Market treads water on cautious sentiment

Market treads water on cautious sentiment

Meanwhile, foreign investors extended their selling streak to four consecutive sessions, recording a net selling of nearly VNĐ2.9 trillion on HoSE and VNĐ51.1 billion on HNX.

A trading office of SSI Securities Corporation. The securities firm dropped more than 2 per cent on Wednesday, weighing on the market sentiment. — Photo courtesy of SSI

The stock market was stable after the holiday break, with the VN-Index hovering around the 1,680 point level.

Most securities firms had anticipated the market would remain flat and oscillate within the range of 1,650 to 1,690 points, reflecting investor caution following the extended holiday period.

This prediction aligned closely with the actual market behaviour, as the VN-Index frequently shifted between positive and negative territory, ultimately closing with a minor decrease of less than one point compared to its reference level.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index was little changed on Wednesday, down slightly 0.91 points to 1,681.3 points.

Although this slight adjustment interrupted a four-session upward streak, it did not alter the short-term bullish trend.

Despite the VN-Index closing in the negative zone, the number of gainers outpaced decliners by 212 to 110. The bourse's liquidity rose slightly by 8.4 per cent from the last trading session of August to VNĐ37.3 trillion (US$1.4 billion).

Profit-taking pressure from large-cap stocks was a primary factor contributing to the index's decline.

The VN30-Index, which tracks the 30 largest stocks on HoSE, fell 5.79 points, or 0.31 per cent, to 1,859.59 points. In the VN30 basket, 12 stocks increased, while 15 decreased and three ended flat.

Key market players such as Vietcombank (VCB), Vingroup (VIC), Mobile World Investment Corporation (MWG) and SSI Securities Corporation (SSI) all saw decreases of over 2 per cent from their reference prices.

Sector-wise, the securities group faced the most significant selling pressure. Besides SSI, leading stocks like HCM City Securities Corporation (HCM), Vietcap (VCI) and VIX Securities (VIX) also corrected by around 1 per cent.

Agribank Securities Corporation (AGR), however, bucked the trend, logging the maximum daily gain of 7 per cent.

Many other sectors, including realty and gas and oil, displayed positive performance. 

In the real estate sector, only VIC, Vinhomes (VHM) and Vincom Retail (VRE) closed below their reference prices, while the remaining stocks experienced strong gains. Smaller-cap stocks such as Phat Dat Real Estate Development (PDR), HCM City Infrastructure Investment (CII), DIC Group (DIG) and Dat Xanh Real Estate Services (DXS) even reached the ceiling prices.

The oil and gas sector exhibited similar trends, with all stocks risingexcept for PV Gas (GAS), which maintained its reference price. Binh Son Refining and Petrochemical Company Limited (BSR) saw a 4 per cent increase, contributing positively to the overall index.

On the Hanoi Stock Exchange (HNX), the HNX traded higher at 282.7 points, up 2.72 points, or 0.97 per cent.

Foreign investors extended their selling streak to four consecutive sessions, recording a net selling of nearly VNĐ2.9 trillion on HoSE and VNĐ51.1 billion on HNX. 

Bizhub