Securities stocks plunge after extended period of growth

The securities stock group experienced a nosedive after a prolonged period of growth in previous months, causing the VN-Index to give back almost all of the gains from the previous session.

The Vietnamese stock market's trading session on September 21 was a derivatives maturity session that led to significant volatility in the indices, with the VN30 Index dropping by nearly 16 points. Many large-cap stocks suffered sharp drops, having a substantial impact on the VN-Index.

Specifically, the securities stock group faced a significant downturn, with a series of leading stocks plummeting. For instance, BSI hit the floor, SSI sank 4.66 percent, VCI dumped 4.16 percent, HCM went down 3.12 percent, VCI plunged by 5.62 percent, FTS fell by 5.05 percent, CTS reduced 5.18 percent, AGR shrank by 4.68 percent, and TVS cut by 4.09 percent.

The banking stock group was also flooded in red, with several stocks in the VN30-Index basket declining by over 1 percent. For instance, STB dropped by 2.71 percent, VIB decreased by 1.67 percent, MBM devalued by 1.3 percent, VCB retreated by 1.14 percent, and BID slid by 1.09 percent.

While the real estate stock group showed some variations, it mostly trended in the negative direction. Several large-cap stocks posted steep drops, with VIC down 2.43 percent, NVL down 1.62 percent, KBC down 1.24 percent, KDH down 1.97 percent, PDR down 2.78 percent, DIG down 2.83 percent, and DXG down 3.46 percent. However, a few managed to stay in the positive territory, with TCH up 4.32 percent, IDC up 1.82 percent, and BCG up 2.58 percent.

Additionally, other sectors, such as energy, aviation, and retail, also joined the overall market trend.

At the close of the trading session, the VN-Index fell by 13.37 points, or 1.09 percent, settling at 1,212.74 points, with 370 losers, 150 gainers, and 48 unchanged stocks.

Concluding the session on the Hanoi Stock Exchange (HNX), the HNX-Index also slumped by 2.95 points, or 1.16 percent, to 251.87 points, with 101 stocks declining, 73 advancing, and 66 treading water.

Trading volume increased compared to the previous session, with the total trading value across the entire market reaching nearly VND26.8 trillion.

Foreign investors maintained their net selling streak, continuing to sell nearly VND362 billion worth of shares on the HOSE.

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