The HoSE index hit 1,300 points in the morning session of September 27, then failed to maintain this level when selling pressure increased sharply.
Increased liquidity, along with the rise of pillar stocks, helped investors believe that the market could surpass the resistance level of 1,300 points. VN-Index started the weekend session in a positive state, with green dominating the board.
The HoSE index surpassed the reference after the opening price determination session (ATO), continuing to expand the increase a few minutes later. By mid-morning, the VN-Index officially returned to the 1,300-point threshold. The increase in banking stocks - the group with the highest proportion in the capitalization basket - helped the market bounce back to accelerate rapidly.
However, the peak only lasted for a few minutes. VN-Index quickly narrowed its upward momentum as selling pressure increased. In less than 30 minutes, the index fell back to near the reference level. Cash flow tried to pull the market up, but hesitation in observing caused the HoSE index to reach 1,296 points and then adjust.
In the afternoon session, red dominated. Selling pressure at the resistance zone caused many stocks to fall below the reference level. The increase of the banking group, the pillar group that pulled the market in recent sessions, also narrowed. The VN-Index closed at 1,290.92 points, down slightly by 0.57 points compared to the previous session.
VN30-Index maintained an increase of nearly 2 points (0.13%) to 1,352.57 points. On the Hanoi Stock Exchange, HNX-Index and UPCOM-Index closed with low fluctuations.
Total market liquidity reached over VND24,000 billion. Of which, liquidity on the HoSE accounted for nearly VND21,600 billion, a slight increase compared to yesterday's session. Foreign investors net bought nearly VND250 billion, for the third consecutive session.
At the end of the session, red was somewhat dominant, with the HoSE floor having 228 stocks decreasing in price compared to 148 stocks increasing.
Investors' cash flow is still focused on three main sectors: banking, real estate and financial services.
CTG was the stock that contributed the most to the VN-Index with 0.8 points when this code increased by 1.65%, to 37,000 VND. In contrast, VHM was the stock that weighed down the index the most when it closed down more than 2.2%.
In VN30, banks are still the most active group. In addition to CTG, STB, SHB all increased by more than 2% in the market correction session. TPB added 1.5%, VPB, BID, TCB closed above reference.
On the contrary, PLX, MWG, GVR decreased by more than 1%, GAS, VIC, BCM, FPT and some banking codes also fell below the reference. In the remaining sectors, real estate, oil and gas, retail, telecommunications or chemical stocks mostly closed in red.
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