Market losses capped by bottom-fishing

Tuesday, Apr 26, 2022 12:30

Benchmark indices extended the downtrend on Tuesday morning, but losses were limited by bottom-fishing activities.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 3.8 points, or 0.29 per cent, to 1,307.12 points. It plummeted 68 points yesterday on a strong sell-off.

The market's breadth was still negative with 256 stocks declining, while 169 stocks increased. Liquidity, however, rose sharply this morning as over VND13.17 trillion (US$573,3 million) was poured into the southern market, equivalent to a trading volume of 458.9 million shares.

Foreign investors net bought VND680 billion worth of shares on the HoSE.

Persistent selling pressure still weighed on the market's sentiment, and yesterday's big falls triggered some bottom-fishing activities, cushioning losses.

The VN30-Index recovered, up 1.08 points, or 0.08 per cent, to 1,367.47 points. Of the VN30 basket, 12 stocks climbed, while 15 slid and three stayed unchanged.

Vinhomes (VHM) led the bearish trend this morning with a decrease of nearly 3.5 per cent, followed by Vietcombank (VCB) and Masan Group (MSN), down 2.32 per cent and 1.81 per cent, respectively.

On the contrary, BIDV was the biggest gainer, up 2.37 per cent after hitting the floor price in the previous session. Sabeco (SAB) and Vingroup (VIC) also rebounded, up at least 1.3 per cent.

The HNX-Index on the Ha Noi Stock Exchange (HNX) still fell by 2.55 points, or 0.76 per cent, to 334.96 per cent. VNS

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