VN-Index reverses sharply downward, hundreds of stocks plunge into the red.

Opening the trading session on the morning of July 13th, the market maintained its positive momentum and expectations of a recovery. However, demand quickly weakened during the continuous order matching period, and increased selling pressure caused the electronic board to gradually turn red, resulting in the VN-Index reversing direction and falling below the reference level.

After more than an hour of trading, sellers completely dominated, with the HOSE exchange recording over 230 declining stocks, nearly four times the number of rising stocks. The VN-Index lost nearly 20 points and retreated to the MA100 moving average.

Red dominated most sectors, with Banking and Securities exerting the greatest pressure as many stocks widened their declines.

Conversely, the Oil and Gas sector continued its upward trend with BSR rising 2.2%, OIL up 3.7%, PVC up 3.9%, while PVS and GAS both increased by more than 1%.

Notably, GIL continued to experience a sell-off following unfavorable news related to its lawsuit in the US. Specifically, the Federal Court for the Southern District of New York dismissed Gilimex's entire lawsuit and upheld Amazon's request for the company to reimburse attorney fees and litigation costs incurred during the investigation to prove fraudulent conduct.

Following this news, GIL shares fell 6.9% to the floor price of 9,910 VND/share, with nearly 1.9 million units remaining unsold at the floor price.

In the Real Estate sector, VIC (-1.39%), VHM (-2.86%), VRE (-3.04%), PDR (-1.78%), and NVL (-2.02%) were in the red. The Banking sector was also in the red, with CTG (-2.52%), SHB (-1.14%), VPB (-1.87%), MBB (-0.61%), and ACB (-0.22%).

Similarly, the Financial Services group saw declines of SSI (-2.82%), SHS (-3.78%), VND (-3.61%), VIX (-5.18%), VCI (-3.07%), and PVS (-8.64%). Meanwhile, gains were more prevalent in the Oil and Gas group, with BSR (+1.18%), OIL (+5.88%), PVS (+0.83%), and PVC (+3.15%).

At the close of this morning's trading session, the VN-Index fell 26.83 points to 1,801.51 points (-1.47%) compared to the previous session. Similarly, the UPCoM-Index decreased by 127.41 points (-0.72%), equivalent to 0.92 points, and the HNX-Index decreased by 294.19 points (-3.15%), equivalent to 9.57 points.

Market liquidity reached VND 9,917.56 billion, with 370,000 shares traded. Across the sector, 53 stocks increased, 255 decreased, and 38 fell to their reference price.

According to experts at AIS Securities Company, the past trading week ended on a gloomy note, with the VN-Index falling 33.74 points (-1.81%) and liquidity remaining low.

During the week, downward pressure was present in the Securities, Real Estate, and Banking sectors, while support mainly came from the Oil & Gas and Fertilizer sectors.

The market is currently in a cautious state, with weak accumulation and a lack of short-term upward momentum. Short-term correction pressure remains present in the coming trading week, with the nearest support around the 1,810 - 1,800 point range.

Investors should proactively review their portfolios, eliminating underperforming stocks. They should only hold stocks with promising profit prospects during the second-quarter earnings reporting season.

According to experts at Asean Securities Company, the VN-Index is sending cautious signals as it closed at 1,833 points, forming a medium-bodied red candle and falling below the MA10 and MA20 lines, reflecting dominant selling pressure while the momentum from the RSI and MFI indicators has both fallen to a neutral state.

Although a downtrend has not been fully established due to insufficient selling pressure, the risk of retesting nearby support levels remains if liquidity does not improve soon.

In a neutral scenario, the market is likely to fluctuate within a narrow range at the beginning of the session before establishing a clearer trend towards the end of the day.

Given this context, short-term investors should maintain an average portfolio allocation, avoid chasing rallies, and focus on trading within the support zone of 1,830-1,840 points and the resistance zone of 1,850-1,860 points.