VN-Index falls, market trading is sluggish.
The stock market continued to experience significant volatility, with declining liquidity and sluggish trading as a cautious sentiment prevailed ahead of the long holiday.
Opening the trading session this morning, the market was quite sluggish, with low liquidity and almost no stock sectors showing any noteworthy developments.
On the other hand, PC1 shares, following yesterday's sell-off, continued to face strong selling pressure and fell further to the floor price of 22,450 VND, with over 1.1 million units traded and over 22 million units remaining unsold at the floor price.
At the close of the morning trading session on April 24th, the VN-Index saw a decline of 7.95 points, falling to 1,862.41 points (-0.43%) compared to the previous session. Similarly, the HNX-Index decreased by 251.68 points (-0.61%), equivalent to 1.55 points, and the UPCoM-Index decreased by 127.66 points (-0.51%), equivalent to 0.65 points.
Market liquidity this morning reached VND 8,016.865 billion, with 252,000 shares traded. Across the sector, 92 stocks rose, including 5 that hit the ceiling price, 195 stocks fell, and 70 stocks declined to the reference price.
The banking sector showed strong divergence, with TCB (+1.8%), SHB (-1.01%), BID (-1.44%), VCB (-1.91%), and HDB (+0.19%). Similarly, the real estate sector saw divergence with VIC (+1.59%), VRE (+0.69%), VHM (-3.42%), NVL (-2.86%), and IDC (-2.17%).
The financial services sector was dominated by red, with VIX (-1.78%), SSI (-0.89%), SHS (-0.59%), HCM (-1.69%), and VND (-0.31%). Similarly, the chemical sector saw declines of DCM (-2.65%), DPM (-2.04%), DGC (-1.31%), VTZ (-0.5%), and LAS (-0.6%).
The oil and gas sector saw strong gains, with PLX (+2.54%), BSR (+0.6%), PVD (+0.16%), PVS (+2.14%), and PVC (+1.27%).
Market analysts at Kien Thiet Vietnam Securities Company believe that, given the VN-Index's reliance on gains from large-cap stocks, there is still reason to maintain a positive outlook as capital is showing signs of rapid rotation between sectors instead of withdrawing from the market.
Nevertheless, investors should only hold their portfolios at the present time and increase their purchases when the general index corrects to a safe base level.
Preferred stocks must have strong fundamentals and positive business growth potential in the coming quarters.
According to experts at Vietcombank Securities Company, the tug-of-war and fluctuations in yesterday's session are typical after a strong upward movement in the index. The market is currently in a phase of re-evaluating supply and demand after the recent period of rapid growth.
At the same time, cash flow is clearly diversified and is showing signs of seeking opportunities in certain stocks or industry groups with unique stories.
Given the current market conditions, investors are advised to prioritize short-term investment strategies during this period.
Accordingly, focus on identifying and selecting stocks that are consolidating their long-term support levels with positive buying signals, and consider making partial investments during market fluctuations. Some notable sectors include public investment, oil and gas, and shipping. Sell stocks that are showing signs of weakening price momentum.
