Stocks return to red

The HoSE index opened in green, up nearly 5 points in the first few minutes of trading. However, the VN-Index quickly fell as the cash flow was not too strong and the market had no leading industry group. After 10:30, the index fell below the reference, and red began to appear more on the board.

The market continued to decline in the afternoon session, at times breaking the 1,280 point mark. Towards the end of the session, the red gradually receded. VN-Index closed above 1,284 points, down more than 6 points compared to yesterday.

Thus, the stock market has tested the 1,300-point mark for the fifth consecutive session. However, the scenario of breaking through the important resistance level still failed, largely due to heavy profit-taking pressure.

The number of stocks falling on the HoSE was twice as high as the number of stocks rising. VCB, VHM, GVR were the main stocks that weighed down the index, while FPT led the positive contributions.

Among the cash flow-attracting groups, the real estate board has the most red. NVL decreased by 3.4% today. The remaining codes with liquidity of hundreds of billions mainly decreased by around 1-2% compared to the reference such as VHM, DIG, VRE, TCH.

On the other hand, the securities group still performed quite favorably. VCI accumulated 4.9% compared to the reference, while SSI, HCM and FTS codes all increased by 1% or more.

Today's liquidity moved in the opposite direction to the index, showing that selling pressure to take profits is still real when the VN-Index is at a high price level, many stocks increased 2-3 times compared to the bottom. The total transaction value on the Ho Chi Minh City market reached more than 25,400 billion VND, an increase of about 3,800 billion.

The above trend is not only seen in the domestic group. Foreign investors continued to net sell, about 1,845 billion VND, about 740 billion higher than yesterday. This is the fourth consecutive session they focused on selling.

According to Vietcombank Securities (VCBS), the VN-Index recorded a decline, but investors should not be too worried because the market is still operating stably. The downward pressure in today's session was also improved thanks to the demand appearing at the end of the session. VCBS's analysis team recommends that investors should stay calm.