In yesterday's trading session (May 5), the stock market recorded a strong recovery of VN-Index with an increase of more than 20 points. However, the current upward trend of the general market is greatly affected by the large-cap Vin stock group that has not spread to many industry groups, so positive signals have not been confirmed.
In the market, most industry groups tend to have weaker prices than the VN-Index and Vingroup group. This development is putting great pressure on the psychology of many investors as the risk of losses in many stocks increases while the VN-Index is still increasing strongly. Therefore, short-term investors are currently under pressure to reduce the proportion of speculation.
This appeared right in the morning trading session today (May 6). VN-Index in the first half of this morning's session continued to maintain an inertional upward momentum. However, the subsequent increase cooled down and reversed to decrease when VN-Index approached the resistance level of 1,900 points, profit-taking pressure occurred in the Vingroup group and some other bluechip codes, causing this group to reverse to decrease, but the decrease was not strong.
Closing the morning session on May 6, VN-Index decreased by 2.66 points (-0.14%) to 1,872.19 points with 127 gainers and 164 losers. Total trading volume reached 339.8 million units, worth 9,497.5 billion VND, a slight decrease compared to the morning session yesterday.
Foreign investors continued to net sell with a value of 686.21 billion VND on all three exchanges. Selling pressure mainly focused on FPT with a value of 216.94 billion VND. Meanwhile, POW led the top of net buying with a value of 83.2 billion VND.
Two Vingroup stocks, VHM and VIC, the biggest support for yesterday's market increase session, today are the biggest drag on the market when they turned down 1.85% to 148,400 VND and 1.55% to 216,100 VND respectively. Liquidity reached 2.65 million units and 1.4 million units respectively. Meanwhile, VRE and VPL still maintained an increase of 0.71% to 35,450 VND and 2.16% to 89,900 VND respectively.
In the opposite direction, GAS and STB had the most positive impact, bringing the overall index a total of more than 2 points of increase.
A notable highlight in this morning's session came from NVL shares. As soon as the market opened, orders to sell massively at floor prices continued to be put in early in the session, causing NVL to continue to fall to the floor price to 16,600 VND/share right at the opening of the session.
However, immediately after that, bottom-fishing demand strongly entered the market, absorbing all the floor selling surplus, climbing above the threshold of 17,000 VND with superior liquidity. Closing, NVL decreased by 3.37% to 17,200 VND, matching 58.4 million units. Foreign investors still strongly sold NVL with a net selling volume this morning of nearly 3.7 million shares.
Experts from Beta Securities Company believe that the current upward momentum of the market is highly selective, when cash flow only focuses on a few leading stocks instead of spreading evenly. This makes the "base" of the index more fragile, and the risk of short-term correction is also gradually becoming apparent, especially in the scenario of the pillar group weakening or losing its supporting role.
In that context, investors need to keep their heads cool before point-scoring increases, avoiding euphoria.Closely observe the reaction of VN-Index at support zones to assess the strength of cash flow.The reasonable strategy at this time is to prioritize preserving achievements, controlling risks and only disbursing in stocks with solid foundations and supporting cash flow.
