The market continues to slide, but money is still flowing in search of opportunities. After the unexpected movement of steel stocks yesterday, food and retail groups attracted strong buying interest this morning, with most stocks in these sectors trading higher. Some pork stocks even hit the upper limit at one point.
DBC is currently leading the market in terms of liquidity, with a matching volume of VND 317.1 billion and a price increase of 3.11%. BAF, up 4.95%, leads in terms of price range; it even touched its upper limit in the middle of the morning session and traded VND 145.5 billion worth of shares. In just the morning session, DBC set a two-month high in liquidity, and BAF a four-month high.
Several other stocks also rose, including HAG (+2.88%), MSN (+0.8%), VHC (+1.43%), PAN (+3.12%), ANV (+1.58%), VLC (+2.62%), NAF (+4.35%), and LTG (+5.33%) …
Of course, it’s not just the food sector that’s bucking the downtrend; the VN-Index still has 131 gainers versus 226 losers. However, the money flow is most evident in essential stocks during this flood season. The HoSE also saw some other stocks trading higher, but with much lower liquidity, such as BMP (+4.68%, VND 33.9 billion), TCD (+4.18%, VND 38 billion), SGR (+1.67%, VND 15.5 billion), VJC (+1.46%, 48.1 billion), TPB (+1.42%, VND 228.6 billion), and PC1 (+1.24%, VND 39.5 billion).
Overall, the market was still dominated by declining stocks this morning. The positive performance of global stock markets last night supported the domestic market in the early morning session. The VN-Index reached its intraday high just a few minutes after the opening bell, rising 4.1 points, but turned red around 10:15 am. By the end of the morning session, the VN-Index had lost 3.27 points (-0.26%). This downward slide was accompanied by a deterioration in breadth: at 9:30 am, the HoSE had 213 gainers versus 62 losers. By 10:30 am, this ratio had changed to 163 gainers versus 162 losers, and by the end of the session, it was 131 gainers versus 226 losers. Selling pressure clearly increased over time, pushing prices lower.
On the positive side, there weren’t many stocks that experienced panic selling. On the HoSE, 72 stocks declined by more than 1% from their reference prices, but only about 20 of them traded over VND 10 billion worth of shares. Only three stocks had matching volumes exceeding VND 100 billion: DIG (-2%, VND 121.6 billion), DXG (-2.91%, VND 120.9 billion), and VRE (-1.99%, VND 117.6 billion). Among the stocks with liquidity around VND 50 billion, only five declined: PDR (-2.07%), KDH (-1.06%), VIC (-1.14%), VND (-2.96%), and NVL (-1.52%) … These 72 deeply declining stocks accounted for only about 20% of the total HoSE floor value.
Large-cap stocks were mostly in the red this morning, with the VN30-Index down 0.14%, 11 gainers versus 15 losers. Fortunately, among the largest stocks, only VIC fell sharply. In the top 10 by market capitalization, only VNM rose (+0.4%), while VHM was unchanged; the rest declined. Mid-cap stocks supporting the index included MSN (+0.8%), VJC (+1.46%), VNM (+0.4%), TPB (+1.42%), and MWG (+0.44%).
Stock Market Outlook for the Week of September 16–20: Are There Any Surprises in Store for Stock Prices?
This week, all eyes are on the US Federal Reserve’s policy meeting, with markets anticipating a potential surprise move.
