Entering the morning trading session today (May 22), cautious sentiment overwhelmed the market, causing the electronic board to continue to sink into red from early on. Although supply pressure was not too strong, it occurred widely. Among them, bluechips with pillars such as VHM, VIC losing 3-4% caused VN-Index to decrease quite quickly. The group of mid-cap and small-cap stocks also had many stocks under pressure, such as Viettel, Gelex group with VTP, CTR, GEE, GEX.
Increased selling pressure caused the main indices to continue to sink deeply in red at the end of the morning session. Mid-session break, VN-Index decreased by nearly 32 points (-1.68%), to 1,864.97 points. Meanwhile, HNX-Index increased by 0.79%, to 266.46 points. Market breadth is increasingly leaning towards sellers with 426 declining stocks, 210 increasing stocks and 919 unchanged stocks. Liquidity only reached more than 9,389 billion VND.
Foreign investors strongly promoted net selling with a value of nearly VND 1,800 billion on all three exchanges. Selling pressure focused on MSB with a value of VND 669.04 billion, far ahead of the remaining stocks. Meanwhile, leading the top of net buying are FPT and HCM but with values of only VND 26.5 billion and VND 24.41 billion respectively.
Regarding the level of impact, the 10 stocks with the most negative impact took away a total of 25.38 points of VN-Index, especially VIC and VHM put pressure up to 19 points. In which, the total of 10 most positive contributing codes also only helped the index increase by a mere 1 point, showing the dominance of the selling side.
Most industry groups were submerged in red. The real estate group temporarily "sits at the bottom" with a sharp decrease of 3.29%. Large-cap industry groups such as industry and finance also put pressure on the overall index when a series of stocks fell.
Experts from VikkiBank Securities Company believe that adjustment pressure is still present as cash flow continues to be cautious and mainly concentrated in some individual stock groups. In the short term, differentiation is likely to continue to be maintained as investors wait for more clear signals about the cash flow trend.
BIDV Securities Company believes that the market has not yet had a session to determine a clear up or down trend, low liquidity shows a cautious trading sentiment. Investors need to continue to maintain a cautious trading mindset in this period.
SHS Securities Company believes that the short-term trend of VN-Index still maintains growth above the psychological support zone of 1,900 points.However, VN-Index after a period of strong price increase for 8 consecutive weeks from the bottom around 1,600 points to the price zone around 1,930 points is at risk of creating a short-term peak, ending the strong price increase period with main pressure from the Vingroup stock group.The trend of VN30 is weakening and will only be positive again if it surpasses the resistance zone around 2,050 points.
"Market quality is weakening, investor sentiment is also starting to become less optimistic when there are not many good profit opportunities.In the context that the Vingroup group may end the short-term strong price increase period, putting pressure on the main indices VN-Index, VN30.Investors need to maintain a high proportion, the expanded portfolio needs to continue to control risks", SHS Securities Company stated its opinion.
