Stocks plunged again at the end of the session

VN-Index was trading near the reference price but suddenly fell more than 18 points just 15 minutes after ATC before closing, a series of stocks were forced to the floor price by selling pressure.

The increase in the last session of last week did not help the market to improve, as many securities companies still recommended investors to be cautious with the trend. VN-Index opened this week in the red as pressure on large-cap stocks continued to weigh on the index.

Vingroup group stocks, such as VIC, VHM or VRE, all traded lower than the reference price when opening. VIC at times decreased by nearly 4%. Low liquidity and cautious sentiment caused the market to move sideways around the 1,050 point threshold throughout the morning session.

In the afternoon session, Vingroup group improved, helping VN-Index return close to the reference. VRE bounced back from the red, at one point increasing by nearly 5%. VHM returned to the reference, while VIC narrowed the decline in the middle of the afternoon session. However, the rest of the market has not escaped the decline as selling pressure prevailed.

At the ATC session, unexpected developments occurred. Selling pressure increased sharply, causing many stocks to suddenly drop to the floor price. FRT traded at 89,000 VND until 14:30 but dropped to the floor price of 86,400 VND just a few minutes after ATC. DGW, KBC, GEX, VGC and some other stocks experienced the same situation. VN-Index, which was near the reference level, suddenly dropped sharply.

At the end of the session, the HoSE index stopped at 1,042.4 points, down 18.22 points (1.72%). The VN30-Index lost nearly 20 points (1.87%), down to 1,047.63 points. On the Hanoi Stock Exchange, the HNX-Index lost more than 3%, while the UPCOM-Index fell nearly 1%. After today's session, the VN-Index fell to its lowest price in more than 5 months, since May 5.

Red dominated the HoSE floor with nearly 400 stocks falling, compared to 111 stocks increasing in price. In VN30, 25/30 bluechip codes closed below reference price.

Securities stocks led the decline. In the VN30, SSI closed near the floor price, down 6.6%. In the mid-cap group, MBS, BSI, CTS, FTS, HCM and VND all fell over 5%.

The real estate group is similar. In the large-cap group, GVR lost 6.7%, other codes such as SCR, QCG, DIG, DXG, VCG also fell deeply. The same is true for the retail and construction groups.

Total market liquidity reached only nearly VND12,000 billion. Of which, liquidity on the HoSE floor recorded only over VND10,100 billion, down more than VND3,600 billion compared to the previous session and down to the lowest level in a month. Foreign investors net sold nearly VND88 billion today, the fifth consecutive net selling session.

Minh Son

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