The market has become more and more unpredictable when each recovery phase faces the risk of selling goods. There is no bad news, only investor sentiment is changing …
The market continuously has sessions with very high liquidity.
The market has become more and more unpredictable when each recovery phase faces the risk of selling goods. There is no bad news, only investor sentiment has changed.
The excitement from the positive developments in the world last night sparked some hope at the beginning of the session. VN-Index opened with a slight drop of only 0.18% and then increased by 0.59% compared to the reference. However, despite trading tens of thousands of billion dong on the HSX, the index still couldn’t increase but just moved sideways.
The movement in a narrow band this morning was even worse than the previous sessions. For example, yesterday, the VN-Index exploded and increased by more than 0.8% before being discharged. This session seems to have prolonged discharge pressure, earlier when the width narrowed and the index was almost only “damped” by VIC and NVL.
VIC struggled for a few minutes at the beginning of the session and started to speed up around 10am. That is when the stocks started to be sold a lot and fell. VIC increased continuously until the end of the morning session, from the reference level to the top of VND 144,100, equivalent to an increase of 2.27%. NVL increased earlier than VIC, hitting the ceiling of 190,600 dong at around 10:10 am. This stock then went sideways close to the ceiling price. The negative signal was that although VIC and NVL gained extremely “hot”, the VN-Index was weaker, until about 11am, it only increased by 4.8 points, to 11h13 it fell back to reference. In the few remaining minutes in the morning session, the index was knocked down very quickly, partly influenced by VIC suddenly fell. At the end of the morning session, the index evaporated 8.8 points compared to the reference.
In the afternoon, VIC recovered a bit, helping the VN-Index less badly. However, the narrow width on this floor still showed that the majority of stocks were sold out too clearly. VIC closed up 1.49% and HSX’s trading system was congested again after 2 hours, it turned down. The index ended the session with a drop of 8.54 points, or 0.68%.
Movements of the VN-Index during the session, the system blocked at the right time when the index got out of the bottom.
Although the decrease was still quite slight like yesterday, the number of decliners on the HSX was 4 times higher than that of the increase, which is much less than the previous session. Although it did not reach the floor level, there were nearly 240 stocks down by over 1 percent, of which about 175 stocks dropped over 2 percent. With such a plunge, the VN-Index is an annoying phenomenon.
Small and medium stocks were the most heavy losers. Midcap decreased by 1.16%, Smallcap decreased by 1.58%. YEG, SHA, QBS, TNI, TLD, DLG, PXT hit the floor. Many stocks fell deeply with very high liquidity such as LDG, QCG, SJF, ITA, FIT … On the contrary, the heavy speculative stocks rose strongly such as ROS, MHC, HQC, FLC, HQC …
Although there are always stocks going against the market under any circumstances, the width is still a reliable indicator of the general price movement level. The stock declined a lot today and the early recovery phase ended quickly. VN30 group alone had up to 15 stocks reversed from the peak, causing losses of over 2%. Stocks like VHM, BID, PLX, STB, and TCH also reversed and dropped over 3%.
This session was at the most exciting intensity since HSX’s system increased the load. This exchange started to block orders from around 2h10 and stopped at the liquidity threshold of 20,048 billion dong, the highest of the week and set a new historical record. Due to congestion, this phase ATC matched only over 56 billion dong, basket VN30 matched 19.6 billion dong.
The frozen market caused the recovery from the bottom of the VN-Index to freeze at a drop of just over 8 points. Like other jam sessions, investors can deduce both directions when the demand did not come in and pushed the market up or sellers could not take advantage to cut further losses.
Foreign investors continued to be net sellers with the scale of VND 560.8 billion on the HSX, focusing on discharging VHM, HPG, and VNM with hundreds of billion VND of each code. CTG, BID, MSN, PLX, and PNJ were also net sold over 20 billion dong. On the buying side, there were NVL, MBB, FLC, HCM, and DXG with strong net buying.
You must log in to post a comment.