VN-Index flooded in red due to strong selling pressure

The Vietnam stock market encountered a tug-of-war throughout the trading session on April 19 but still closed down due to increased selling pressure, including net sales of more than VND460 billion by foreign investors on the HoSE.

The banking, securities, real estate, energy, and retail sectors experienced declines, with housing and industrial real estate stocks being hit particularly hard. Stocks such as NVL, KBC, NLG, DIG, VCG, DXG, HDG, HHV, SZC, and SCR all fell deeply, with decreases ranging from 2.02 percent to 3.95 percent.

Banking stocks suffered significant declines, with CTG dropping 1.37 percent, VPB falling 2.72 percent, STB declining 1.54 percent, HDB decreasing 1.55 percent, TPB sliding 1.97 percent, SHB shrinking 1.3 percent, MSB losing 1.59 percent, LPB weakening 2.14 percent, and OCB going down 1.52 percent.

Securities stocks, on the other hand, saw a mixed performance, with some stocks performing well, such as AGR hitting the ceiling, FTS edging up 1.56 percent, and BSI jumping up 3.64 percent. However, SSI fell by 2.07 percent, VND decreased by 1.97 percent, VCI declined by 2.33 percent, HCM dropped by 2.85 percent, and VIX lost 2.18 percent.

While most stocks fell, a few blue-chip stocks managed to remain in the green, including MWG with an increase of 1.38 percent, FRT with an increase of 2.42 percent, VJC with an increase of 1.11 percent, HVN with an increase of 0.4 percent, and VCB with an increase of 0.57 percent. Despite this, the VN-Index still fell off the 1,050-point mark.

Vietnam’s benchmark closed the session down at 1,048.98 points, a 0.57 percent decrease from its previous close of 1,055.02 points. The market had 115 advancers, 51 unchanged stocks, and 271 decliners.

The HNX-Index on Hanoi Stock Exchange (HNX) also trimmed 2.4 points, or 1.15 percent, to close at 205.85 points, with 82 losers, 62 gainers, and 197 unchanged stocks. The market liquidity remained low, with a total trading value of about VND10.6 trillion on the two official exchanges.