Bank stocks support the market, real estate turns red

The sharpest decline of the Vn-Index at the beginning of the year in the morning was stopped by cash flow into the banking group, while real estate had negative developments.

VN-Index moved below reference all day today as selling pressure appeared from the beginning of the session and spread throughout the market. In the morning, the index was close to 1,147 points - the sharpest drop since the beginning of the year. However, later, the index representing the HoSE gradually improved.

At the end of the session, VN-Index decreased by more than 7.5 points to about 1,154.7 points, the lowest level this week. The entire HoSE floor had 380 stocks decreasing in price, while the number of stocks increasing was 132 stocks.

Today, the banking group played a major role in supporting the market to avoid a deep decline as cash flow continued to pour in. In the top 10 stocks that contributed positively to the general index, this sector accounted for 7 codes including MBB, CTG, ACB, TCB, STB, SHB and HDB. Overall this week, banking stocks were still the group that contributed most positively to the VN-Index and became the focus of investment, attracting large cash flows.

Except for banking and auto parts, all other sectors declined. Real estate, with its high liquidity, became the main factor pushing the market down in today's session.

Red dominated the real estate industry's board. NVL, CII and HDC are three stocks with a total transaction value of hundreds of billions of VND, all down over 3%. Other stocks with high liquidity such as DIG, DXG, CEO, KBC, IDC and TCH all recorded a market price drop of over 2%. This industry also recorded VHM as the third in the group of stocks causing the most loss in VN-Index.

During the session, the market prioritized sell orders, and liquidity on the HoSE floor increased quite strongly. Compared to yesterday, the total accumulated transaction value increased by about 5,400 billion to more than 22,700 billion VND. The bright spot was that foreign investors continued to net buy in the second session. However, the value only reached about 12 billion VND.

Vietcombank Securities (VCBS) forecasts that next week the VN-Index may continue to experience fluctuations and corrections. This analysis group recommends that investors should closely follow the market at the 1,150 and 1,130 point levels.

Siddhartha

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