After setting a new peak above the 1,900 point mark, the stock market began to bear significant profit-taking pressure as selling pressure increased sharply in large-cap stocks. This was clearly shown in today's trading session (January 15) with selling pressure continuing to appear in leading stocks and with state capital factors.
VN-Index opened to maintain a downward trend. The banking sector also had adjustment signals when major codes VCB, BID, CTG all reversed to adjust due to increased profit-taking pressure. Even, at one point, VN-Index lost nearly 50 points and broke the 1,850 point mark. Thanks to the final minutes of the trading session, local buying power in some oil and gas, banking and chemical stocks slowed down the index's decline.
At the close of the trading session on January 15, VN-Index closed the session down 29.64 points to the threshold of 1,865 points, extending the downward streak for two consecutive sessions. Liquidity showed signs of weakening due to investor caution. HOSE recorded more than 1.23 billion shares traded, with a trading value of more than 40,700 billion VND.
The market has 12 codes reaching trillion-VND liquidity. VHM leads the liquidity ranking with nearly 2,300 billion VND. VIX, HPG, VCB and SSI ranked behind each other with matched order values of about 1,400-1,800 billion VND.
Foreign investors continued to sell off for three consecutive sessions. This group sold for more than 4,500 billion VND, while buying for about 3,700 billion VND.
The bank stock group recorded the strongest differentiation state, causing many investors who had just disbursed into bank stocks in the previous session to quickly fall into a temporary loss-making state. However, from the perspective of analysis groups of securities companies, the current decline is mainly technical adjustment after the market increased too quickly.
Dr. Nguyen Duy Phuong, Director of DG Capital's strategic investment block, said that VN-Index has continuously reached historical peaks, far exceeding initial expectations of the 1,800-point mark and even at times exceeding the 1,900-point mark in a short time, so a correction is necessary.
It is forecasted that in the next trading sessions, VN-Index will continue to face challenges in the resistance zone but has not eliminated the upward momentum in the short term.
However, whether there is short-term correction pressure or not, it does not change the previous forecast about the potential towards the 2,000-point zone. Accordingly, a healthy correction phase may open up opportunities to increase position if the support zone is maintained. VN-Index is entering a continuing upward trend with strong momentum, after completing the re-accumulation phase and successfully breaking through the 1,800-point resistance zone. Therefore, the 1,800-point mark is likely to play the role of the nearest strong support zone in the market's correction phases," Dr. Phuong stated his opinion.
