PNJ shares continue to plummet.
PNJ is experiencing a series of consecutive declining sessions with tens of millions of shares remaining unsold.
Opening the trading session on the morning of October 1st, the market was quite mixed, with a relatively balanced number of gainers and losers, while large-cap stocks belonging to Vingroup continued to exert pressure.
After more than an hour of trading, the VN-Index mainly fluctuated around the 1,760 point mark, equivalent to the EMA200 line. This development shows that buying pressure is still present at the support level, but not strong enough to create momentum for a clear recovery of the index.
In particular, the duo of VIC and VHM continued to exert significant pressure on the market, with VIC alone deducting nearly 8 points from the VN-Index. Conversely, the group of key banking and securities stocks traded relatively balanced, with most stocks rising and falling within a narrow range.
On the positive side, oil and gas stocks emerged as a bright spot after the previous sharp decline, recovering across the board. PLX briefly surged close to its ceiling price and is currently up nearly 4%, while BSR, PVD, and PVT also maintained their gains.
Among the notable stocks, PNJ continues to face strong selling pressure. The stock has fallen to its floor price of 24,750 VND per share, with over 26.6 million units offered for sale at the floor price.
In the banking sector, HDB (+1.45%), TPB (+1.04%), STB (-1.35%), MBB (+0.51%), VCB (-0.17%), and SHB (-0.87%) saw gains. In the real estate sector, VIC (-2.37%), VHM (-0.88%), VPI (-0.67%), VRE (-1.23%), MLG (-0.23%), and KBC (-1.19%) saw gains.
Financial services group: SSI (+0.5%), VIX (-0.41%), SHS (+1.54%), HCM (+0.21%), MBS (+1.2%) and VND (+0.36%). Oil and gas group: PLX (+3.66%), PVS (+1.49%), BSR (+0.16%), PVD (+0.55%) and OIL (+0.75%).
At the close of trading, the VN-Index fell 10.45 points to 1,758.17 points (-0.59%) compared to the previous session. Similarly, the HNX-Index decreased by 270.93 points (-0.26%), equivalent to 0.71 points. Meanwhile, the UPCoM-Index increased by 126.53 points (+0.17%), equivalent to 0.22 points.
Market liquidity reached VND 6,533.09 billion, with 256 million shares traded. Across the sector, 123 stocks rose, 160 fell, and 63 dropped to their reference price.
According to experts at AIS Securities Company, at the end of yesterday's trading session, the VN-Index officially lost the 50-day moving average support level, indicating a clear increase in correction pressure. Foreign investors continued their strong net selling streak, weighing heavily on overall trading sentiment.
The index may retreat to test the next support zones around 1,720 points, and further down to the 1,700-point level.
Investors should proactively tighten risk management, reduce their holdings in sectors under strong selling pressure, and only consider investing when the index confirms a point of equilibrium.
According to experts at Asean Securities Company, the VN-Index is showing clear signs of weakness, closing at 1,769 points, lower than the MA10 and MA20 moving averages, with selling pressure dominating and causing the index to end the session at its lowest point of the day.
With momentum indicators like RSI at 42 and MFI at 33 both showing a weakening money flow, the short-term trend is leaning towards a correction to retest nearby support levels.
In a market lacking strong demand, short-term investors should prioritize risk management by reducing their holdings during technical rallies, absolutely avoiding leverage, and only considering investing when there are signs of a bottom formation accompanied by improved liquidity.
