Compared to the previous session, the selling pressure did not decrease but even increased stronger due to the force-sell pressure. In contrast, the bottom-fishing demand did not change much so the VN-Index was flooded in red for most of the trading session.
However, the unexpected happened again after 2 p.m. when the bottom-fishing order started pouring heavily into stocks in the VN30 basket. The return of large-cap stocks helped Vietnam’s benchmark quickly reverse and spread optimism to small and medium-cap stocks.
Closing the trading session on May 10, the VN-Index rallied by 23.94 points, or 1.89 percent, to 1,293.56 points. Of the index, there were 280 gainers, 168 losers, and 43 unchanged stocks.
Green color almost dominated the VN30 group with 28 winners and two losers, namely GVR and VRE. Meanwhile, the stock group that had a positive impact on the index includes VPB with an increase of 4.7 percent, VJC with 4.1 percent, VHM with 2.8 percent, VCB with 2.7 percent, TPB with 5.4 percent, SSI with 3.9 percent, PDR with 4.4 percent, MBB with 3.2 percent, HDB with 4.6 percent, GAS with 3 percent, FPT with 4.7 percent, and BID with 3.9 percent.
Stocks in the FLC and Louis Holdings ecosystem also recovered and ended the trading session in green and purple. Especially, the prosperity of the VN30 group also had a positive impact on the remaining stock groups, such as oil and gas, securities, real estate, steel, and logistics.
The demand for the large-cap stocks helped the market liquidity to be significantly improved compared to the previous session. Specifically, the trading value was approximately VND17.79 trillion (US$771.29 million), equivalent to 665.4 million shares. In which, the transaction value of the VN30 basket reached VND6 trillion ($260.7 million), accounting for more than 33 percent of the transaction value on the HoSE.
The green color of the HoSE also promptly spread to the other two exchanges, HNX and UPCoM. The HNX-Index gained 6.54 points to close at 329.93 points, and the UPCoM-Index edged up 2.56 points to 99.06 points.
