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Despite strong cash flow, demand has not been sufficient to support the index amidst a wave of selling in large-cap stocks.
At the close of trading on March 3rd, the VN-Index fell sharply to 1,813.14 points, losing 32.96 points (1.79%) compared to the previous session. Hundreds of stocks were in the red. On the HOSE exchange, 214 stocks declined, overwhelmingly outnumbering the 120 that rose; the HNX recorded 90 gainers/77 losers; and UPCOM saw 149 gainers/129 losers. Liquidity remained high with a total market trading value exceeding 48,300 billion VND; HOSE alone accounted for over 42,300 billion VND.
The biggest pressure came from the real estate sector, especially two stocks belonging to the " Vingroup " group, VIC and VHM, which both fell to their floor price (down 7%), negatively impacting the index. The banking sector also weakened across the board, with stocks like BID, VCB, TCB, CTG, and MBB putting significant pressure on the VN-Index.
Conversely, the HNX-Index rose slightly thanks to the pull of the oil and gas and securities sectors. Stocks like PVS, MBS, SHS, and PVC contributed positively to the Hanoi Stock Exchange index.
The energy sector continued to be a bright spot, with a series of oil and gas stocks hitting their upper limit, such as POW, BSR , PVD, PVC, GAS, PLX, PVT…; many other stocks like PVS, OIL, PVB, PVP also surged strongly. Fertilizer stocks benefited from the energy sector's upward trend, with DCM and DPM hitting their upper limit or nearing it. The securities sector performed positively, with SSI, VND, MBS, SHS, and HCM increasing by 1-3%.
Foreign investors returned to net selling of over 782 billion VND, concentrated in HPG, VHM, and VNM; however, they made significant net purchases in VPB, SSI, and PC1.
The sharp decline in the VN-Index amidst high liquidity indicates that selling pressure remains dominant, especially in large-cap stocks. However, capital has not withdrawn from the market but is tending to shift to benefiting sectors such as energy, fertilizers, and a portion of the securities market.
Source: https://vtv.vn/vn-index-mat-gan-33-diem-100260303163310614.htm
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