Stocks suddenly fell to the floor, VN-Index dropped nearly 40 points

The stock market traded cautiously in the morning session but the index only decreased slightly. However, in the afternoon, a series of stocks were suddenly sold off, causing the VN-Index to close the session down 39.85 points, equivalent to a decrease of 3.34%, to 1,153.20 points. Similarly, the HNX-Index also decreased by 11.64 points, equivalent to 4.79%, to 231.5 points; UPCoM-Index decreased by 2.06 points, equivalent to 2.27%, to 472.6 points.

A series of stocks plummeted unexpectedly in the session of September 25.

The number of stocks being sold off and hitting the floor price increased, which was beyond the expectations of many securities companies and investors. On the HOSE floor alone, 116 stocks fell to the limit out of a total of 495 stocks that decreased in price. This session reduced the capitalization of the HOSE floor by nearly VND160,000 billion. In total, after 3 consecutive sessions of decline, the capitalization of the HOSE floor lost more than VND288,500 billion, equivalent to more than USD11.7 billion.

Similarly, the HNX also had 48 stocks hitting the floor price out of 165 stocks falling in price. Among the stocks hitting the floor price, there were quite a lot of stocks in the securities industry such as CTS, AGR, APG, BSI, FTS, HCM, SSI, VCS, VDS, MBS, ORS...

Red also spread across blue-chip stocks. In the basket of 30 stocks in the VN30 on the HOSE, only SSB, VJC and VNM reversed the trend by maintaining green until the end of the session. These three were not strong enough to act as pillars, especially when banking and retail stocks all plummeted.

After 3 consecutive sessions of sharp decline, it seems that investors' sentiment has become more pessimistic and massive selling pressure has occurred just a short time before the market closes. Especially, after the VN-Index fell below the threshold of 1,180 points, many people rushed to sell off.

In contrast to the sharp decline that stimulated cash flow to buy stocks at the bottom of last weekend, this session's liquidity was only at an average level like recent trading sessions with more than 1 billion USD. In total, more than 1.3 billion shares and fund certificates were traded with a total value of more than 27,447 billion VND.

Source: https://thanhnien.vn/co-phieu-bat-ngo-nam-san-la-liet-vn-index-giam-gan-40-diem-185230925151248231.htm