Market falls as many large-cap stocks face sell-off

Tuesday, Mar 16, 2021 12:24

The market was pressured on Tuesday morning as selling pressure persisted on blue-chip stocks.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) fell 0.55 per cent, equivalent to 6.48 points, to close the morning session at 1,178.08 points.

The market's breadth turned negative with 325 stocks declining, while 140 stocks increased.

The losses of large-cap stocks were the main cause. The VN30-Index decreased by 6.63 points, equivalent to 0.56 per cent, to 1,184.23 points. Five of the 30 biggest stocks in the VN30 basket climbed, while 24 stocks dropped and one ended flat.

Stocks from all sectors posted poor performance this morning.

Top three stocks depressing the market were Vietnam Rubber Group JSC (GVR), down 2.64 per cent, Vietnam Dairy Products JSC (Vinamilk, VNM), down 1.47 per cent, and Vingroup JSC (VIC), down 0.85 per cent.

The market's liquidity was still high as over 581.8 million shares were traded on the southern bourse on Tuesday morning, worth nearly VNĐ12.63 trillion.

On the Ha Noi Stock Exchange (HNX), the HNX-Index also lost 0.61 per cent, equivalent to 1.68 points, to 273.51 points. The HNX30-Index dropped 0.69 per cent to 390.07 points. VNS

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