After many unsuccessful advances, VnIndex gradually withdrew before the ATC session and upon entering the ATC session, the strong sales force caused VnIndex to lose 25 points deeply. With this fall, VnIndex fell below 1,270 points. The HNX index was no exception, with a decline of 1.47% to 301 points.
Investors were not too surprised by today’s correction, as in the last two rising sessions, the market buying momentum was very low. Because buying motivation is low, once the selling pressure to get out of the context of unclear upward market trend, the demand side is not strong enough to balance. VnIndex-therefore-reduced quite deeply.
Around 14h-14h15 ‘, the stock market witnessed an attempt at recovery and, in fact, VnIndex approached the reference price. However, this attempt failed. VnIndex fell 11 points ahead of ATC.
Currently, the VN30 portfolio has 4 stocks trying to go against the market: VNM, FPT, POW and STB. These 4 stocks suddenly gained quite well, but were not able to withstand the market crash.
From early in the morning until now, the stock market has made at least two recovery efforts. At times, the market recovered from -10 points to +2 points, but selling pressure pushed the index deep. The second recovery, the index also recovered from -8 points to approach the reference price, but then this attempt continued to fail with strong selling pressure. Currently, VnIndex is down more than 8 points. The red color covered the bag.
After almost two hours of trading, the second advance of VnIndex is taking place. VnIndex of -8, -9 points recovered quite quickly until it closed at the benchmark.
However, market liquidity has not yet shown significant signs. Shareholders want a strong upward trend to reduce their losses, while money holders are not very interested.
For more than an hour of trading, the stock market often tried to recover, but each time it recovered above the 1,290 points for VnIndex, the selling pressure increased sharply. Current purchase demand has increased but not significantly, so many stocks remain in the red.
Today’s session opened with red hedging derivatives. The VN30F derivatives market opens 15 minutes before the opening time of the underlying stock market, so many investors often monitor the evolution of this market to analyze possible market trends during the session. . At nine in the morning, after the end of the ATO session to determine the opening price, the August VN30F contract fell more than 4 points.
At the opening of the ATO session of the underlying shares, the market was in the red. Yesterday’s session did not close at the highest time of the day in the context of liquidity loss, so many investors opt for the scenario that the upward trend of the market may not be sustainable. Cash flow has not really entered and the market has not given any significant signal that a stock market tsunami may appear in this recovery, so many investors are still choosing the solution of staying still and watching.
One of the major pressures of the stock market at the moment is the pressure of net sales from foreign investors. In the last 3 sessions, foreign investors became net sellers of hundreds of millions to trillions of dong per session.
Information on the business results of companies is also gradually announced. Currently, the business situation is clearly divergent, many companies have achieved great growth, but also many companies are at a loss.
At 9.16am, VnIndex lost 9 points. The HNX index lost 1 point. The number of red codes overwhelmed the stock market. It seems that the old bull trap scenario is happening again and it is possible that those who were in no hurry to buy and chase in the last two recovery sessions had made the right decision.