The stock market experienced the trading session on March 18 with strong fluctuations, bringing investors many opposite emotions, from sudden excitement to anxiety before breathing a sigh of relief at the end of the trading session.
In the morning trading session, following yesterday's recovery session on March 17, the market opened in green and had a fairly strong increase in the first half of the session, VN-Index climbed above the threshold of 1,740 points.
However, unexpected selling pressure increased in some bluechip codes at the end of the trading session, causing VN-Index at one point to suddenly decrease sharply from an increase of 20 points to a loss of 20 points to 1,690 points. However, in the closing order matching session (ATC), price support demand entered the game, pulling VN-Index above the reference level and closing recording the 2nd consecutive increase session.
At the end of the March 18 session, VN-Index increased by 3.54 points (+0.21%) to 1,713.83 points with 134 gainers and 189 losers. Total trading volume reached 887.5 million units, worth 25,488.5 billion VND.
Foreign investors' transactions are a minus point when net selling is about 2,510 billion VND. On the HOSE exchange, in the buying direction, MSN shares were bought the strongest by foreign investors on HOSE with a value of more than 150 billion VND. Conversely, VIC continued to be the strongest selling stock by foreign investors with 1,600,000 billion VND. Following, STB and VCB shares were also "discharged" 235 billion VND and 217 billion VND.
Oil and gas and fertilizer groups, after being profit-taken, turned around and increased sharply again today, in which GAS and PLX closed both up 6.13% to 91,700 VND and 48,450 VND, at times both of these codes also had a purple color. Meanwhile, PVD, PVT, PET maintained the ceiling price of 37,100 VND, 24,800 VND and 42,800 VND respectively.
The banking group has differentiation, except for STB which decreased sharply by 6.36% to 63,300 VND, NAB decreased by 2.3% to 12,750 VND; BID increased by 2.1% to 41,300 VND, CTG increased by 1.74% to 35,000 VND, the rest only increased and decreased in a narrow range of less than 1%.
Selling pressure at DGC shares of Duc Giang Chemicals continued to be fierce after information that the Chairman and many business leaders were arrested, showing that anxiety still overwhelmed investors. Right from the beginning of the March 18 session, DGC shares continued to be at the floor price, "empty buyers". DGC's market price then fell to 64,000 VND/share, the lowest level in about 2 months. At the end of the session, the amount of surplus shares for sale at the floor price reached more than 33 million units, with only more than 500,000 shares matched.
SHS Research has just updated its assessment of DGC shares of Duc Giang Chemical Group after information that functional agencies have initiated a case related to this enterprise.
According to SHS, this is negative information, which may directly affect the process of extending the mining license of field 25 by the end of 2026. In case it is not extended, the enterprise will have to switch to buying and importing almost the entire apatite ore, instead of being more than 80% self-sufficient in input materials as before, thereby creating significant pressure on cost and profit margin.
In the long term, the risk of losing the advantage of raw material autonomy may cause DGC to be discounted and valued more heavily, while reducing the clarity in the growth prospects. This development may also set a precedent for the trend of tightening management throughout the chemical and mining industries.
In addition, prosecution information also puts significant pressure on stock price movements, and at the same time increases the risk of arising legal and environmental costs or arrears in the near future.
Regarding the general situation of the stock market, experts believe that the market is recovering better under the fairly positive influence of large-cap stocks, VN30. However, market liquidity is still in a downward trend, partly due to short-term speculative transactions decreasing when the market has fewer outstanding profit opportunities, while risks are still increasing in many code groups.
Although at the present time, after a period of sharp decline, many industry groups have returned to a relatively reasonable price range. However, in the context of current geopolitical tensions, experts maintain a neutral stance until the VN-Index surpasses the downward trend and market liquidity improves again.
