Stock market down, bank stocks still up

Securities stocks were sold heavily in the trading session on July 17.

Bank stocks saw a strong rebound in mid-afternoon, helping the VN-Index rebound. Some impressive gainers included TCB up 4.4%, MBB up 4%, BID up 1.8%. CTG up 1.5%, ACB up 1.6%, STB up 1.6%.

However, in the last 60 minutes of trading, selling pressure suddenly increased. Notably, securities stocks were sold heavily. As a result, stocks in this industry were all red. Typically, SSI decreased by 0.7%, VND decreased by 34.4%, HCM decreased by 2.2%, CTS decreased by 2.3%... and this trend spread to real estate stocks and many other stocks.

At the end of the session, the VN Index closed at 1,268 points, down 12.5 points, equivalent to 0.98%. Liquidity on the HoSE floor increased dramatically when more than 1.2 billion shares were successfully traded, equivalent to a value of VND29,327 billion.

Although stocks have fluctuated unexpectedly, securities companies recommend that investors stay calm in the next trading session. Because in the session of July 17, the market recovered at times thanks to the demand to catch the bottom of stock prices.

Vietcombank Securities Company (VCBS) said that selling pressure is increasing and may not stop. The market may continue to decline in the morning session of July 18 before recovering.

Meanwhile, Dragon Capital Securities Company commented that liquidity increased sharply compared to the previous session, showing that supply increased and put pressure on the market. Therefore, investors need to slow down and observe supply and demand developments to choose the right time to trade.

Source: https://nld.com.vn/thi-truong-chung-khoan-giam-diem-co-phieu-ngan-hang-van-tang-gia-196240717160137091.htm