Shares volatile as large caps differentiate

Wednesday, Aug 12, 2020 07:07

A view of Vincom Mega Mall Times City, operated by Vincom Retail (VRE) in Ha Noi. VRE lost 1.31 per cent on Tuesday. — Photo

Shares failed to maintain their rally on Tuesday with the market experiencing strong volatility with big variation in large-caps' prices.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) edged down 0.01 per cent to end Tuesday’s session at 843.08 points.

The index had risen 0.21 per cent to end Monday's session at 843.20 points.

Market liquidity stayed low with more than 249 million shares traded on the southern exchange, worth VND4.2 trillion (US$182 million).

Market breadth was negative with 154 gainers and 222 decliners.

The blue-chip index VN30, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 0.03 per cent to end Tuesday at 784.57 points.

Sixteen of the 30 largest stocks by market capitalisation and trading liquidity in the large-cap basket decreased while 13 increased.

Shares failed to maintain their rally and witnessed struggles with differentiation in pillar codes.

The banking group rallied and supported the market with gainers including Vietcombank (VCB), Techcombank (TCB), Vietinbank (CTG), HDBank (HDB), VPBank (VPB) and Bank for Investment and Development of Viet Nam (BID).

On the other side, many other blue-chips suffered selling pressure and slumped, including PetroVietnam Gas JSC (GAS), Hoa Phat Group (HPG), FPT Corporation (FPT), Sabeco (SAB), PV Power (POW), Vinhomes (VHM), Vietjet (VJC), Novaland (NVL) and Vincom Retail (VRE).

Insurance, real estate, information and technology and construction materials were among the declining indices on Tuesday.

Securities, retail, healthcare, oil and gas, banking, rubber production, food and beverage, seafood production, logistics and construction gained ground.

According to BIDV Securities Co, investors are hesitant when the VN-Index approaches 840-850 point range.

It was likely the VN-Index would correct slightly or accumulate in the coming sessions, waiting for further news about the COVID-19 pandemic, the company said.

On the Ha Noi Stock Exchange, the HNX-Index went up 2.34 per cent to end Tuesday at 116.30 points.

The index went up 0.77 per cent to end Monday at 113.64 points.

More than 59 million shares were traded on the two exchanges, worth VND843 trillion.

Foreign investors net sold VND188.59 billion on HOSE. They were net sellers on the HNX with a value of VND2.35 billion. — VNS

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