The House Always Wins: Brokers’ Proprietary Trading Books Show Massive Sell-Off in Defensive Stock

"Contrarian investors would be delighted to hear that a stockbroking firm's proprietary trading desk has been aggressively accumulating bank stocks. In a bold move, the desk has been quietly building a position in the hopes of a lucrative payoff. This strategic maneuver showcases a confident bet on the potential upside of the banking sector, a contrarian play that could pay dividends—literally and figuratively—if the sector rebounds."

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The stock market extended its gains during the September 26 session. VN-Index remained in positive territory throughout the trading day, closing with a modest gain of 4.01 points (+0.31%) to reach 1,291.49. Foreign investors’ trading activities were positive, as they net bought approximately VND 980 billion on the market.

Securities companies’ proprietary trading activities resulted in a net purchase of VND 208 billion in the market.

On the HoSE, securities companies’ proprietary trading activities resulted in a net purchase of VND 169 billion. This included a net purchase of VND 467 billion on the matching order channel, but they net sold VND 298 billion on the negotiated trading channel.

Specifically, securities companies’ transactions net purchased VND 272 billion worth of TCB bank shares. Additionally, stocks like ACB, HPG, STB, and others were also net purchased during the September 26 session.

On the other hand, BWE witnessed the most significant net selling by securities companies, with a sudden value of VND 462 billion, mainly through negotiated trades. Following BWE, EVF and MBB were also net sold, with respective values of VND 122 billion and VND 40 billion. Other stocks that were net sold during this session included VCI, VNM, TCH, and a few others…

On the HNX, securities companies’ proprietary trading activities resulted in a slight net sell-off, with MBS being net sold for nearly VND 6 billion. Conversely, PVS and VGS experienced net buying of about VND 2 billion for each stock.

On the UPCoM, securities companies’ proprietary trading activities resulted in a net purchase of VND 39 billion, with VLC witnessing net buying worth VND 48 billion. BSR was also net purchased for VND 9 billion. Conversely, TSJ experienced net selling of nearly VND 39 billion.

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