VN-Index tumbles on strong profit-taking pressure

Strong profit-taking pressure forced both domestic and foreign investors to sell off shares, causing the VN-Index to drop sharply.

The Vietnamese stock market experienced a tug-of-war in the trading session on September 13. Selling pressure in the market was significant, resulting in a net selling of VND1.09 trillion of foreign investors on the HOSE. As a result, the VN-Index only showed a slight gain during the morning session but experienced a sharp decline in the afternoon, at times losing more than 10 points.

The majority of key sectors were flooded in red. In the VN30-Index basket, only a handful of stocks managed to hold onto gains. For instance, MWG rallied by 3.05 percent, GAS climbed by 2.82 percent, VIB surged by 2.94 percent, and CTG, VPB, POW, and PLX went up by nearly 1 percent, while most other stocks were in decline. Notably, all three members of the Vingroup conglomerate experienced simultaneous drops, with VHM decreasing by 2.62 percent, VRE weakening by 1.69 percent, and VIC reducing by 1.82 percent. Furthermore, VNM saw a decline of 1.49 percent, SAB by 1.24 percent, HPG by 1.22 percent, and GVR by 1.76 percent.

In the real estate stock group, NVL dropped by 4.8 percent, DXG by 2.2 percent, DXS by 2.6 percent, IDC by 1.2 percent, KBC by 1.3 percent, LDG by 1.9 percent, and SCR by 1.6 percent. Conversely, CEO strengthened by 2.9 percent, HDG by 1.4 percent, and QCG by 2.1 percent.

The securities group also experienced a significant turnaround in several stocks, with VND erasing 2 percent, VCI cutting 2.38 percent, HCM sliding 1.26 percent, VIX declining 2.91 percent, FTS shrinking 1.2 percent, ORS sinking 2.48 percent, and VDS falling 2.62 percent. In the banking sector, MBB saw its value decline by 1.04 percent, STB recorded a drop of 1.24 percent, SHB experienced a decrease of 1.59 percent, and VCB, TCB, and SSB dropped by nearly 1 percent.

At the end of the trading session, the VN-Index retreated by 7.055 points, or 0.57 percent, to close at 1,238.39 points, with 331 stocks declining, 192 advancing, and 50 holding steady.

Meanwhile, the HNX-Index also saw a slight decline of 0.21 points, or 0.08 percent, settling at 256.11 points, with 105 stocks decreasing, 77 increasing, and 65 remaining unchanged.

Liquidity increased compared to the previous session, with the total trading value reaching nearly VND33.4 trillion.

Following a net buying session the previous day, foreign investors switched to net selling during this trading session, with a net selling value of VND1.09 trillion on the HOSE.