Shares struggle to stay positive, real estate stocks spur market

Saturday, Sep 12, 2020 08:16

Logo of Dat Xanh Group (DXG) seen at its headquarters in HCM City. DXG rose 0.5 per cent on Friday. — Photo

Shares struggled to stay positive on Friday with the large-caps experiencing strong volatility but cash flow pouring into industrial real estate stocks still spurred the market’s uptrend.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged up 0.02 per cent to close Friday at 888.97 points.

It had edged down 0.06 per cent to close Thursday at 888.82 points.

More than 309.9 million shares were traded on the southern exchange, worth VND5.5 trillion (US$237.9 million).

Market breadth was neutral with 196 gainers and 197 decliners.

According to BIDV Securities Co, market liquidity declined compared to the previous trading session, which showed that investors remained cautious as the VN-Index is approaching the 900-point mark.

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, lost 0.04 per cent to close Friday at 825.56 points.

Cash flow tended run into industrial real estate stocks and construction stocks such as Investment and Construction Development Joint Stock Corporation (DIG), Dat Xanh Group (DXG), Hoa Binh Construction and Real Estate Corporation (HBC), Ha Do Group JSC (HDG), Tu Liem Urban Development (NTL) and Phat Dat Real Estate Development Corporation (PDR).

The market’s large-caps witnessed struggles with differentiation in pillar codes.

Best performing blue-chips included Vietinbank (CTG), HDBank (HDB), Millitary Bank (MBB), Masan Group (MSN), Novaland (NVL) and VPBank (VPB).

On the other side, many pillar stocks lost momentum and put great pressure on the market such as Vinamilk (VNM), Vietjet (VJC), Vinhomes (VHM), Techcombank (TCB), SSI Securities Incorporation (SSI), Sabeco (SAB), Phu Nhuan Jewelry (PNJ), PVPower (POW), Mobile World Group (MWG), PetroVietnam Gas JSC (GAS) and Hoa Phat Group (HPG).

On a sector basis, 12 out of 25 sectors indices gained ground on Friday, including wholesale, real estate, information and technology, healthcare, banking, rubber production, seafood production and logistics.

On the opposite side, decliners were retail, insurance, securities, mining, agriculture, food and beverage, construction and construction materials.

The minor HNX-Index on the Ha Noi Stock Exchange rose 0.31 per cent to end Friday at 126.21 points.

It had lost 0.09 per cent to end Thursday at 125.82 points.

More than 49.8 million shares were traded on the northern exchange, worth VND515.4 billion.

Foreign investors net sold VND313.52 billion on HOSE. They were net buyers on the HNX with the value of VND21.58 billion. — VNS

Comments (0)