VN-Index recoups thanks to bottom-catching demand

From a drop of 50 points in the morning trading session, the VN-Index unexpectedly closed the trading session on April 26 with a gain of 30 points thanks to the return of large-cap stocks.

After a record loss yesterday, investors started the trading session with a bearish sentiment. Orders to sell at low prices appeared densely on the electronic board with the psychology of escaping the market as soon as possible. Selling pressure continued to cause the VN-Index to freefall in the morning trading session. Sometimes, the benchmark evaporated nearly 50 points.

The losing momentum of the VN-Index cooled down in the second half of the morning trading session when bottom-fishing cash flow started to pour into large-cap stocks. The green color from blue chips encouraged the cash flow to flow into the rest of the small and medium-sized stocks.

The bottom-fishing cash flow only actually prevailed in the last minutes of the afternoon trading session when buying orders at high prices appeared in all sectors, from banking, real estate, and securities, to fertilizer, steel, and oil and gas.

In the excitement of the market, the VN-Index not only managed to maintain green until the ATC session but also closed with the highest gain from the beginning of 2022 to now. Specifically, the VN-Index rallied by 30.42 points, or 2.32 percent, to close at 1,341.34 points.

On the HoSE, there were 338 winners (53 hit the ceiling), 105 losers, and 42 unchanged stocks. The green color also dominated in the VN30 basket, with 27 gainers (five hit the ceiling), two losers, including VCB and VJC, and one unchanged stock. Among winning stocks, GAS, SAB, VRE, VHM, BVH, VPB, VNM, MBB, POW, and HDB contributed most positively to the benchmark’s rally.

The group of stocks related to Trinh Van Quyet continued to have an impressive trading session when all the stocks in this ecosystem closed at the ceiling prices. On the contrary, stocks in the Louis Holdings ecosystem remained flooded in red because the selling pressure has not shown any signs of cooling down.

Market liquidity improved compared to that on Black Monday, with 727.6 million shares matched, equivalent to a total trading value of more than VND21 trillion (US$919.53 million).

The HNX-Index and the UPCoM-Index also had a positive trading session with an increase of 7.66 points (2.27 percent) and 1.6 points (1.61 percent), respectively.

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