Bank stocks “fall deeply” on November 11, HPG and FPT are not enough to “carry” the market

High demand at the end of the session helped the VN-Index recover strongly, although it has not yet regained its green color. Technology stocks were the bright spot of today's session, while the banking group "fell" deeply in price.

High demand at the end of the session helped the VN-Index recover strongly, although it has not yet regained its green color. Technology stocks were the bright spot of today's session, while the banking group "fell" deeply in price.

FPT stocks and technology groups traded actively on November 11.

VN-Index closed last week at 1,252.56 points, down 0.19% for the week, with trading volume up 1% but still only 75% of the average. The cautious sentiment of last week continued to be maintained right at the opening of the trading session on November 11. After a few minutes of struggling at the beginning of the session, selling pressure was pushed to a high level. A series of stock groups were submerged in red, causing the indices to fall below the reference level.

The market decline became stronger after about 10am. Although many sectors of stocks fell sharply, demand remained weak. The recoveries were “quick” and were soon overwhelmed by strong supply.

The first half of the afternoon session was negative. At one point, the VN-Index fell by more than 11 points. However, demand at low prices appeared strongly in the second half of the afternoon session. Many stock groups such as steel, fertilizer, seafood, textiles, seaports, etc. broke out and this helped significantly narrow the decline of the general market.

At the end of the trading session, VN-Index stood at 1,250.32 points, down 2.24 points (-0.18%). HNX-Index decreased 0.02 points (-0.01%) to 226.86 points. UPCoM-Index increased again 0.25 points (0.27%) to 92.4 points.

In total, 347 stocks increased, 322 stocks decreased and 901 stocks remained unchanged. Today's session, the whole market had 28 stocks hitting the ceiling and 11 stocks hitting the floor.

The session focused on technology stocks, seaports - shipping, fertilizers - chemicals and textiles. These groups all increased well from the beginning of the session despite the strong fluctuations of the general market. FPT increased by 1.84%, contributing 0.89 points to the increase of VN-Index.

According to information from FPT, this company has signed a record project of 225 million USD from an American customer. At the same time, this project also marks a step forward in the cooperation model with customers, from T&M (Time and Materials) to Managed Services (IT system management and monitoring services). The project will last for three years with the participation of more than 1,000 FPT software experts at onshore, nearshore, offshore. Not only FPT, the technology group recorded a breakthrough. CMG and ITC were pulled up to the ceiling price.

In the seaport - shipping group, VOS, VTO and VIP were all pulled up to the ceiling price. PHP increased by 6.7%, DXP increased by 6%, VSC increased by 3.2%. Fertilizer - chemical stocks also traded positively such as CSV increased sharply by 5.7%, DDV increased by 4.8%, LAS increased by 3.8%... Similarly, textile codes such as VGT, GIL, TNG... also maintained good price increases.

The Viettel group of stocks fluctuated strongly in today's session. At the beginning of the session, codes such as VGI, VTP, CTR... increased strongly but then most of them could not maintain the excitement. CTR ended the session down 1.4%, VTP down 2.5%. Meanwhile, VGI increased by 2% even though at one point it increased by more than 10%.

Among large-cap stocks, HPG created a big momentum to help the recovery spread at the end of the session. Closing the trading session, HPG increased by 2.6% to VND27,700/share. HPG was also the stock that had the most positive impact on the VN-Index, contributing 1.08 points.

Bank stocks negatively impact VN-Index.

In addition, large stocks such as VHM, HVN, GVR... increased in price and helped support the general market. On the contrary, the group of banking stocks was the "culprit" in today's session when many codes were sold heavily. Of which, STB decreased by nearly 4.8% and took away 0.77 points from the VN-Index. BID also decreased by 1.9% today and had the most negative impact on the VN-Index with 1.24 points. Other banking stocks such as VPB, HDB, MBB or TPB were all in red.

Market liquidity improved significantly today compared to last weekend. Total trading volume on HoSE reached 796 million shares, equivalent to a trading value of VND19,617 billion, up 41% compared to the previous session, negotiated transactions reached nearly VND2,000 billion. Trading value on HNX reached VND1,015 billion, down 18%. Trading value on UPCoM was VND525 billion, equivalent to the previous session.

STB and HPG are two stocks with trading value exceeding 1,000 billion VND. The top in terms of liquidity are also FPT (729 billion VND), VHM (612 billion VND), MSN (596 billion VND).

Foreign investors net sold up to 950 billion VND on three stock exchanges.

Foreign investors net sold about VND950 billion on the three exchanges. Of which, HoSE net sold VND940 billion, HNX net sold VND4 billion, UPCoM net bought VND1.2 billion. The net selling streak has been maintained since October 11.

This capital flow sold the most MSN code with 250 billion VND. However, MSN stock price still increased. Similarly, CMG continued to be net sold 208 billion VND when foreign investors prioritized profit taking when the stock increased sharply. The stock of this technology company has reached its highest level in the past 4 months. Meanwhile, STB and TCB were net sold 107 billion VND and 77 billion VND respectively, but closed down 4.8% and 1.7% respectively. Meanwhile, HPG topped the net buying list with 160 billion VND. DGC was also net bought 68 billion VND. The four stocks that were net bought the most by foreign investors all closed up in price during the trading session.

Source: https://baodautu.vn/bank-stocks-ha-gia-sau-phien-1111-hpg-va-fpt-chua-du-ganh-thi-truong-d229738.html