After an impressive increase in recent sessions, profit-taking pressure appeared in yesterday's session (November 18) causing the market to shake. Only thanks to the support of some pillars, especially Vingroup and some banking stocks, has the VN-Index maintained its green color.
This has caused the selling pressure to increase, causing red to dominate when opening today's trading session (November 19).
The increased profit-taking pressure in the afternoon session caused the VN-Index to decrease sharply, closing 11 points (0.66%) to 1,649 points. Liquidity remains low, with a trading value on HOSE of only over VND24,000 billion. Foreign transactions were the minus point when they continued to net sell VND716 billion.
In the VN30 basket, there are only 5 green colors left, in which HDB replaces HPG as the strongest increase code +2.79% to 31,300 VND, HPG only increased by 0.36% to 27,600 VND.
VIC's increase was also narrowed at the end of the session when it increased by only 0.23% to VND 220,500, VNM increased by only 0.33% to VND 60,900.
Meanwhile, in the opposite direction, many expansion stocks are decreasing. If there is no code reducing by 2%, at the end of the afternoon session, there are up to 7 codes decreasing by more than 2%, of which the strongest decrease is TPB when it lost 2.56% to 17,150 VND, followed by SSI decreasing by 2.53% to 34,650 VND, VPB decreasing by 2.43% to 28,100 VND. Another Vingroup stock, VRE, also fell sharply by 2.32% to 31,600 VND.
For industry groups, banking groups only have 2 green colors, in which in addition to HDB, there is also NAB - this is the code replacing VIB in the morning session; the 3 stocks are VIB, EIB and STB, the rest have decreased. The strongest decreases were TPB and VPB with a decrease of more than 2%, followed by TCB with a decrease of 1.56% to VND34,800.
The entire stock group was in the red, including 6 stocks that decreased by more than 2%, with the strongest decrease still being VIX down 3.85% to VND 25,000. Next was the VND down 3.72% to VND 19,400.
The real estate, construction and employment groups were the strongest decreases -3.2% to 36,300 VND; LDG decreased by 3.03% to 4,800 VND. In addition, other stocks with strong declines have DXG down 2.81% to VND 19,050, HDG down 2.44% to VND 32,000, BCM down 2.36% to VND 66,100.
In terms of liquidity, SHB and HPG are the two codes with superior liquidity compared to the rest with 59.46 million units and 56.32 million units. Next are HAG and 3 stock codes: VIX, VND and SSI.
Currently, the index fluctuates around the short-term bottom and checks the MA100 mark, so the appearance of alternating red - green sessions is completely normal during the bottom formation process. Regarding cash flow, weak liquidity with capital flows mainly focused on the backpacking industry groups in the mid-cap group - groups that have deeply discounted 30-40% in the previous adjustment period and owned their own story and a healthier financial platform than the general level.
With current signals of cash flow and technical structure, along with a positive basic foundation, investors expect that the VN-Index will continue to fluctuate in the 1,580-1,680 range in the coming time. It is likely that this is still a period of accumulation and price re-balancing before the market forms clear recoveries to establish new trends.
Tomorrow's trading session (November 20) will be the maturity session on the VN30 index futures contract market, so it can increase the level of fluctuations in the index in the previous consecutive sessions. However, investors can continue to take advantage of the increase in the session to disburse to industry groups that have adjusted down sharply and are recovering, attracting cash flow back such as banking, securities, and real estate.
