Stock market October 3: Will selling pressure continue?

(NLDO) - The trading session on October 2 witnessed strong stock selling pressure, causing investors to worry that this trend could continue in the upcoming session.

At the end of the session on October 2, the VN-Index closed at 1,652 points, down 12 points, equivalent to 0.74%.

The Vietnamese stock market opened the session on October 2 in green, with the VN-Index quickly expanding its increase range and at one point approaching the 1,680-point mark. The main driving force came from large-cap stocks, notably VIC and some banking stocks such as MBB, LPB and VPB. However, increased selling pressure from the second half of the morning session narrowed the increase range of leading stocks, causing the VN-Index to hover around the 1,670-point mark until the end of the morning session.

In the afternoon session, VN-Index continued to fluctuate within a narrow range, before shaking strongly and falling to the 1,650 point area. Selling pressure on the HOSE floor dominated with 243 red codes compared to 84 green codes. Large-cap stocks were also affected, as the red color spread and only a few codes such as VIC, MBB and LPB increased slightly in price.

At the end of the session, VN-Index closed at 1,652 points, down 12 points, equivalent to 0.74%.

According to VCBS Securities Company, liquidity is gradually decreasing, showing a period of testing stock supply and demand. This company recommends that investors should select stocks with positive third-quarter business results expectations, in an accumulation trend or with convincing supply and demand testing signals, to disburse part of their capital during fluctuations. Some notable industry groups include banking and retail.

Dragon Viet Securities Company (VDSC) commented that the market failed after many attempts to increase points. The supply of stocks increased pressure while the supporting cash flow was still cautious. For the market to regain balance and return to an upward trend, the cash flow needs to be stronger to absorb the supply of stocks.

With this information, many investors are worried that the selling pressure will continue to be strong in the stock market session on October 3. Buying and selling stocks needs to be done with extreme caution to minimize risks.

Source: https://nld.com.vn/chung-khoan-ngay-3-10-ap-luc-ban-co-phieu-con-tiep-dien-196251002180720483.htm