Sell-off appears, stocks plunge

The stock market opened today (July 17) in green and at times seemed to have conquered the 1,290 point threshold thanks to the leadership of banking stocks.

However, right before the ATC order matching session, sell orders suddenly poured into the board, causing the VN Index to quickly reverse and decrease. Under strong selling pressure from other groups, especially the real estate sector, the market was not strong enough to keep the VN-Index from increasing at the end of the session.

At the end of today's session, VN Index decreased by 12.52 points (0.98%) to 1,268.66 points. The number of decreasing codes dominated the board with 369 codes, of which 29 codes hit the floor, 109 codes increased and 33 codes remained unchanged.

The sell-off in the last minutes of the session helped liquidity increase sharply with 1.23 billion shares transferred on the HoSE, equivalent to a transaction value of VND29,327 billion. In the whole market, the total transaction value today reached VND33,500 billion.

In the context of a strong sell-off from domestic investors, it was surprising that foreign investors turned to net buying VND358 billion on the HoSE. On the HNX and UPCoM, foreign investors net bought VND5.3 billion and VND56 billion, respectively.

Banking stocks are the group of stocks that help to slow down the decline of the index. On the other hand, the group of stocks that have the most negative impact on the index are real estate stocks and some stocks in the large-cap group.

Banking stocks were also the group of stocks that foreign investors net bought a lot in today's session, such as VCB shares with a value of 136 billion VND, TCB with a value of 102 billion VND... Notably, foreign investors net bought FPT again with a value of 161 billion VND after a series of previous "dumping" sessions.

Today's decline was somewhat unexpected, but some securities companies had warned investors beforehand, advising them to stay calm and maintain their portfolios with stocks that are considered to maintain the trend and not be affected when the market makes corrections. At the same time, the portfolio weight should only be kept at 50-60% to prevent the risk of unexpected corrections in the short term.

Currently, according to Dr. Nguyen Duy Phuong, Investment Director of DG Capital, the selling pressure is concentrated on leading stocks of industry groups in the previous period such as steel, shipping, and aviation, showing that stock holders are taking more drastic profit-taking actions. Therefore, this expert maintains the view that the expected balance zone is the threshold of 1,265-1,275 points, investors should consider paying attention to disbursement.

Source: https://laodong.vn/kinh-doanh/luc-ban-thao-xuat-hien-chung-khoan-lao-doc-1367754.ldo