Real Estate Stocks Attracting Money While Banks “Suppress” Index

Real Estate stocks have surged to the top of the market in terms of liquidity this morning, with most experiencing strong price increases. The securities group is also quite active, with banking stocks remaining in the red, as BID, VPB, and VCB weigh down the VN-Index, which is struggling to stay close to the reference point...


A series of real estate stocks soared to the top of the market in terms of liquidity this morning, with most of them experiencing significant price increases. The securities group is also quite active, while banking stocks are still in the red, with BID, VPB, and VCB pressuring the VN-Index to hover around the reference point.

The closing index in the morning session rose by only 0.7 points, equivalent to +0.06%, a very slight increase. The breadth of the market remained balanced, with 213 stocks rising and 223 stocks falling. This is a rather disappointing result as the unexpected momentum from yesterday was only sustained until the opening this morning. The VN-Index reached its highest level about 5 minutes after the market opened, rising by 5.25 points, with good breadth as well, with 217 stocks rising and 65 stocks falling.

Selling pressure gradually increased afterwards, although the number of stocks rising remained stable, the number of falling stocks changed significantly. At the end of the morning session, the VN-Index had 213 stocks rising and 223 stocks falling, which means hundreds of stocks have turned red. The index gradually declined towards the reference point – even nearly 1 point lower at 10:40 am. Not only did blue-chips weaken, but the breadth also reflected widespread selling pressure.

The banking sector is still the main burden for the index. BID is down 0.74%, VPB down 0.78%, and VCB down 0.22%, these 3 stocks caused the most points lost for the VN-Index. Although the decline is not strong, the range of price slides is quite large: VCB slid nearly 1% from its peak, VPB lost 1.04%, and BID declined by about 1.26%. In the banking group, only 6 out of 27 stocks are in the green, with PGB being the only one that has significantly increased by 2.23% compared to the reference point, but it only has 7 trading orders worth 24 million VND. The blue-chip group also includes HDB, STB, and TCB showing some increases, but not significant enough, and with a considerable range of price slippage.

The VN30-Index also increased slightly by 0.06% at the end of the morning session with 11 stocks rising and 17 stocks falling. Many other pillar stocks also weakened, with GAS down 0.26%, VIC down 0.47%, VNM down 0.59%. FPT and GVR still performed well, but not as strong as yesterday: FPT rose by 1.1% and GVR increased by 2.51%, with FPT sliding by 0.98% from its peak and GVR declining by 1.41%.

Although blue-chips are weak and affecting the index, the decline is not significant. This is a good condition for small and mid-cap stocks to become active again. The liquidity of the VN30 basket decreased by 16% compared to yesterday morning, equivalent to an absolute figure of -450 billion VND, but the overall liquidity on HoSE increased by 34% to 2.139 trillion VND. This indicates a significant increase in trading in the small and mid-cap stocks.

The real estate stocks attracted impressive capital flows this morning with the top 3 leaders being NVL with 872 billion VND, which increased by 2.99%, PDR with 757.1 billion VND, which increased by 5.66%, and DIG with 465.8 billion VND, which increased by 2.92%. In addition, CII can also be mentioned with 187.8 billion VND, which increased by 2.2%, and NLG with 175.8 billion VND, which increased by 3.46%…

Overall, the Midcap group on HoSE increased by 0.53% and Smallcap increased by 0.23%, with many stocks experiencing significant price increases. This market has 70 out of 213 stocks that increased by more than 1%, and liquidity accounted for 52% of the total trades on the market. This shows a very high concentration of capital. Securities stocks also made a significant contribution with SSI, VIX, VCI, all having liquidity of over 100 billion VND and price increases of more than 1%. In addition, excellent performances were also seen in mid-range and low liquidity stocks such as DXG, NKG, DGW, DCM, LCG, BAF, VSC, HDC…

On the downside, there are currently 50 out of 223 stocks that have dropped over 1%, but the liquidity of this group only accounts for 3.2% of the market value. There are a few stocks that have traded over 10 billion VND, such as ST8, DPR, TIP, ITA, VIB, BCM, GMD, VGC, OCB, SIP. The largest transaction among these is VIB with 51.3 billion VND, which decreased by 1.45%, the rest are less than 20 billion VND. Therefore, although there are many declining stocks, the actual selling pressure is not strong.

The total trading value on both exchanges this morning increased by over 34% compared to yesterday morning, reaching 9.169 trillion VND. The liquidity of banking stocks on HoSE only slightly increased by nearly 5%, indicating strong trading in other groups. Although this capital flow did not contribute to pulling the VN-Index, it also created short-term profit opportunities.

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