index falling sharply, capital continued to pour into the securities sector. VND shares became the focus of attention, surging by 6.7% and closing the week at the ceiling price of 17,450 VND per share.

The positive news reportedly comes from the fact that the Ho Chi Minh City People's Committee has just requested departments and agencies to expedite the removal of legal obstacles, land allocation for BT contract payments, adjustment of total investment, and disbursement of capital for the 10,000 billion VND flood control project invested by Trung Nam BT 1547 Co., Ltd. ( thuộc Trung Nam Group).

Immediately following this news, VND shares of VNDirect Securities, the unit that invested thousands of billions of dong in Trung Nam Group's bonds, instantly surged to the ceiling price of 17,450 dong, with over 45 million shares traded; foreign investors made net purchases of approximately 1.1 million units.

Other large-cap stocks in the sector also recorded impressive gains: SSI rose 1.7%, SHS rose 3.5%, FTS rose 3.4%, and VCI rose 1.6%.

Investors were constantly on edge during the volatile trading sessions. (Illustrative image by AI)

Similarly, the steel sector also witnessed a rise in mid-cap stocks. While HPG saw a slight correction of 0.8%, capital flowed into HSG, pushing it up 3.3%, NKG increased 1.5%, and VGS edged up 0.8%.

The recovery of these two cash-sensitive sectors shows that investor sentiment is not entirely pessimistic and they are still actively seeking opportunities in stocks that have discounted to attractive price levels.

Thanks to the influx of capital into mid- and small-cap stocks, the Hanoi Stock Exchange recorded a significantly more optimistic performance. The HNX-Index bucked the general market trend, closing up 3.14 points (+1.19%) at 267.51 points.

Market liquidity remained relatively positive, with over 846 million shares changing hands on the HoSE, equivalent to a transaction value of over 22,028 billion VND.

According to observers, the sharp divergence between stocks in different sectors, coupled with the ongoing selling pressure from foreign investors, indicates that the market is undergoing a severe psychological test, requiring high caution in portfolio risk management.

Source: https://nld.com.vn/vn-index-mat-gan-20-diem-mot-co-phieu-van-toa-sang-196260522152023423.htm