VN-Index finishes lower as selling pressure weighs

Friday, Mar 05, 2021 07:14

Pomina's steel production plant. Pomina shares rose more than 6 per cent on Thursday despite a drop of the VN-Index. — Photo

Viet Nam's stock market ended mixed on Thursday as the VN-Index continued its downward trend in the afternoon session while the HNX-Index reversed its morning course.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) finished at 1,168.52 points, down 1.55 per cent. The index posted a loss of 26.52 points, equivalent to 2.23 per cent, in the morning session.

Today's result ended the index's current movements that fell in the morning but still finished higher at the end of the session.

The market breadth stayed negative till the end of the session with 362 stocks falling, while 95 stocks climbed. And the market's liquidity was high as VND16.8 billion was poured into the southern bourse, equivalent to a trading volume of over 673.4 million shares.

Rising selling pressure and trading issues made many big stocks across all sectors fall sharply today, with the VN30-Index, which tracks the performance of the 30 biggest stocks on HoSE, down 1.78 per cent to 1,174.29 points.

Besides Vingroup JSC (VIC) ending flat, the rest of the VN30 basket posted poor performance. In the morning session, VIC was the only stock in the basket to witness a gain.

Top five stocks dominating the market's trend were in real estate, banking and materials sectors, including Vinhome JSC (VHM), down 1.48 per cent, Techcombank (TCB), down 3.22 per cent, JSC Bank For Investment And Development of Viet Nam (BID), down 2.4 per cent, Vietcombank (VCB), down 1.12 per cent and Vietnam Rubber Group - JSC (GVR), down 2.87 per cent.

Meanwhile, gains in stocks from materials, gas and oil, and fertiliser sectors helped limit the losses. Pomina Steel Corporation (POM) climbed 6.02 per cent, PetroVietnam Drilling & Well Services Corporation (PVD) rose 2.76 per cent, Duc Giang Chemicals Group JSC (DGC) rose 2.61 per cent, and Petro Viet Nam Ca Mau Fertiliser JSC (DCM) rose 2.51 per cent.

On the Ha Noi Stock Exchange (HNX), the HNX-Index reversed the morning's course, up 0.66 per cent to 255.77 points. Finishing the morning session, the HNX-Index dropped 0.48 per cent. The HNX30-Index also climbed 0.22 per cent to 376.42 points.

Nearly 176.1 million shares were traded on the northern market during the session, worth over VND2.79 trillion.

Foreign investors continue to net sell on HoSE and HNX. While the investors withdrew VND229.65 billion out of the southern market, they net sold a net value of VND13.51 billion on HNX. — VNS

Comments (0)