In yesterday's trading session (May 19), oil and gas and energy stocks were massively profit-taken after a series of gains, causing VN-Index to turn down 15 points. Investor sentiment seems to be starting to worry as pillar stocks no longer play a role in supporting the index.
This has caused the stock market to enter this morning's trading session (May 20) with overwhelming cautious sentiment. Along with that are not-so-positive information from outside when Wall Street had its 3rd consecutive declining session due to investors' concerns that rising inflation has pushed US bond yields to anchor high, the USD to increase sharply and oil prices to still anchor high above 110 USD/barrel, which has affected the trading trend of the Vietnamese stock market.
Unexpected selling pressure rushed into the real estate group, then spread to other industry groups at the end of the morning session, causing many stock groups to sink into widespread red and VN-Index to slide, piercing the MA20 support level, closing at the lowest level of the session.
Closing the morning session on May 20, VN-Index decreased by 31.06 points (-1.62%) to 1,881.87 points with only 46 gainers, while there were 269 losers. Among them, 10 stocks fell to the floor price.
Total trading volume reached 490.5 million units, value 13,423.3 billion VND, an increase of 27% in volume and 4% in value compared to yesterday morning's session, showing that cash flow focused strongly on midcap and penny stocks. Foreign investors net sold with a value of 713.08 billion VND on all three exchanges.
Regarding the level of impact, the 10 stocks with the most negative impact took away more than 16 points of VN-Index, of which VCB and BID put a total pressure of 5.4 points. In the opposite direction, VIC is the code with the most positive contribution to the general index with 1.36 points of increase.
Red color covered all industry groups in the morning session. Media services and energy temporarily ranked last in the market with decreases of 4.21% and 3.87% respectively.
In addition, large-cap groups such as finance and industry also put significant pressure on the index when a series of stocks simultaneously adjusted above 2%, typically VCB, BID, CTG, TCB, VPB, STB... At the same time, the real estate group also turned around and sank into red when many stocks fell to the floor price such as DXG, NVL, TCH, HDC and DXS.
Experts assess that risk warning signals are starting to appear more frequently, showing that it is highly likely that VN-Index will continue to have a correction phase after 8 consecutive weeks of increase before that. Risk control is needed as this is not a too attractive valuation zone for the general market. With the current developments when the VN30 index, VN-Index is showing signs that it may end the strong price increase phase.
If losing the support zone of 1,900 points, the index may retreat to test the lower support zone around 1,880 points.In the context of increasing short-term risk levels, it is recommended that investors consider realizing partial profits in stocks that have achieved short-term goals.
