A banking teller talks to a customer at a Vietcombank transaction office in Hà Nội. Shares of the lenders dipped more than 1 per cent on Tuesday, weighing on the market's sentiment. — VNA/VNS Photo

HÀ NỘI — The VN-Index slipped on Tuesday as nearly 250 stocks closed below their reference prices, reflecting widespread selling by investors despite support from key large-cap stocks.

The market's benchmark index fell by 7.62 points, or 0.46 per cent, to 1,660.36 points. Following a strong rally on Monday, many securities firms had forecast that the market could continue its upward trend and approach the resistance level of 1,670 points.

Market breadth on the Hochiminh Stock Exchange leaned heavily towards the sell side, with 248 stocks declining, three times the number that rose.

Despite the dip, overall liquidity improved markedly compared with previous sessions, with total trading value on HoSE reaching nearly VNĐ27 trillion, surpassing the US$1 billion mark.

The VN30-Index, representing large-cap stocks, also declined, reflecting the overall bearish sentiment. The index closed at 1,909.6 points, down 6.76 points, or 0.35 per cent.

Capital inflows continued to focus primarily on large-cap stocks, highlighting investor preference for this segment. In the VN30 basket, only five ticker symbols advanced, 24 declined and one ended flat.

Among the VN30 stocks, VJC of Vietjet Aviation hit its ceiling price, while HDBank (HDB) posted a notable gain of 2.25 per cent. Vin stocks collectively cushioned the VN-Index’s losses, contributing over three points.

Conversely, major banking stocks including VPBank (VPB), Vietcombank (VCB), BIDV (BID) and Techcombank (TCB) weighed on the index. The securities sector experienced significant selling pressure, with leading stocks such as SSI Securities (SSI), Vietcap (VCI), VIX Securities (VIX) and VNDirect Securities (VND) all dropping by more than 2 per cent.

On the Hanoi Stock Exchange, the HNX-Index continued its downward trend, closing at 257.3 points, down 3.92 points, or 1.5 per cent.

Foreign investors extended their net selling streak to a third consecutive session, offloading nearly VNĐ356.3 trillion worth of shares on HoSE.

The stock market is signalling a healthy correction after the recent recovery phase. According to ASEAN Securities, investors holding stocks may consider maintaining their positions, particularly those with a secure cost basis and short-term upward trends on the charts.

For investors with significant cash positions, trading fluctuations may present entry opportunities, though caution is advised to avoid chasing sharply spiking prices and reduce the risk of short-term reversals.— BIZHUB/VNS