Stocks fall the most in two months

VN-Index lost 1.3% (down more than 15 points) after the session on January 31, the sharpest decline since late November 2023, when bank stocks were sold off massively.

Stocks fluctuated strongly in today's session, after more than a week of moving sideways with a narrow range. VN-Index opened above the reference level, but gradually decreased as trading time progressed. Selling pressure in the "king stocks" group increased rapidly, causing red to gradually dominate. At the end of the morning session, the HoSE index retreated to near the 1,170 point threshold.

Selling pressure increased in the afternoon session as the psychology of withdrawing money before Tet increased. Red spread widely, not only in the banking group. The decline of many stocks widened to over 3%. In the middle of the afternoon session, VN-Index had a slight recovery, then continued to decrease. The index of HoSE closed at the lowest level of the session, losing more than 15.3 points (1.3%), down to 1,164.31 points.

The 1.3% decrease is also the highest figure in more than two months, since the end of November 2023. VN30-Index decreased by the same amplitude, to 1,166.33 points. On the Hanoi Stock Exchange, HNX-Index and UPCOM-Index were both in red.

Total market liquidity reached over VND27,145 billion. Of which, liquidity on the HoSE floor accounted for over VND23,300 billion, an increase of over VND11,000 billion compared to the previous session and the highest level since January 4.

HoSE floor has 101 stocks increasing in price, compared to nearly 400 stocks decreasing in price.

The banking group was the main cause of market fluctuations. The group of stocks with the highest proportion in the market capitalization basket decreased by nearly 2%. In VN30, SHB decreased by more than 5%, the code with the strongest decrease in today's session. VCB, STB, TPB lost more than 2% of market value, CTG, TCB, MBB decreased by 1.6-1.9%.

Oil and gas, chemicals, consumer goods and real estate are also names that dragged the market down. VRE ranked second in the VN30 group in terms of decrease with more than 4%, MSN, GVR lost more than 2%. In the mid-cap group, red dominated.

Some stocks that went against the trend today, such as NVL, increased by 1.5% after reporting the highest profit in three years, stocks in the securities industry, and some construction stocks also remained green.

Foreign investors net bought nearly 120 billion VND today, for the second consecutive session.

Minh Son

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