Investors take profits from bank stocks

BID is the stock that has the worst impact on the market, while MBB, CTG, EIB, LPB have been under great selling pressure since this afternoon.

After leading the market for three consecutive sessions, banking stocks began to fall. This is the group with the strongest decline in the market index. Five stocks, BID, CTG, MBB, VCB and OCB, were in the top 10 stocks that put the most pressure on the VN-Index.

Half of the stocks in this sector decreased in price. Of which, MBB, CTG, EIB, BID, OCB, LPB also decreased by more than 1%. The active sellers accounted for 50-68% of the matched orders of many of the above stocks.

The poor performance of the banking group caused the VN-Index to turn around after three sessions of strong growth. The index remained green in the first half of the morning when the market opened with 70% of stocks increasing in price, led by VCB and pillars of the securities and retail groups. The VN-Index at times rose to nearly 1,265 points, up nearly 10 points. However, selling pressure quickly rose, especially in the bluechip group, causing the market to shake. By the end of the morning, the index fell below the reference.

The red color remained almost all afternoon when the banking group adjusted widely. However, thanks to the positive performance of some real estate codes such as KDH (increased to the ceiling), NLG, DIG, PDR, the index's decline was narrowed.

VN-Index closed down nearly 2 points, at 1,252.7 points. The number of stocks increasing and decreasing in price was not much different, 214 and 262 respectively. Meanwhile, the VN30 basket had 18 stocks decreasing. This shows that the general index was greatly affected by the profit-taking trend of pillar stocks. In addition to the banking group, the market was also held down by the "Vin family" trio including VHM, VRE and VIC.

Liquidity scores are mixed. Total transaction value in the Ho Chi Minh City market reached more than 26,100 billion VND, an increase of more than 3,400 billion VND. Cash flow focused on three groups: real estate, financial services and banking.

Foreign investors also contributed to the profit-taking pressure when they turned to net selling nearly 390 billion VND after three sessions of prioritizing stock accumulation. Foreign investors net sold over hundreds of billions of VND in VHM, VRE, and VNM.

Vietcombank Securities (VCBS) said the market had three consecutive sessions of increase and surpassed the 1,250 point mark, so the correction was understandable. Selling pressure caused the market to fluctuate strongly, but at the end of the session, it still somewhat regained balance when it only decreased slightly below the reference. This analysis group recommended that investors consider taking advantage of the market's fluctuations to restructure their portfolios.

Siddhartha

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