Unfavorable developments in foreign markets, along with the pressure of the derivatives expiration session, caused a cautious trading trend to occur early in this morning's session (September 17).
Investors still maintain a cautious state, exploring early, especially in the context that today is also the expiration date of the VN30 futures contract, giving investors more reason to be cautious.
The VN-Index accordingly soon faced adjustment pressure after a fluctuating period. Red is present in most industry groups, typically securities, banking, raw materials; especially in the VN30 group, although most of the stocks have not lost points too deeply.
The pressure continued to increase in the second half of the session, although not too big, there were times when it focused on the bluechip group, causing the VN-Index to have an important breakout of 1,200 points.
However, even as soon as it fell to this level, the demand for price support quickly helped the index bounce, but with high caution in the market, it was only enough to help the index recover slightly at the end of the session.
At the end of the morning session on April 17, the VN-Index ended at 1,202.22, equivalent to a decrease of 8.08 points. There were also similar results, HNX-Index decreased by 1.27 points to 208.14, UPCoM-Index decreased by 0.21 points to 90. 18. There are up to 18 majors with reduced scores out of a total of 23 majors.
Market liquidity in the morning session was not too outstanding, trading value was about VND 8,783 billion. Foreign investors temporarily net sold nearly 204 billion VND, mainly due to net selling of more than 105 billion VND at HPG and 100 billion VND at VNM. On the other hand, FPT was unexpectedly net bought by foreign investors for nearly 113 billion VND.
The red covers the bank group, VCB in turn decreased by 1.18%, BID decreased by 2.5%, CTG decreased by 1.21%... In real estate groups, although the "big man" VIC increased by 1.47%, the rest was mostly in red, with commercial real estate stocks such as VHM fell 1.59%, KDH decreased by 2.43%, NLG decreased by 3.52%... or real estate, reduced by 4.43%, 4%, etc.
Experts of CSI Securities Company have made the view that the recovery trend has been established in the previous three gain sessions that have not been broken. CSI experts expect the adjustment rhythm will bring VN-Index to the support area around 1,180 points and then return to the recovery trend to towards a strong resistance threshold of 1,270-1,300 points. On that basis, CSI recommends that investors consider buying when VN-Index adjusts in the coming sessions, towards supporting landmarks around 1,180 points.
Vietcombank Securities Company (VCBS) commented that the biggest pressure also comes from stocks with information that is not positive or has increased strongly before and entered the adjustment period when investors take short-term profits and implement portfolio restructuring. On the general market side, there is currently no information that will have a widespread impact.
Accordingly, VCBS recommends that investors stay calm, take advantage of fluctuations to increase the proportion of stocks with more positive developments than the general level, or select stocks with growth expectations and their own story to open positions at reasonable discount prices.
