After a brief recovery yesterday afternoon, the market failed to maintain momentum this morning. Blue-chip stocks that increased early in the session were quickly sold off. The downward trend also spread significantly. However, there were still many stocks that increased, including energy and construction materials stocks...
After a brief recovery yesterday afternoon, the market failed to maintain momentum this morning. Blue-chip stocks that had increased early in the session were quickly sold off. The downward trend also spread significantly. However, many stocks still increased, with energy and construction materials stocks being strong.
Oil and gas and electricity stocks were outstanding. GAS increased by 2.26%, becoming the strongest support for VN-Index, helping the index gain more than 1.1 points. The oil and gas group also had differentiation, such as PVS, PVD, PVC decreased. BSR, POW, PSH, PLX remained green.
The electricity group has IDC increasing by 2.23%, POW increasing by 1.21%, VSH increasing by 1.09%, but also NT2 decreasing by 0.17%, PPC decreasing by 0.35%, GEG decreasing by 0.91%...
Strong material stocks in the cement group, ACC increased by 1.17%, BTS increased by 1.28%, CLH increased by 1.03%, TXM increased by 3.13%... Steel stocks were differentiated, HPG increased slightly by 0.23% but HSG increased by 1.29%, while NKG decreased by 1.57%...
The divergence that appeared even among the strongest stock groups this morning shows that this is a common situation. Due to the impact of business results prospects, the cash flow is trading in opposite directions.
The market was generally stable in the first half of the morning session, with the VN-Index maintaining a slight increase. However, after 10:30, selling pressure showed signs of increasing and the breadth began to weaken. At around 10:40, the VN-Index began to fall below the reference and stocks fell overwhelmingly. At the end of the session, the VN-Index had only 178 gainers/205 losers, while at 10:30, there were still 214 gainers/155 losers.
VN30-Index decreased by 0.81% with 12 stocks increasing/18 stocks decreasing, continuing to confirm the great pressure from the blue-chip group. VN-Index decreased by 4.75 points, equivalent to -0.43%, then the 10 stocks with the worst impact, taking away about 6.3 points from this index, were all stocks in the VN30 basket. Leading the decline were VHM down 3.05%, MSN down 2.57%, CTG down 1.97%, VIC down 1.05%, VJC down 3.27%.
Banking stocks also had a rather disappointing morning session, as they were unable to maintain the upward momentum at the end of yesterday's session. Most of the stocks in this group still increased at the beginning of the session, but quickly weakened. This type of development caused quite a lot of damage to those who bought in. For example, although ACB has just dropped below the reference price by 1.15%, it has evaporated about 1.9% compared to the peak at the beginning of the session. CTG even decreased by 2.45% compared to the peak, VPB decreased by about 1.78%, MBB decreased by 2.25%, STB decreased by 2.2%, TPB decreased by 3.15%...
The phenomenon of increasing before decreasing is quite similar to yesterday morning, although the amplitude is lighter. Yesterday's bank stocks were pulled back in the afternoon and increased sharply in the last few dozen minutes. Whether this scenario will repeat this afternoon or not is still unclear, but the price increase and then selling still send out risky signals for transactions of chasing high prices.
Looking at the entire HoSE, there are 112 stocks that created a bull-trap of 2% or more, and this number accounts for 58% of the total matched value of the entire floor. This is still a signal showing profit-taking actions.
Although the breadth gradually narrowed towards the end of the session, combined with a wide price drop, reflecting the above pressure, cash flow is still supporting many stocks. Of the 178 stocks still above the reference price, 87 stocks achieved an increase of over 1%. Many stocks showed good liquidity and increased prices, such as SBT hitting the ceiling with 126.1 billion VND in liquidity; AAA increased by 5.11% with 54.2 billion; PDR increased by 3.61% with 145.1 billion; NVL increased by 3.52% with 212.9 billion; DGC increased by 3.32% with 183.5 billion; HDG increased by 3.22% with 81.2 billion...
Foreign investors also showed strange actions when they continued to increase their selling. The total selling value on HoSE in the morning session reached 755.8 billion VND, up 22% compared to yesterday morning. Buying reached 667.6 billion VND, down only 5%, leading to a net selling of 88.2 billion. HPG was still the most net bought +102.9 billion, the rest were only BID +27.4 billion and HDB +18.2 billion which were significant. On the net selling side, there were VHM -57.2 billion, DGC -27.4 billion, VNM -24.1 billion, CTG -22.1 billion, KBC -21.6 billion, VND -21.4 billion, DPM -20.6 billion.
Foreign investors started selling more than buying yesterday and this morning that trend continued. Meanwhile, yesterday the group of individual investors started net buying. This is a strange change from the recent upward trend.
Vneconomy
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