VN-Index loses nearly 11 per cent in October

Wednesday, Nov 01, 2023 06:56

A worker of Vietnam Rubber Group collecting latex in a rubber plantation in Đắk Nông Province. The company's shares plummeted more than 6.1 per cent on Tuesday, weighing on the market's sentiment. — VNA/VNS Photo

The market settled lower on Tuesday and logged a monthly fall in October as persistent selling force continued to weigh on investor sentiment.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) extended losses to close the trading session at 1,028.19 points, down 14.21 points, or 1.36 per cent.

The benchmark experienced a bumpy road in October after strong gains in the first eight months of the year. It had risen for six straight days in the second week of the month before correcting sharply and erasing all the rallies set earlier.

For the month, the VN-Index plunged 10.9 per cent, the biggest loss since September 2022.

On Tuesday, the market's breadth remained negative on the southern bourse as 285 stocks declined while 51 inched higher. Liquidity, however, improved from the previous session, with the trading value reaching nearly VNĐ15 trillion.

The VN30-Index, tracking the 30 biggest stocks on HoSE, dropped 8.25 points, or 0.79 per cent, to 1,039.38 points. Sixteen stocks in the VN30 basket fell, while ten ticked up and four ended flat.

Data compiled by a financial website showed that manufacturing stocks led the downtrend today, with Sabeco (SAB) reporting the greatest loss of 6.74 per cent, followed by Vietnam Rubber Group (GVR), down 6.11 per cent.

Stocks in banking, retail and real estate sectors also influenced the bearish sentiment, such as BIDV (BID) down 1.95 per cent, Mobile World Investment Corporation (MWG) tumbling 7 per cent and Vingroup (VIC) sliding 2.41 per cent.

However, losses were capped by gains in some large-cap stocks, led by Vietcombank (VCB). Shares of the lender climbed 1.05 per cent yesterday.

On the Hà Nội Stock Exchange (HoSE), the HNX-Index also fell further to 206.17 points, down 5.17 points, or 2.45 per cent.

During the session, investors poured more than VNĐ1.9 trillion into the northern bourse, equivalent to a trading volume of nearly 110.5 million shares.

The market was also supported by the return of foreign capital as foreign investors snapped five straight days of net selling. They net bought a value of nearly VNĐ306.6 billion on HoSE and VNĐ66.21 billion on HNX. — VNS

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