VN-Index ended a 7-session winning streak amid confusion among many investors as they were unable to trade early this afternoon.
At the end of the session on March 6, VN-Index closed at 1,262.73 points, down more than 7 points compared to yesterday's session, officially ending the 7-session consecutive increase streak from last week until now.
The HNX and UPCoM floors also decreased, closing at 235.45 points and 91.24 points, respectively.
Liquidity remains stable, the whole market is 27,800 billion VND.
On the HOSE floor alone, cash flow reached nearly VND25,000 billion, with 356 stocks decreasing, 130 stocks increasing and 67 stocks remaining unchanged. Of which, SSI was the leading stock in terms of trading value on the HoSE floor, at VND1,030 billion.
The tug-of-war situation gradually became clear in today's session. Right from the beginning of the session, the price was pulled up high, but immediately after that, selling pressure suddenly increased, pushing a series of stocks down in price.
The weight, creating resistance for the market, is mainly a series of large stocks from the VN30 group and stocks that have been flourishing recently suddenly turned around and plummeted.
Specifically, FPT (FPT, HOSE) led the way, down 1.45%, contributing 1.02 points; VPB (VPBank, HOSE) down 1.77%, contributing 0.98 points; MWG (Mobile World, HOSE) down 2.66%, contributing 0.88 points;…
Banking, securities, and real estate stocks recorded many sharp declines: EIB (Eximbank, HOSE), ACB (Asia Commercial Bank, HOSE), SSI (SSI Securities, HOSE), VND (VNDirect Securities, HOSE), NVL (Novaland, HOSE), VHM (Vinhomes, HOSE),...
Group of stocks affecting the index
The sharp decline creates resistance to market traction (Source: SSI iBoard)
Besides the overall market decline, the seafood, utilities, food and beverage industries were bright colors, contributing positively to today's session.
Playing the role of a pillar is the banking sector stock TCB (Techcombank, HOSE) up 1.3%. Next is the food and beverage group MSN ( Masan , HOSE) up 1.59%, SAB (Saigon Beer) up 4.07%. In addition, the bright spot of the seafood sector appeared with VHC (Vinh Hoan, HOSE) up 1.64%.
Foreign investors net sold 237.7 billion VND in today's session. This is also the second consecutive net selling session on the HOSE with a net selling value of nearly 163 billion VND. Of which, the group of stocks sold the most are VHM (Vinhomes, HOSE), VIX (VIX Securities, HOSE), VCI, GEX, VIC, VNM.
Besides the strong selling pressure, the error incident at HOSE floor when testing the KRX system was of interest to investors in today's session.
Red color spreads across the market in the context of today's downward session
During the early afternoon trading session, many investors reported having problems placing orders on the HOSE floor, specifically: the electronic board almost did not switch transactions, and orders could not be placed.
Immediately afterwards, securities companies announced unstable connections with the HOSE floor and advised investors not to execute orders.
At the same time, the market lost 11 points. Therefore, this is believed to help the VN-Index narrow the decrease range.
This incident occurred right after HOSE notified securities companies about the first system conversion exercise plan of the KRX Information Technology Project.
Accordingly, from March 4-8, HOSE will convert the system. Securities companies prepare the system for conversion according to schedule, conduct system checks and test the conversion on March 7.
From March 11 to 15, securities companies will test the entry of trading orders, ensuring operations like a normal trading day.
Regarding this incident, the Ho Chi Minh City Stock Exchange (HOSE) confirmed that the trading system in today's session was operating normally. Currently, HOSE is coordinating with the service provider supporting the empty system operation (FPT Information System Company Limited) to check and verify the cause.
The order congestion is occurring in the context of the new KRX system entering the urgent phase. The KRX system is expected to help investors trade conveniently and quickly, contributing to liquidity growth and upgrading the stock market.
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