In the market this morning (October 20), selling pressure still dominated, especially the group of bluechip stocks that continued to increase pressure with a focus on Vingroup stocks, pushing the VN-Index below the 1,700 point mark right at the opening.
Although the market has since had some rebound and approached the reference level, the huge selling pressure from the VIC-VHM duo and pillar groups such as banking and steel has caused the general index to quickly turn around. As of 2:30 p.m., when entering the ATC session, the VN-Index lost more than 90 points. Red and light blue flooded the market with more than 322 discount codes, including 71 exchange codes.
In the VN30 table, there are 29 stocks with 7 stocks, only 1 stock is VJC. Notably, stocks such as SSI, VPB, VRE, MSN were on the floor with large sales volumes. The three Vingroup stocks fell the most and VIC-VHM alone took away more than 13 points from the general index.
Notably, Novaland's NVL shares had a shocking drop on the floor with prices approaching VND15,450/share after the Inspection Conclusion was announced on October 17. The Government Inspectorate has transferred the files of cases with signs of violations at Novaland and related companies to the Ministry of Public Security for consideration and handling. There are nearly 70 million NVL shares traded with a floor balance of more than 20 million shares.
This sell-off was beyond the forecast of analysts before entering the new trading week. Many experts warn that we should not take bottom at this time when investors' sell-off sentiment is still large and the story of being "called to margin" will soon appear in the next trading session.
