Bank Stock Crash: BID Hits Bottom, CTG, TCB, EIB Plunge Near Limit

Bank stocks suddenly plummeted on April 15. Foreign investors net sold many banking codes.

Trading session on April 15, many investors were "shocked" by the sudden reversal of the Vietnamese stock market. The sell-off wave occurred in the last few dozen minutes of trading of the session when a series of industry groups plunged. Closing, VNIndex remained at 1,216.61 points, down 59.99 points (-4.7%). HNX decreased 11.63 points (-4.82%) to 229.71 points. UPCoM decreased 2.23 points to 88.98 points.

The group of banking stocks that were trading in light green this morning also suddenly turned and plummeted in the last minutes.

A series of banking stocks fell to the floor during the session such as BID of BIDV, CTG of VietinBank, LPB of LPBank, VAB of VietABank. Many stocks closed with a decrease of more than 6% including: TCB (-6.33%), EIB (-6.34%), TPB (-6.42%), CTG (-6.82%), BID (-6.93%), VAB (-7.37%).

The largest market capitalization stock, Vietcombank's VCB, also "evaporated" sharply, down 2.75% in today's session.

The only code in the banking group that closed in green was SHB. However, SHB also turned down sharply compared to the ceiling increase this morning. SHB liquidity increased sharply with 99 million shares matched, worth more than 1,100 billion VND. SHB was also actively traded by foreign investors, buying more than 9.4 million units while selling more than 6.7 million units, equivalent to a net purchase of nearly 3 million shares.

Except for SHB, which was a net purchase, foreign investors mainly net sold other banking stocks in the April 15 session. In which, CTG was sold the most with a value of 234 billion VND, followed by VCB (89 billion VND), TPB (84 billion VND),...

The industry's matching liquidity on April 15 session increased sharply and reached more than 7,500 billion VND. Among them, three codes with a transaction value of over 1,000 billion are SHB, MBB, and CTG.

Most of the real estate, banking, securities, steel, oil and gas, and fertilizer stock groups were all in the red with a relatively strong decrease amplitude, a series of codes even fell to the floor with many "white" codes on the side. buy". In total, the whole market recorded 886 stocks falling, of which 157 stocks fell to the floor.

The sharp drop also blew away more than 244,000 billion VND (~ 10 billion USD) of HoSE's capitalization. As of April 15, HoSE's capitalization value was only over 4.9 million billion VND. The decrease of nearly 5% also made Vietnamese stocks one of the strongest falling markets in the world on the first day of the week.

The sharp decline occurred after the market had just had a sideways accumulation period with liquidity disappearing. The lack of foreign capital flow causes the general market to lose support. Recorded in the April 15 session, foreign investors net sold nearly 1,300 billion VND on HoSE, bringing the total net selling value from the beginning of the year to

In terms of contribution, the two bluechips of the banking group, BID and VCB, became the biggest "criminals" causing the VN-Index to drop a total of nearly 9 points, of which BID fell to the floor by 6.9% to 49,700 VND/year. shares while VCB lost 2.7% to a price of 92,000 VND/share.

Not stopping yet, the banking group continues to be a strong factor weighing on the market as CTG took away 3.2 points from the VN-Index with a decrease of up to 6.8% in today's session, while TCB decreased by 6.3%. and caused Index to lose 2.6 points. VHM and GVR also took away about 4 points from the main index of the Vietnamese stock market. The two leading giants in this industry today also ended with a sharp decrease, GVR fell to the floor and VHM also fell 4.7%.

The fact that the stocks with the largest market capitalization in the stock market at the present time all decreased sharply in amplitude shows the negative level of today's trading session. The top 15 stocks that had a negative impact on the VN-Index in this sharp decline session also included stocks such as VPB, HPG, MSN, GAS, VIC,...

On the contrary, the green color in some stocks such as SHB, QCG, BHN, TMS... helped the market have support. However, the increase was nothing compared to the sharp decline of the remaining stock groups.

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