VN-Index rose by more than 17 points.

VTV.vn - The stock market on March 17th witnessed a tug-of-war as selling pressure intensified sharply in the afternoon session, significantly narrowing the gains.

Illustrative image.

Nevertheless, the VN-Index managed to maintain its positive momentum and successfully reclaimed the 1,700-point mark.

At the close of trading, the VN-Index rose 17.08 points to 1,710.29 points, while the HNX-Index increased by more than 1 point to 246.86 points. Total market liquidity reached approximately 27,600 billion VND. The market leaned towards the positive side, with a majority of stocks gaining in price.

The market opened with an optimistic sentiment as early buying pressure increased, helping the VN-Index rise by more than 30 points at one point, surpassing the 1,720 point mark in just about an hour of trading. The main driving force came from large-cap stocks, especially those belonging to the Vingroup and Gelex ecosystems, along with the banking and securities sectors.

The securities sector was a standout spot, with strong capital inflows and many stocks surging, such as VCK and TCX hitting the ceiling price, VIX rising over 4%, along with a series of stocks including SSI, VND, VCI, and HCM maintaining positive momentum. In addition, the banking sector acted as a pillar of support, with many large-cap stocks like VCB, BID, CTG, MBB, VPB, and TCB all rising over 1%, contributing to the index's upward movement.

However, after a strong surge at the beginning of the day, the market gradually slowed down as profit-taking pressure increased, especially in large-cap stocks at leading sectors. Most stocks in the VN30 basket cooled down from their morning peaks, causing the overall index to narrow its gains.

Negative developments spread across several sectors. The oil and gas and chemical sectors faced strong selling pressure, with numerous stocks experiencing sharp declines; in particular, BSR , DPM, DCM, and DGC all hit their lower limit; PVD, PVS, PVT, PLX, and OIL also fell sharply.

Notably, DGC shares experienced a sharp sell-off in the afternoon session following news of the indictment of the company's leadership. After a slight increase in the morning session, the stock quickly fell to its lower limit with a large sell order of 12.6 million shares. Prior to this, the stock had already experienced two consecutive sessions of sharp declines, indicating a significant increase in selling pressure.

The divergence also spread to the real estate, industrial, and consumer sectors, with sellers dominating. However, some individual bright spots emerged, such as GEE and MCH hitting their upper limits. The information technology sector maintained positive performance, withFPT , ELC, and CMG remaining in the green until the end of the session.

Foreign investors continued to net sell nearly 690 billion VND, mainly concentrated in VIC through block trades. If this transaction is excluded, foreign investors actually net bought during the session.

Despite maintaining positive momentum, market liquidity remained at its lowest level in about four weeks, indicating that cash flow has not truly improved. Increased selling pressure in the afternoon narrowed the gains, reflecting the cautious sentiment of investors.

Source: https://vtv.vn/vn-index-tang-hon-17-diem-100260317173149707.htm