Shares lose ground due to pillars, oil stocks

A motorbike is filled at a petrol station under the Viet Nam National Petroleum Group (PLX), in the southern province of Ninh Thuan. — VNA/VNS Photo Cong Thu

Shares lost ground on Friday due to the sharp fall of pillar stocks and the oil and gas stock group.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) declined 0.85 per cent to close at 1,466.54 points. The index had gained 0.36 per cent to close Thursday at 1,479.08 points.

The market’s breadth remained positive with 295 gainers and 164 losers.

Liquidity increased compared to Thursday's session with over 878 million shares traded on the southern bourse, worth nearly VND28 trillion (US$1.2 billion).

The benchmark lost ground as some pillar stocks made strong decreases. The VN30-index lost 0.88 per cent, to 1,477.14 points.

Eight of HoSE’s 30 biggest stocks in market capitalisation in the VN30 basket increased, while 22 stocks declined.

The VN-Index's loss was broadened due to the fall of blue-chips. The largest company by market capitalisation Vingroup (VIC) dropped 0.1 per cent. Its two arms Vinhomes (VHM) and Vincom Retail (VRE) declined 0.3 per cent and 0.5 per cent respectively.

Energy stocks suffered selling pressure with losers such as Viet Nam National Petroleum Group (PLX), PVPower (POW), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroVietnam Gas JSC (GAS).

The banking group differentiated gainers including Vietinbank (CTG), Sacombank (STB), Vietcombank (VCB), Military Bank (MBB), Bank for Investment and Development of Viet Nam (BID). Losers, however, were Tien Phong Bank (TPB), Techcombank (TCB), Eximbank (EIB) and VPBank (VPB).

Fertiliser stocks recorded gains with gainers being Lam Thao Fertilisers And Chemicals JSC (LAS) up 1.3 per cent, and Petro Viet Nam Ca Mau Fertiliser JSC (DCM) up 3.7 per cent.

Twenty-one out of 25 sector indices on the stock market made losses, including real estate, securities, wholesale, retail, food and beverage, construction, seafood processing, insurance and logistics.

The HNX-Index on the Ha Noi Stock Exchange (HNX) finished lower, with a drop of 1.22 per cent, to 442.20 points.

The index had risen 0.68 per cent, to close Thursday at 447.64 points.

More than VND4 trillion worth of shares were traded on the northern market, equivalent to a trading volume of nearly 169 million shares. — VNS