Up to 111 stocks hit the floor, causing VN-Index to lose 60 points in the first session of the week.

The stock market marked the sharpest decline in nearly two years when the VN-Index lost 60 points due to widespread selling pressure, leading to 111 stocks falling to their full range.

Before the first trading session of the week, many analysis groups said the risk of the VN-Index falling below 1,250 points this week was relatively low.

However, the actual developments proved the opposite when the index representing the Ho Chi Minh City Stock Exchange only maintained green in the first few minutes before reversing below the reference. A series of stocks faced fierce selling pressure, causing the VN-Index to widen its decline towards the end of the session before closing at 1,216.61 points, down 60 points, equivalent to 4.7% compared to the reference. This is the sharpest decline in nearly 2 years. The last time the index fell more than this level was on May 12, 2022, when it lost 62.69 points, equivalent to 4.82% compared to the reference.

The market was completely dominated by red as the number of stocks falling reached 475, nearly 12 times the number of stocks rising. Of these, 111 stocks fell to the limit and most of them closed without buyers. In the VN30 basket alone, 29 stocks fell, of which 6 hit the floor, including BCM, BID, GVR, MSN, SSI and VRE. Shares of Saigon - Hanoi Commercial Joint Stock Bank (SHB) were the only stocks to go against the trend in the large-cap basket, rising 0.4% to VND11,350.

Most of the stocks at the top of the list negatively affecting the VN-Index belong to the banking group. Specifically, the top 4 codes on this list are all pillars of the banking group such as BID down 6.93% to 49,700 VND, VCB down 2.75% to 92,000 VND, CTG down 6.82% to 33,450 VND and TCB down 6.33% to 44,400 VND. The remaining representatives on this list are VHM, VPB, GVR, GAS, HPG and MSN.

On the other hand, SHB with an increase of 0.44% has become a pillar for the market. The next stocks on this list are mostly small-cap stocks such as QCG, TMS, TNC, OPC...

Map of capitalization of Ho Chi Minh City Stock Exchange in session 15/4.

Investors rushed to sell, pushing market liquidity to skyrocket in the first session of the week with 1.45 billion shares changing hands, an increase of more than 500 million shares compared to the session at the end of last week. The transaction value on the Ho Chi Minh City Stock Exchange reached VND33,568 billion, far exceeding the VND24,070 billion of the previous session.

Ho Chi Minh City Stock Exchange today saw 6 stocks with transaction values of thousands of billions. Specifically, NVL had more than 71 million shares successfully transferred, leading in transaction value with 1,222 billion VND. Following them were SHB (1,162 billion VND), MBB (1,158 billion VND), DIG (1,154 billion VND), SSI (1,083 billion VND) and CTG (1,042 billion VND). In addition, the market also recorded many stocks with transaction values of over 800 billion VND such as CTG, HPG, VHM and MWG.

Foreign investors extended their net selling streak to the second consecutive session. This group today disbursed VND1,841 billion to buy 67.9 million shares while selling 103.3 million shares, equivalent to VND3,079 billion. Accordingly, the net selling value reached VND1,238 billion, marking the session with the strongest selling pressure in the past 3 weeks.

VHM was the stock facing the strongest selling pressure from foreign investors with a net value of over VND278 billion, followed by CTG with over VND207 billion and SSI with over VND83 billion. On the other hand, foreign investors took the opportunity to buy MWG shares with a net value of over VND105 billion.

Source