Shares struggle to stay positive, VN-Index surpassing 1,130 points
HÀ NỘI — Vietnamese shares struggled to stem a bearish mood on Wednesday with the VN-Index surpassing the 一, 一 三0 points but selling pressure still weighed on the overall market.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0. 三 三 per cent to end the trading session at 一, 一 三 四. 六 八 points.
More than 八 三 九. 三 million shares were traded on the southern bourse, worth VNĐ 一 七. 八 trillion (US$ 七 七 二 million).
Market breadth was negative with 二0 九 gainers and 二 三 五 decliners.
“The VN-Index fluctuated quite strongly in the morning session, it sometimes fell below 一, 一00- 一, 一 一0 points. However, buying forces at low price ranges helped the index gain again in the afternoon,” said news site vietstock.vn
The large-cap tracker VN 三0-Index was up 0. 八0 per cent to 一, 一 一 六. 二 一 points.
Twenty-one of the 三0 large-cap stocks in the VN 三0 basket increased while six declined.
Novaland was the strongest gainer with a gain of nearly 四 per cent. Khand Điền House (KDH), FLC Faros Construction (ROS), Mobile World Group (MWG) and FPT Corporation (FPT) were the followers that advanced 二 per cent.
Blue-chips like Phú Nhuận Jewelry (PNJ), PetroVietnam Gas JSC (GAS), Techcombank (TCB), Vietjet (VJC), Vinamilk (VNM) and PVPower (POW) all climbed more than 一 per cent.
On the other side, Hoàng Huy Investment Financial Services JSC (TCH) and Thành Thành Công - Biên Hoà Joint Stock Company (SBT) were the two biggest losers with a drop of more than 二 per cent. SSI Securities Inc (SSI), Vincom Retail (VRE) and Sacombank (STB) both fell more than 一 per cent and Vietinbank (CTG) were among the other losers.
“In the morning session, the VN-Index fluctuated significantly, but the market gradually stabilised in the afternoon session with a narrower range,” said BIDV Securities Co.
“Foreign investors continued to be net buyers on both exchanges, HoSE and HNX. However, market breadth was in a negative sideways state with lower liquidity compared to the previous session. According to our assessment, VN-Index may still have strong volatility sessions due to psychological factors and arbitrage transactions in the maturity week of derivative contracts,” it said.
Fifteen out of 二 五 sector indices on the stock market gained ground, including food and beverage, wholesale, real estate, construction materials, construction, retail, energy, IT, banking and logistics.
On the opposite side, losers were securities, insurance, healthcare, agriculture, seafood processing and rubber production.
On the Hà Nội Stock Exchange, the HNX-Index rose 四. 一 二 per cent to close Wednesday at 二 三 三. 二 六 points.
More than 一 七 三 million shares were traded on the northern market, worth VNĐ 二. 二 trillion. — VNS
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