In today's trading session (June 3), selling pressure pushed by investors to the exchange early caused VN-Index to decrease and at one point it had just broken through the important milestone of 1,800 points due to the weakening stock group in the Vingroup ecosystem.
Demand then appeared at one point and helped the index at one point regain green color. However, selling pressure from the large-cap real estate group prevented the index from maintaining its recovery momentum in the afternoon session.
At the end of the trading session on June 3, VN-Index decreased by 7.46 points, equivalent to 0.41%, to 1,819.01 points, marking the 7th consecutive declining session. Market breadth leaned towards positive with 356 gainers, 292 losers and 878 unchanged stocks. The whole market recorded 16 ceiling-price gainers and 12 floor-price losers.
Market liquidity reached more than 21,934 billion VND with nearly 797 million shares traded. Foreign investors continued to net sell when buying about 2,619 billion VND but selling more than 3,094 billion VND.
A noteworthy point in the session is that the downward pressure almost came from the Vingroup stock group. According to statistics, VIC took more than 11.6 points of VN-Index, while VHM decreased by about 2.1 points. These are the two stocks that negatively impacted the market in the session.
In the real estate group, Novaland's NVL stock continued to be the focus when it decreased by 4.23% to 13,600 VND/share after the previous floor price decrease. Liquidity surged to more than 52.4 million units, double the previous session and in the highest group on the HoSE exchange.
Although active selling pressure still overwhelmed with more than 34.6 million shares, bottom-fishing demand also appeared strongly, helping this code escape the floor-price decline state for most of the trading session.At the end of the session, NVL still had nearly 2 million shares of surplus for buying.
By industry group, real estate was the sector that decreased the most in the session with an average decrease of 2.81%.The banking group was differentiated but still played a role in supporting the market.
According to experts' assessment, after a period of market increase but poor breadth, cash flow tends to be more selective. Groups that have increased sharply or are heavily dependent on external factors such as goods, oil and gas, or some pillar stocks will need more time to absorb profit-taking pressure. Conversely, banks have the advantage of being large capitalization groups, with good liquidity, discounted valuations to more attractive areas, while profit prospects are still positive.
In terms of market capitalization and liquidity, the market is still revolving around large groups such as banking, securities, real estate, oil and gas and steel, alongside some ecosystem-oriented stocks such as Vingroup, Viettel or FPT.
In the context of weakening banks and real estate in the past week, the possibility of the market soon seeing a spreading increase is not high.When the leading group has not regained its supporting role, cash flow may find groups with their own stories.
Investors may start looking for stocks that have been heavily discounted but still maintain a healthy business foundation and stable profit prospects.This is usually an attractive price range for smart cash flow to disburse and accumulate for the medium term, instead of chasing after groups that have increased sharply.
