Indices struggle on rising selling force

Tuesday, Sep 13, 2022 06:53

A store of Mobile World Investment Corporation. The company's shares surged by 2.78 per cent yesterday, leading the market's bullish trend and cushioning rising selling pressure. — Photo

Benchmark indices moved in different ways on Monday as selling pressure weighed on the market’s sentiment.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) finished higher, up 0.84 points, or 0.07 per cent, to 1,249.62 points. Rising selling force in the afternoon trade pared the index’s morning rally.

The market’s breadth was positive, while liquidity was lower than in the previous session. During the trading day, investors poured nearly VND10.75 trillion (US$457 million), equivalent to a trading volume of nearly 410.2 million shares.

However, the 30 biggest stocks tracker VN30-Index posted a small loss, down 0.04 points to 1,275.6 points. Of the VN30 basket, 11 stocks increased, while 17 decreased and two ended flat.

On the Ha Noi Stock Exchange (HNX), the northern market’s benchmark HNX-Index fell 1.55 points, or 0.54 per cent, to 283.08 points.

Accordingly, nearly 59 million stocks were traded on the northern bourse, worth over US$1.4 trillion.

Leading the market’s up trend, Vinhomes (VHM) saw a big gain of 2.5 per cent. It was followed by Mobile World Investment Corporation (MWG), Vincom Retail (VRE), Vietcombank (VCB), Vietinbank (CTG), Duc Giang Chemicals Group (DGC), and Digiworld (DGW). These stocks rose in a range of 0.38-5.71 per cent.

Oil stocks also provided some support for the rally trend, such as PV Drilling (PVD) up 2.93 per cent.

However, gains were capped by losses in many large-cap stocks due to some sell-off activities.

In the top five stocks influencing the downside, Masan Group (MSN) lost the most, down 0.95 per cent. Other stocks included Novaland (VNL), Vingroup (VIC), Vietnam Rubber Group (GVR) and Vinamilk (VNM).

The odd-lot trading was officially launched yesterday and was welcomed by investors, especially new and retail investors with a small budget for investments, according to experts. With this function, investors can place orders with volumes from 1-99 stocks.

Meanwhile, foreign investors were net buyers on both main exchanges. Of which they invested VND177.36 billion on HoSE, while poured VND11.3 billion on HNX. — VNS

Comments (0)