Opening today's trading session (August 13), the stock market repeatedly tested the 1,800 point mark, but all were unsuccessful. Entering the afternoon session, investors witnessed the unexpected plunge of VN-Index as selling pressure increased.
Closing the session on August 13, VN-Index decreased by 27.55 points (1.54%), to 1,765.63 points. HoSE's electronic board was submerged in red with 227 decliners, while the number of gainers and unchanged stocks was 85 and 60 respectively.
Supply pressure, although pushing the index down, helped market liquidity to improve. According to statistics, there were over 743 million shares matched in today's session, equivalent to a trading value of 18,357 billion VND.
After the previous net buying session, foreign investors today switched to net selling on the HoSE exchange with a value of about 600 billion VND. Today, 4 codes were net sold by foreign investors for more than 100 billion VND, including TCB, VHM, VIC and HPG.
From the majority of industry groups increasing points, through the difficult diễn biến in the afternoon session, the market closed the session with only 2 increasing industries left, essential consumption and raw materials, but the increase was very slight. Meanwhile, a series of industries went backwards, most of which were real estate down 2.8%, information technology down 2.16%, utilities down 1.35%, and media services down 1.17%.
VIC shares, after playing a role in supporting the market yesterday, today were the factor that caused VN-Index to lose nearly 13 points. Vingroup shares today fell 3.5% to 207,900 VND. The highest liquidity in the market reached more than 1,172 billion VND.
Buyers and sellers actively struggled throughout the session, with almost equivalent proportions. In the banking and securities groups, two sectors that greatly supported the market in the morning session, also turned down.
Market developments show that the 1,800-1,810 point zone is still a noteworthy challenge, while many stocks have increased quite quickly from the bottom and are starting to approach resistance zones in the short term.
In the short term, experts predict that the index will still maintain the recovery trend from the end of July but still maintain a cautious view on the diễn biến of the VN-Index in the coming time when market liquidity has not improved and the market structure is still leaning towards a downward trend in the medium term despite short-term recovery waves as at present.
Investors are recommended to limit new purchases when the upward momentum is differentiating and new investment opportunities are narrowing. At the same time, the appropriate strategy is to hold and partially take profits in price resistance areas.
