Shares manage to gain but market encounters significant volatility

Wednesday, Nov 22, 2023 16:02

Headquarters of FPT Corporation (FPT). FPT rose 1.2 per cent on Wednesday. — Photo FPT

The stock market encountered significant volatility Wednesday, leading to a struggle for shares as prices of large-cap stocks exhibited substantial fluctuations.

On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark VN-Index gained 0.3 per cent to end at 1,113.82 points.

The market's breadth was positive with 263 gainers and 220 losers.

Some 946 million shares were traded on the southern bourse, worth nearly VNĐ20.2 trillion (US$834.8 million).

The VN30-Index, tracking the 30 biggest stocks on HoSE, climbed 0.11 per cent to end at 1,109.80 points. Seventeen out of 30 stocks in the VN30 basket posted gains, while 11 decreased.

In the VN-30 basket, pillar stocks experienced big variation with notable losers including Vingroup (VIC), Vinhomes (VHM), Becamex (BCM), Bank for Investment and Development of Vietnam (BID), HDBank (HDB), Sacombank (STB), Vinamilk (VNM), Mobile World Group (MWG) and Military Bank (MBB). They declined between 0.1 and 2.7 per cent.

On the other side, gainers were Bảo Việt Holdings (BVH), Vietinbank (CTG), FPT Corporation (FPT), Masan Group (MSN), Hòa Phát Group (HPG), SSI Securities Inc (SSI), Techcombank (TCB), Tiên Phong Bank (TPB), Vietcombank (VCB), Vietjet (VJC), and Vietnam National Petroleum Group (PLX).

"Market continues to rally, but in general cash flow is still cautious as the market approaches the MA(200) area, 1,115 points, as indicated by the falling liquidity compared to the previous session," said Việt Dragon Securities Co.

"The current bounce may be technical in nature and the MA(200) area is still pressuring the market. It is expected that the market movement will slow down before the resistance zone and the risk of a pullback is still hidden."

"Therefore, investors need to watch the supply and demand developments in the coming period to assess the market's condition. For now, investors should consider the market rally to take profits and restructure portfolio to minimise risk."

Out of 25 sector indices, 19 on the stock market posted gains, including banking, securities, agriculture, food and beverage, construction materials, construction, real estate, insurance and IT, seafood production, wholesale, and logistics.

On the other side, losers were retail, oil and gas, rubber production and healthcare.

On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 0.3 per cent to end at 230.49 points.

During the session, investors poured over VNĐ1.9 trillion into the market, equivalent to a trading volume of 97.3 million shares. — VNS

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