Red dominates, VN-Index lacks momentum for a breakout.
The VN-Index retreated to near the 1,790 point mark amidst low liquidity, with only a few stocks like HCM and VNM showing positive signs.
Opening the trading session on the morning of July 17th, selling pressure quickly spread, causing most stocks to turn red. Although the decline was not too deep, the supply was still enough to push the VN-Index back close to the 1,790 point mark before recovering slightly after more than an hour of trading.
On the electronic board, red dominated, while liquidity remained low, reflecting the cautious sentiment of investors and a lack of momentum for a breakout in trading activity.
Amidst the gloomy market picture, only a few stocks managed to stand out. HCM rose by over 3%, while VNM edged up by over 2%, both recording positive trading volumes.
Conversely, small-cap stocks continued to face strong selling pressure. ACC and BCE both fell to their lower limit, reaching 7,470 VND and 5,540 VND per share respectively. Notably, ACC only traded nearly 6,000 units, while the sell order at the floor price amounted to over 7.4 million shares, indicating that supply remained dominant.
The banking sector saw mixed results, with LPB (+2.31%), HDB (-0.92%), HDB (-0.92%), VPB (+1.36%), and TCB (-0.47%). Similarly, the financial services sector saw mixed results, with HCM (+3.21%), SSI (-1.8%), VCI (-0.69%), VIX (-1.07%), CTS (+0.55%), and PSI (+8.3%).
The real estate sector was dominated by red, with VIC (-0.13%), VPI (-1.13%), VHM (-0.28%), VRE (-1.2%), and KDH (-2.21%). Similarly, the oil and gas sector saw declines of BSR (-3.65%), PVD (-3.77%), PVS (-3.35%), PLX (-1.95%), and PVC (-1.5%).
At the close of this morning's trading session, the VN-Index fell 7.56 points to 1,796.68 points (-0.42%) compared to the previous session. Similarly, the HNX-Index decreased by 286.92 points (-0.49%), equivalent to 1.4 points. Meanwhile, the UPCoM-Index increased by 127.83 points (+0.96%), equivalent to 1.21 points.
Market liquidity reached VND 4,920.81 billion, with 186,000 shares traded. Across the sector, 92 stocks increased, 197 decreased, and 56 fell to their reference price.
According to experts at Kirin Securities Joint Stock Company, the market reversal today was largely contributed by VIC, VHM, and many large-cap bank stocks (HDB, ACB, STB). Liquidity also surged significantly, with trading volume exceeding the 20-day average by more than 36.2%.
In addition, the flow of money allocated to rising stocks has reversed, being 3.3 times greater than that allocated to falling stocks. These are all very positive signs indicating that the previous decline has slowed down and there is a high probability of a rebound in the coming sessions.
However, investors remain cautious, not rushing back into net buying positions, and need to patiently wait for the VN-Index to surpass the 1,820 point mark with a surge in liquidity to confirm the return of optimistic signals.
According to experts at AIS Securities Company, the VN-Index rebounded strongly, reclaiming the 1,800-point mark after a period of volatility. The main support came from the securities, banking, and real estate sectors.
Market liquidity recorded an increase exceeding the 20-day average, reinforcing the technical recovery momentum on a solid support base.
If the current positive cash flow continues, the next target for the VN-Index will be to reclaim the 1,850-point level.
