Profit-taking pressure causes stock market to plummet

After the VN-Index closed at an all-time high yesterday, this morning's trading session on the Ho Chi Minh City Stock Exchange saw strong selling pressure from investors right from the start, causing the index representing the floor to show red. At the end of the morning trading session, the VN-Index stopped at 1,646.06 points, down 41.94 points.

In the afternoon session, selling pressure increased, causing the VN-Index to drop nearly 60 points at one point, close to the 1,630-point mark. After that, bottom-fishing demand increased, helping the market slow down.

Closing the session, VN-Index stopped at 1,645.47 points, down 42.53 points (-2.52%); VN30-Index decreased by 60.89 points (-3.25%), to 1,814.02 points.

In recent sessions, banking and securities stocks have increased sharply. Therefore, profit-taking pressure is strong in these two groups. For the banking group, most of them have decreased in price, in which VPB and EIB have decreased to the floor.

If yesterday's session, VPB contributed the most to the market, today, on the contrary, took the most points with nearly 4.8 points; followed by TCB (more than 4 points). In addition, the banking groupsACB , MBB, CTG were among the 10 codes taking the most points in today's session.

In the securities group, most codes are currently red, in which BSI and VND have decreased by the full amplitude. However, this group has a not too large capitalization, so the impact on the market is not clear.

Strong selling pressure caused most industry groups to lose points; in which, insurance, securities, raw materials, and energy were the industries that decreased by more than 3%.

Commercial services, hardware and equipment are two industries currently in the green.

Market breadth was heavily tilted towards the downside with 275 stocks showing red and only 76 stocks showing green. In the VN30 group, the number of stocks decreasing in price was 6 times higher than the number increasing in price (26 stocks and 4 stocks).

Liquidity was high with more than VND62,000 billion successfully transferred. Foreign investors continued to be net sellers. This group bought more than VND4,679 billion and sold more than VND6,000 billion.

On the Hanoi Stock Exchange, at the close of the session, the HNX-Index fell to 272.48 points after falling 11.91 points (-4.19%); the HNX30-Index fell 30.41 points (-4.88%), to 592.47 points. The entire exchange had more than 33,000 billion VND changed hands.

Source: https://hanoimoi.vn/ap-luc-chot-loi-khien-thi-truong-chung-khoan-lao-doc-713630.html