The recovery of large-cap stocks helped the market narrow its decline in the afternoon session of April 16.
After yesterday's sharp drop, market sentiment was negative right at the opening of the morning session. In the afternoon session, this sentiment increased, causing the VN-Index to quickly plummet and break the 1,200-point mark. However, when it broke through the important psychological threshold, bottom-fishing demand joined in, pushing the index back up.
At the end of the session, VN-Index closed flat at 1,215.68 points. HNX-Index decreased 0.88 points (-0.38%), down to 228.83 points. UpCoM-Index decreased 0.35 points (-0.39%), down to 88.63 points.
The recovery of large-cap stocks helped the market narrow its decline. The VN30-Index even closed in the green despite a slight increase of 0.39%. Although Vietcombank shares fell and were the stocks with the most negative impact on the VN-Index, the banking sector still contributed many faces to help push the index up. Leading the way were TCB (+0.97 points), BID (+0.85 points), CTG (+0.8 points), MBB (+0.66 points), GVR (+0.55 points).
Green dominated the banking group. Some stocks also traded quite positively, such as technology, rubber, and chemicals. However, the number of industries that decreased in points still prevailed.
On the HoSE, the matched order value reached VND27,211 billion, down -10.31% compared to the previous session, contributing mainly to the total transaction value of VND30,275 billion. On the HNX, the total matched order volume reached more than 134.7 million units, worth VND2,578.9 billion. Negotiated transactions added more than 3.07 million units, worth VND114.4 billion.
Foreign investors continued to have another day of light net buying. The net buying value of foreign investors reached nearly 44 billion VND on the three exchanges. Of which, some stocks with large amounts of purchase were SSI (90.47 billion VND), MWG (57.67 billion VND), VIX (55.82 billion VND), DGC (52.22 billion VND), DPG (50 billion VND).
According to BIDV Securities analysis, the short-term risk of the market is still quite high, the index may continue its downtrend in the short term with the support level at 1,200 points.
Vietnam's stock market has slightly recovered from the bottom before the derivatives expiration date, and it is possible that VN30 will create another unexpected surprise. In the derivatives market, all 4 VN30 index futures contracts have also narrowed their decline. Of which, VN30F2404 expiring tomorrow's session decreased by 6.3 points, equivalent to -0.51% to 1,230 points, with more than 385,500 units matched and more than 39,100 units opened.
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