Market starts the week with slight decline
Market starts the week with slight decline
The stock market began the new week with a slight decline, as the VN-Index dipped below the 1,275-point mark. Liquidity saw a slight increase, while foreign investors extended their selling streak.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index lost 3.36 points, or 0.26 per cent, closing at 1,272.72 points.
Despite the drop, market breadth remained positive, with 179 gainers, 135 decliners and 55 unchanged stocks. Liquidity rose to VNĐ17.6 trillion, approximately US$689 million, representing an 18.9 per cent decrease from the previous session.
Meanwhile, the VN30-Index, which tracks the 30 largest stocks by market capitalisation, also declined, losing 6.51 points, or 0.49 per cent, to settle at 1,334.01 points. Within the VN30 basket, 19 stocks fell, nine advanced and two remained unchanged.
The market’s downturn was primarily driven by losses in blue-chip technology and banking stocks. The Bank for Investment and Development of Vietnam (BID) posted the sharpest drop, slipping 1.1 per cent, which erased 0.73 points from the VN-Index. Masan Group Corporation (MSN) also declined, losing 2.5 per cent, while the Vietnam Joint Stock Commercial Bank For Industry And Trade (CTG) fell 0.99 per cent.
Despite the overall market weakness, several large-cap stocks helped limit the decline. The Gelex Electricity Joint Stock Company (GEE) hit its daily limit, surging 6.9 per cent, adding 0.26 points to the VN-Index. Southeast Asia Commercial Joint Stock Bank (SSB) gained 1.79 per cent, while VIX Securities Joint Stock Company (VIX) advanced 5.91 per cent and Vietnam Rubber Group - Joint Stock Company (GVR) increased by 0.66 per cent.
Market analysts at Saigon - Hanoi Securities (SHS) noted that the market opened cautiously and quickly retreated into negative territory, particularly pressured by losses in the banking sector, led by BID. The VN-Index briefly dipped below the 1,275-point threshold before recovering some of its losses in the afternoon session.
"Although the market remains lacklustre, there are signs of support near the 1,270-point level, as indicated by the hammer candlestick pattern. Trading liquidity increased compared to the previous session, signalling stronger selling pressure, but at the same time, buyers stepped in to absorb supply at lower prices," SHS analysts said.
They further noted that the market remained fragmented, with gains mostly concentrated in mid and small-cap stocks. The real estate sector negatively impacted investor sentiment, adding to market pressure.
Despite the current weakness, support signals could provide momentum for a rebound in the coming sessions. If the market could retest and break through the 1,275-point resistance zone, trading activity was expected to become more dynamic.
On the Hà Nội Stock Exchange (HNX), the HNX-Index rose by 0.85 per cent to 233.19 points. Trading value on the northern bourse reached VNĐ1.2 trillion, with more than 78 million shares changing hands.
Foreign investors continued their selling spree, offloading shares worth VNĐ600 billion on the HoSE and over VNĐ28 billion on the HNX.
