Holding on to holiday money, liquidity remained low, VIC kept the VN-Index in green

The unexpected information about the KRX system missing the appointment date on May 2 has caused significant disappointment to the market. Selling pressure shows signs of increasing in the morning, partly because the market will pause trading for a long time. However, the support ability of bottom-catching demand is still enough to maintain balance, while the prominence of the VIC pillar pulled the VN-Index close to the highest peak of the session, bringing up to 2.3 points in the total. an increase of 4.55 points.

Normally, when the trading circuit is paused for a long time, investors are cautious about unexpected fluctuations. In particular, this holiday is right on the occasion when a series of macro information in the country as well as in the US will appear that can have a strong impact on stock market expectations. Domestic investors trading less or selling more is a normal risk-hedging stance.

This morning, the matched liquidity on both exchanges increased by 25% and right from the beginning of the session there was a sharp decline. The information that the KRX system has not been approved to operate from May 2 caused a group of securities stocks to plummet, leading to many other stocks being sold. At the end of the morning session, the breadth of the VN-Index was only 176 codes increasing/243 codes decreasing.

In the afternoon session, liquidity dropped even lower, trading on both exchanges decreased by 1.2% compared to the morning session, but the market did not create a new deep bottom. On the contrary, the selling force is somewhat lighter, helping the breadth gradually improve, showing that there is a recovery rhythm in the stock. Closing breadth recorded 209 advancers/227 decliners. VN-Index increased by 0.38% compared to the reference.

This afternoon’s developments are a combination of explosive upward momentum in pillar stocks and bottom-fishing demand that raises prices on a large scale. VIC is an outstanding leading code. This stock closed the morning session very well with an increase of 2.74%, but in the afternoon it was even stronger after news of Q1/2024 business results. Even the ATC VIC phase maintained the expected closing price at the ceiling price for a long time, before backing down and increasing by 5.83%. So this afternoon alone, VIC increased by 3.01% compared to the morning, although the liquidity was quite good at only 72.7 billion VND. That is a sign of a clear reduction in selling pressure, because the price has the ability to explode strongly without encountering much selling volume.

Other series of blue-chips participating in leading the VN-Index up this afternoon include HDB, which increased by 4.89% and in the afternoon alone increased by 1.07%; PLX increased 1.71% and afternoon alone increased 1.42%. GVR was also quite strong with an increase of 2.04%, but mainly the strength from the morning when the afternoon only increased by 0.33%. MBB, CTG, HPG, TCB, VPB, VHM… also have a certain contribution when reducing. The most unfortunate thing is that VCB in the ATC phase was forced down again, only increasing by 0.22% even though at the end of the continuous phase it was still up by 1.43%. If VCB joins forces with VIC, the market at the end of the session will explode even more.

However, the market still progressed more positively towards the end of the session. Not only is the breadth balanced again, but the group’s price level is also raised. HoSE ended the session with 79 stocks increasing over 1% (morning session: 58 stocks). This group’s liquidity also accounts for nearly 31% of the total matched value of the exchange. Many of these codes belong to the largest liquidity group in the market such as MWG increased by 2.04% with liquidity of 645.6 billion VND; GMD increased by 3.44% to 476.2 billion; DGC increased by 2.33% with 422.3 billion; SHB increased by 3.15% to 376.4 billion; FRT increased by 5.23% to 333.6 billion; HDB increased by 4.89% with 299.8 billion… Not to mention the majority of this group successfully reversed during the session from decreasing to increasing.

Although the discount group was quite large (227 codes) and there were also 74 codes reduced by more than 1%, the liquidity was only concentrated at about 16.3% of the floor. In addition, there are only nearly 20 stocks with liquidity exceeding 10 billion VND, with the highest concentration being the codes DIG, VIX, MSN, GEX, VND, DXG, KBC – codes matched over 100 billion VND this session.

Foreign investors today bought very well in stocks and still maintained a large net sale in FUEVFVND fund certificates with -143.9 billion VND. If this fund certificate is not included, foreign investors’ net purchase of shares on HoSE is nearly 252 billion VND. Particularly, stocks in the VN30 basket had a net purchase of 342.5 billion, notably MWG +273.9 billion, VCB +68.5 billion, MSN +49.8 billion, VIC +431 billion, VNM +42.9 billion, SSI +36.1 billion… On the selling side, there were only a few significant codes: DIG -59.6 billion, CTG -58.2 billion, VRE -56.7 billion, FTS -30 billion.