The morning rally stalled as the market became more polarized. However, the inflow effect is still quite positive, with a higher level of selectivity. Real estate stocks were the focus as many codes rose sharply and attracted impressive liquidity.
The VN-Index ended the morning session up slightly by 0.25%, or +3.12 points, a rather disappointing increase considering the early efforts. At one point, the index had gained more than 7.1 points (+0.56%), peaking at 10:24 am. The breadth at the peak recorded 252 gainers and 134 losers, but by the end of the session, it was fluctuating with 211 gainers and 207 losers.
The breadth dynamics indicate that many stocks fell below the reference level, not to mention the large number of stocks that narrowed their gains. However, the trading was not too bad when looking at the perspective of liquidity distribution and price changes. Specifically, out of the 207 losing stocks, only 35 declined by more than 1%, with the majority having very small trading volumes. The total liquidity in this group accounted for only 5.9% of the HoSE floor. On the gaining side, out of the 211 gainers, 77 stocks rose by more than 1%, concentrating 31.5% of the total matching value on this exchange.
Thus, the price increase and liquidity effects remain positive. Although many stocks fell, they are still adjusting their heights in a rising state. Real estate stocks are attracting stable liquidity. The VNReal index on the HoSE floor ended the morning session up 1.09%, the best-performing sectoral index. DIG was the standout performer, leading the market’s liquidity with nearly VND375.7 billion in value and a sharp 6.5% gain. DXG rose 1.65% with a turnover of VND197.9 billion; PDR gained 4.2% with VND181.7 billion, and VRE increased 3.37% with VND158.5 billion, also leaving a strong impression with their liquidity in the market’s top 10. In addition, OCH, OGC, CEO, SJS, NTL, and DXS also rose over 2% despite more limited liquidity.
The market’s cooldown this morning was partly influenced by the blue-chip group, especially the banking stocks, which had a strong showing yesterday. This morning, many of these stocks started to stall. Among the top 10 market caps of the VN-Index, only VHM posted a solid gain of 1.03%. While VCB, FPT, GAS, VIC, and VPB remained in positive territory, their gains were modest. These stocks clearly lowered their heights during the session, dragging the index down with them.
The VN30-Index also ended the morning with a milder increase of 0.18%, underperforming the VN-Index. At its peak, this index was up 0.56% from the reference level. Statistics show that except for VCB, which closed at its intraday high, all 29 other stocks in the basket fell to some extent. This basket went from having all 29 stocks in the green and none in the red to ending with 113 losers and only 11 gainers. Stocks like GVR, CTG, MSN, MWG, STB, SSI, and TCB fell over 1% from their intraday highs.
However, market liquidity this morning remained robust, with the two listed exchanges matching over VND6,523 billion, only a slight decrease of 3% from yesterday morning. One reason for this small decline is the weaker trading in FPT and banking stocks. Nevertheless, liquidity showed signs of improvement in mid and small-cap stocks. Specifically, while the HoSE floor saw an absolute decrease in trading of about VND356 billion, the VN30 basket witnessed a more significant drop of VND979 billion. In other words, stocks outside the VN30 basket increased their liquidity to make up for the overall decrease.
Foreign investors showed signs of increased selling this morning, offloading VND1,016.9 billion on the HoSE exchange, about 5% higher than yesterday morning. The corresponding net selling value was VND302.4 billion. The positive sign is that there were no stocks that were dumped abruptly, and this net selling was spread across many codes. Specifically, DGC, the most net sold stock, saw a net outflow of only VND49.9 billion. Additionally, MWG was net sold by VND39.8 billion, FRT by VND29.2 billion, MSN by VND23.1 billion, VIX by VND22.4 billion, SSI by VND21.3 billion, VCI by VND26.7 billion, FPT by VND26.6 billion, and CTG by VND25.7 billion. On the net buying side, DIG was net bought by VND36.3 billion, PDR by VND28.1 billion, and TPB by VND25.3 billion.
Market Beat on Feb 21st: VN-Index Sees Strong Tug-of-War at the Almighty 1,300 Resistance
The market closed with the VN-Index up 3.77 points (+0.29%) to 1,296.75, while the HNX-Index fell 0.45 points (-0.19%) to 237.57. The market breadth tilted towards decliners, with 423 stocks falling versus 359 advancing stocks. The sell-off was more pronounced in the VN30 basket, with 18 gainers, 11 losers, and 1 stock referenced.
The Stock Market Week of February 17-21, 2025: Navigating Intensifying Foreign Investor Pressure
The VN-Index sustained a positive upward trajectory this week, with trading volumes above the 20-day average, indicating brisk investor activity. However, foreign investors continued their selling spree, maintaining a net selling position. If this trend persists, it could significantly impact the market as the VN-Index approaches the crucial resistance level of 1,300 points.
The Market Tug-of-War: Will the Stalemate Finally End?
The VN-Index rose while maintaining a tug-of-war stance following recent alternating sessions of gains and losses. Moreover, with trading volume remaining below the 20-day average, it indicates that investor caution is still prevalent. The Stochastic Oscillator indicator is also signaling a sell-off within the overbought territory, with a potential exit from this zone in the coming period. Should this occur, the risk of short-term corrections persists.
The Market Tug-of-War: Can the Bulls Break Free?
The VN-Index retreated, continuing its volatile movement as it retested the old peak of December 2024 (1,270-1,285 points). This threshold has proven to be a significant resistance level, as the index has repeatedly tested this zone recently. Presently, the Stochastic Oscillator is venturing deep into overbought territory. Should a sell signal emerge and the index falls out of this zone, the risk of a correction heightens in upcoming sessions.
Market Beat: A Tale of Contrasting Headlines and Cautious Sentiment
The market closed with the VN-Index down 1.54 points (-0.12%) to 1,266.91, while the HNX-Index climbed 0.45 points (+0.2%) to 229.32. The market breadth tilted towards gainers with 349 advancing stocks against 375 declining ones. The large-cap basket, VN30-Index, witnessed a similar performance with 14 losers, 11 gainers, and 5 stocks closing flat, indicating a relatively balanced session.
