Record amount of money
The stock market session on May 17 was volatile right from the opening. The VN-Index fluctuated within a narrow range around the reference level with divergence. Cash flow tended to choose small-cap stocks and move away from large-cap stocks.
According to VCBS Securities Company, the downward adjustment pressure from more than 15 large-cap stocks in the VN-30 group also negatively impacted the market and caused the general index to not have many positive changes. Selling pressure increased somewhat in the afternoon session, causing the VN-Index to lose its green color and reverse to fall below the reference level.
At the close of the stock trading session on May 17, VN-Index decreased by 5.47 points, equivalent to 0.51% to 1,060.40 points; VN30-Index decreased by 7.54 points, equivalent to 0.7% to 1,062.1 points.
The stock market session on May 17 recorded record cash flows. But this is also a negative signal when the VN-Index is submerged in red. Illustrative photo
The highlight of the May 17 stock market session was the record high cash flow during this period. Up to 837 million shares, equivalent to VND13,273 billion, were successfully traded. Thus, after the May 17 session, the Ho Chi Minh City Stock Exchange had another session with liquidity exceeding the VND13,000 billion mark.
The whole floor had 141 stocks increasing in price, 49 stocks remaining unchanged and 246 stocks decreasing in price.
On the Hanoi Stock Exchange, the indices were also in the red. The HNX-Index fell 1.76 points, or 0.82%, to 212.86 points; the HNX30-Index fell 6.69 points, or 1.7%, to 386.23 points.
However, in the stock market session on May 17, the liquidity of the two exchanges was opposite. While cash flow was still pouring into the Ho Chi Minh City Stock Exchange, on the Hanoi Stock Exchange, only nearly 120 million shares, equivalent to VND1,650 billion, were successfully traded.
Recently, there have been sessions where the transaction value of HNX has reached about 2,000 billion VND. However, 1,650 billion VND is still not a small number on the Hanoi Stock Exchange.
Cash flow "turns its back" on big stocks
Besides the decline in points and record high cash flow, another highlight of the stock market session on May 17 was that demand mainly sought small and medium-cap stocks and "turned its back" on big-cap stocks.
On the Ho Chi Minh City Stock Exchange, the VN30 group only had 196 million shares, equivalent to VND4,837 billion, successfully traded. Thus, the trading value of large-cap stocks only accounted for 36.4% of the total trading value on the entire Ho Chi Minh City Stock Exchange.
Cash flow away from blue-chips, VN30 is in red. In fact, if it had not received support from VCB and VIN stocks, the stock market on May 17 would have fallen deeper.
Specifically, at the close of the stock market session on May 17, VCB increased by VND 200/share, equivalent to 0.2% to VND 92,800/share, VIC increased by VND 300/share, equivalent to 0.6% to VND 53,200/share, VHM increased by VND 1,200/share, equivalent to 2.3% to VND 53,400/share.
On the other hand, some blue-chips contributed to the red color of the May 17 stock market session. NVL decreased by 350 VND/share, equivalent to 2.6% to 13,300 VND/share, TPB decreased by 600 VND/share, equivalent to 2.5% to 23,250 VND/share, VPB decreased by 400 VND/share, equivalent to 2% to 19,200 VND/share,...
According to VCBS, the most prominent group of real estate stocks increased by approximately 1%. Notably, foreign investors returned to net buying in the afternoon session with liquidity of 122 billion, focusing on buying HPG, VHM, HPX.
According to VCSB, it can be assessed that VN-Index is still showing a positive accumulation adjustment trend. Technical analysis shows that VN-Index is showing a recovery trend.
“We still maintain our view and recommend that investors maintain a safe stock ratio of 30-40%, but can consider filtering out stocks that have adjusted before the market in previous sessions and switch to active accumulation in today's session to increase purchases,” VCBS advised investors.
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