VN-Index dives below key level of 1,000 points

Tuesday, Oct 25, 2022 08:08

A BIDV employee with a customer at the bank's transaction office. The bank's shares plummeted 7 per cent, the maximum intra-day loss on HoSE. — Photo courtesy of the bank

Indices dropped sharply on Monday due to a strong selling force, showing investors’ pessimistic sentiment about the market’s movements.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index extended last week’s big loss and breached the key psychological level of 1,000 points. Of which, the market benchmark plunged 33.67 points to end the trading day at 986.15 points, a decline of 3.3 per cent.

It had lost over 72 points in just two sessions.

The market’s breadth was negative as many stocks tilted to the downside with 148 stocks on HoSE hitting the floor prices.

Liquidity also decreased over the previous session, with more than 654.9 million shares traded on the southern bourse, worth over VND12 trillion (US$486.1 million).

The VN30-Index, tracking 30 biggest stocks on HoSE, also posted a loss of 36.69 points, or 3.63 per cent, to 973.88 points. In the VN30 basket, only one stock inched up, while up to 27 slid, of which ten registered the biggest daily fall of 7 per cent. And two stocks stayed flat.

The index had fallen for the fourth straight session due to lingering sell-off force.

Statistics from showed that financial and real estate industries were under the greatest selling pressure. Specifically, Vinhomes (VHM) reported the biggest losses, down 7 per cent.

It was followed by BIDV (BID), Sabeco (SAB), Vinamilk (VNM), Techcombank (TCB), and Mobile World Investment Corporation (MWG), which fell in a range of 3.9-7 per cent.

Other stocks adding to the losses were Saigon Securities Inc (SSI), Sacombank (STB), and Vincom Retail (VRE), Vietnam Rubber Group (GVR).

The HNX-Index on the Ha Noi Stock Exchange (HNX) also edged down 7.91 points, or 3.64 per cent, to 209.5 points.

During the session, more than VND1.1 trillion worth of shares, equivalent to a trading volume of over 77.4 million shares, was traded on the northern market.

On the other hand, foreign investors were flocking to the domestic market as they net bought over VND97 billion on both main exchanges. Accordingly, they bought VND73.34 billion on HoSE and VND23.74 billion on HNX. — VNS

Comments (0)