The VN-Index lost nearly 20 points, with hundreds of stocks turning red.
The sharp decline in large-cap stocks, especially VIC and VHM, put pressure on the VN-Index, dragging the market down to the 1,780-point level amidst low liquidity.
Opening the trading session on the morning of July 14th, the market showed no signs of improvement, with red quickly dominating the electronic board from the start. Selling pressure intensified, especially on the two large-cap stocks VIC and VHM, both falling by more than 3%, leading the decline among blue-chip stocks and putting significant pressure on the VN-Index.
Under the influence of widespread selling pressure, the index continued to widen its decline, losing more than 25 points in just over an hour of trading, falling to the 1,775 point level. Meanwhile, liquidity remained low, indicating that investors continued to stay on the sidelines.
The real estate sector was dominated by red, with VIC (-3.88%), VHM (-2.87%), VRE (-1.35%), NVL (-0.82%), and KDH (-1.26%). Similarly, the financial services sector saw declines of SSI (-1.56%), SHS (-0.57%), VCI (-1.69%), and VND (-0.57%).
In the banking sector, SHB (-0.4%), VPB (-1.89%), CTG (-1.23%), MBB (-1.43%), and BID (-0.5%) declined. Meanwhile, the oil and gas sector bucked the trend, with BSR (+5.24%), PVS (+5.14%), PVD (+6.99%), and PLX (+3.52%).
At the close of this morning's trading session, the VN-Index fell 18.09 points to 1,782.45 points (-1%) compared to the previous session. Similarly, the UPCoM-Index decreased by 126.2 points (-0.23%), equivalent to 0.29 points. Meanwhile, the HNX-Index increased by 293.51 points (+0.55%), equivalent to 1.61 points.
Market liquidity reached VND 6,392.42 billion, with 243,000 shares traded. Across the sector, 96 stocks increased, 182 decreased, and 57 fell to their reference price.
According to experts at Kien Thiet Vietnam Securities Company, the VN-Index experienced a sharp decline with increased liquidity, breaking through the 1,810 support level with trading volume exceeding the 20-day average by nearly 38%.
The outflow of money into declining stocks completely overwhelmed that into rising stocks today, indicating that selling pressure remains very strong.
On the positive side, the VN-Index managed a rebound towards the end of the session, holding the psychological 1,800-point mark. However, this recovery was quite fragile as selling pressure spread throughout the market, and the index broke through the 1,810-point support level.
The negative trend is prevailing and is likely to continue in the coming sessions, so the risk level for new buying positions is quite high.
Investors continue to maintain a cautious stance, prioritizing risk management, limiting bottom-fishing, and considering selling off a portion of their holdings if the VN-Index rebounds to 1,820 points in the coming sessions.
According to experts at AIS Securities Company, the VN-Index recorded a sharp decline at the beginning of the week, falling back to the 1800-point mark after a series of consecutive declines. Correction pressure was present in most major sectors such as securities, banking, and basic materials.
Trading volume has exceeded the 20-day average, indicating that selling pressure remains dominant. The nearest support zone is around the 200-day moving average (MA200), equivalent to 1,760 - 1,770 points.
If this area holds, the VN-Index may experience rebounds and technical recovery. Otherwise, this short-term downtrend is unlikely to end.
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.
