Oil and gas, and chemical stocks continue to be the focus.
During the morning trading session on March 20th, oil and gas and chemical stocks continued to be the focus of selling pressure.
Entering the morning trading session on March 20th, the situation was somewhat similar to yesterday, with red quickly dominating the market. After 1 hour of trading, the VN-Index fell quite sharply, losing more than 20 points due to large-cap stocks experiencing significant declines.
At the end of the morning trading session, the VN-Index fell 23.13 points to 1,676 points (-1.36%) compared to the previous session. Similarly, the HNX-Index also decreased to 244.04 points (-0.69%), equivalent to a drop of 1.69 points. The bright spot was the UPCoM-Index, which rose slightly to 124.09 points (-0.11%), equivalent to a drop of 0.14 points.
In the oil and gas sector, stocks recorded declines, with PVD (-4.35%), BSR (-1.71%), OIL (-3.45%), PVS (-3.26%), and PVB (-0.33%). The two leading stocks in the sector, GAS (-3.86%) and PLX (-4.67%), also experienced sharp drops.
Similarly, in the chemical sector, many stocks such as DCM (-2.55%), DPM (-3.09%), GVR (-2.47%), ABS (-1.99%), and BFC (-6.22%) fell. Notably, DGC - Duc Giang Chemical Group Joint Stock Company - saw strong absorption of sell orders at the floor price, with the highest trading volume on the exchange, far exceeding the rest with nearly 27 million units, yet the stock still fell by 6.21%, indicating a trend of many investors deciding to "buy the dip".
Alongside this, the real estate sector also saw sharp declines, with VPI (-1.69%), VHM (-2.25%), KBC (-4.33%), VIC (-1.93%), and DXG (-1.06%). Similarly, the financial services sector experienced declines, with SSI (-0.37%), VCI (-0.43%), VIX (-0.31%), TCX (-3.24%), and VCK (-3.62%).
In the IT sector, FPT (-3.91%), ICT (-0.56%), CMG (-1.69%), ONE (-1.77%), and SAM (-0.46%) all declined.
According to statistics, within the VN30 group, 29 stocks declined, and 1 stock fell back to its reference price. Total market liquidity reached over 11,532 billion VND with nearly 371,000 shares traded.
From a technical perspective, experts at Tien Phong Securities Company believe that,The VN-Index declined amid cautious sentiment at the derivatives expiration session and negative influences from international markets, but closed near its opening level, indicating that selling pressure was not too extreme.
The index remains below the MA10, maintaining a short-term downtrend; current rallies are mainly testing the target zone of 1,750-1,780 points and may be accompanied by volatility.
Investors should prioritize defensive strategies, taking advantage of rallies to restructure their portfolios, reduce the proportion of weak stocks, limit leverage, and maintain discipline in a volatile market.
In offering recommendations, experts from SHS Securities Company stated that...Geopolitical tensions in the Middle East continue, and oil prices remain high. Global stock markets fell sharply in reaction to news that the Fed kept interest rates unchanged and inflationary pressures began to mount.
Domestically, as the uncertainties we have mentioned continue, they may begin to directly impact businesses and the economy, putting significant pressure on the stock market.
In the current environment, investors should remain cautious until the VN-Index breaks out of its downtrend and market liquidity improves. Investment positions should only be maintained at a moderate level.
