The Market Saturated in Red, Yet Certain Banking Stocks Defied the Trend, Surging in Green.

 A series of securities and real estate stocks were sold off strongly with the focus being VIC, VHM and NVL. However, banking industry stocks increased sharply.

VN-Index closed down 14.6 points to below the 1,225 mark. HNX-Index decreased 1.66% to 251.86 points. The red color covers all 3 exchanges, there are 750 codes decreasing compared to about 240 codes increasing.


Among the three major industry groups of the market (real estate, banking, securities), real estate stocks are the most negatively traded group. The whole industry had 78 codes decreasing, while only 9 codes increased. 


In particular, the pair of Vingroup stocks dropped sharply, when VIC dropped 6.2% and VHM dropped 5.9%, causing VN-Index to lose 6.9 points. Along with that, NVL decreased by 6.3%, KHG decreased by 5.3%, CEO decreased by 4.9%, LDG decreased by 4.3%, IDJ decreased by 5.3%... with high liquidity.


Many banks have announced plans to pay dividends to investors


Notably, HPX (Hai Phat) shares continued to stay on the floor for the 4th consecutive session with a trading volume of up to 83 million units. The reason comes from securities companies selling mortgages after this stock received a decision to suspend trading from September 18 due to continuous violations of information disclosure obligations.


Also on the list of real estate stocks, QCG shares of Quoc Cuong Gia Lai Joint Stock Company were put on the list by HOSE not allowed for margin trading.


The reason given by HOSE is that the after-tax profit of the parent company's shareholders on the 2023 semi-annual reviewed consolidated financial statements is negative.


On the contrary, many banking stocks were in green, such as VIB increased by 3%, CTG increased by 2%, MSB increased by 1.37%... helping the market "brake" to reduce the decline.


It is known that many banks have announced plans to pay dividends to investors, most of which are paid in stocks. It is estimated that a total of more than 2 billion banking industry stocks are about to hit the market. Perhaps, this is the reason why this series of stocks in this industry group is sublimating.


Commenting on the market during the September 15 session, experts assessed that, technically speaking, the market was still in a shaking rhythm as it approached the old peak of 1,250 points. This is the second shaking rhythm after VN-Index approached the resistance threshold of 1,250 points.


According to SHS experts, from a short-term perspective, VN-Index has dropped to the closing price range in the first down session of the week (1,223 points) and may retest the near support zone around 1,211 points before recovering. return.


 In a worse scenario, the index's support zone will be around 1,200 points. "The market shaking and adjusting at the current stage is a normal state of movement to create an accumulation area before the next positive developments in the near future" - SHS expert said.


Rong Viet Securities Company (VDSC) also commented that the market continues to be under pressure from stock supply and must accept a step back. Liquidity decreased compared to the previous session but was still high. This shows that investors are aggressively selling stocks. It is possible that in the next session, the VN-Index will retreat to test the support area of 1,210 - 1,215 points.

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