The VN-Index had a tough time maintaining its green color this morning as a series of banking stocks weakened again. Only the Vin group of stocks was able to provide strong support, but not enough to make a breakthrough. The money flow also weakened significantly compared to yesterday morning and foreign investors increased their selling pressure.
The VN-Index ended the morning session up 0.14%, equivalent to +1.77 points. The VN30-Index increased insignificantly by 0.77% with 8 gainers and 17 losers. This alone shows that blue-chip stocks can only maintain a stable pace rather than create a surge like yesterday.
Even within the supporting group, only VIC, VHM, and VRE were the most significant contributors to the index’s gain: VIC increased by 3.51%, VHM by 1.1%, and VRE by 5.61%, contributing approximately 2.9 points to the VN-Index. This means that if these stocks decrease slightly in value, the index will hardly increase.
The banking stocks, after unexpectedly recovering yesterday afternoon, weakened again this morning. In the entire group, only 5 out of 27 stocks increased, and VIB with a growth of 1.14% was the most notable one. Fortunately, the major pillars did not decline significantly, with HDB leading the way with a decrease of 1.07%, the only stock to decrease by over 1%. VCB, TCB, SHB, VPB, and TPB were all in the red, but with small changes, they did not have much impact. That is also the reason why the VN-Index continued to increase slightly despite the narrow range in the VN30 basket, thanks to a few major gainers balancing it out.
The liquidity in the banking sector this morning also significantly weakened, resulting in a lack of strength in prices. This poses a risk to the index if these stocks continue to weaken in the afternoon session. In fact, apart from the Vin group, other strong pillars yesterday such as GAS, MSN, HPG, and VNM are also lagging behind.
However, the market is not bad, and the breadth still shows the ability to maintain differentiation in stocks. Even when the VN-Index experienced the deepest decline, hitting bottom at 9:45 am, there were still 147 gainers and 244 losers. At the end of the morning session, HOSE had 227 gainers and 225 losers. Looking at the distribution of funds, the gaining group still had a slight advantage, accounting for nearly 54% of the total matched trading value on HOSE, while the losing group accounted for 36%.
The market had 70 stocks with an increase of over 1%, contributing to 32.2% of the exchange value. The most active trading appeared in VIX with VND 723.1 billion matched value, a 3.35% increase; VRE with VND 373.1 billion, a 5.61% increase; GEX with VND 339.7 billion, a 1.35% increase; VHM with VND 272.5 billion, a 1.1% increase; VIC with VND 246.7 billion, a 3.51% increase; EVF with VND 219.1 billion, a 4.51% increase; VCI with VND 177.2 billion, a 1.11% increase; PDR with VND 160.1 billion, a 1.02% increase.
On the downside, there are currently only 36 stocks declining by more than 1% and their trading volume only accounts for 6.5% of the market. DBC, CII, FIR, FCN, PAN, VHC, DGW, HAG, HDB, and GAS are the only stocks with over VND 10 billion matched volume.
Therefore, the state of narrow fluctuations is becoming common. Stocks are less vulnerable and there are not many explosive stocks. However, the concentration of funds is still more positive on the gaining side, meaning that the pushing force is still at an advantage. Due to the differentiation of funds, even within each group of stocks, the price volatility is not the same, and there is no group that stands out in terms of gains. For example, in the real estate group, the VNREAL index of HOSE increased by 1.72%, but it is mainly thanks to Vin stocks. The securities group has VIX, VCI, FTS, and CTS performing well, but many other stocks are fluctuating with low liquidity.
The total trading value of the two exchanges in the morning session decreased by over 14% compared to yesterday morning, reaching VND 11,189 billion. Among them, HOSE’s trading value decreased by 18%, reaching VND 10,076 billion. Most heavily traded stocks yesterday saw a significant decrease in trading intensity. For example, VIC’s trading value decreased by 32%, VHM by 38%, VNM by 57%… After an explosive trading session, a decrease in liquidity is normal when investors pause to observe. However, the trading volume in the morning session of over VND 10 trillion for both exchanges is not low, considering that the average in the morning session last month before Tet was only about VND 7-8 trillion.
