Stocks 'evaporate' more than 35 points, VN30-Index leaves the record of 2,000

At the end of this afternoon's session, VN-Index decreased by 35.66 points (2.02%) to 1,731.19 points. HNX-Index decreased by 0.97 points (0.35%) to 276.11 points, while UPCoM-Index increased by 0.3 points (0.27%) to 112.67 points.

The VN30 group also "evaporated" 45.13 points (2.23%), down to 1,977.14 points. Thus, the record of 2,000 points could not be maintained.

The market fell sharply as selling pressure increased across the board. Red dominated with 236 stocks falling and 96 stocks rising on the HoSE floor. Total market liquidity today reached over VND45,600 billion, of which HoSE alone was over VND42,000 billion.

The market fell sharply as selling pressure increased across the board. (Illustration photo).

The volatility of large-cap stocks was the main reason for the market decline, with the focus being on the “Vin” stocks. VIC fell 4.27%, VHM fell 4.92%, VRE fell 5.53%, with these three stocks taking away about 12 points from the VN-Index.

In addition, banking stocks such as VPB, LPB, HDB,ACB , TCB, CTG, EIB also traded inactively, increasing pressure on the index. Securities groups that are often sensitive to market movements also fell sharply such as AAS, ORS, VIX, APS, HBS.

Bright spots in today's trading session are stocks such as NVL, VJC, BMP, GEE, CII, GMD.

Although the market is recording strong selling pressure across the board, especially in large-cap stocks, securities companies are still optimistic about the prospects in the coming time.

Experts predict that VN-Index is still likely to correct or consolidate in the short term to cool down momentum indicators that are in the overbought zone. However, the positive outlook in the long term still exists, so a healthy correction can open up opportunities to buy stocks at reasonable prices, in a positive scenario, VN-Index can head towards the 1,880 - 1,900 point range. Therefore, investors can continue to hold the proportion of stocks at 30 - 50% of the portfolio and take advantage of the correction to consider new purchases.

HOANG DUNG

Source: https://vtcnews.vn/chung-khoan-boc-hoi-hon-35-diem-vn30-index-roi-ky-luc-2-000-ar971713.html