VN-Index reverses course, but stays above 1,300 points

Thursday, May 27, 2021 12:11

Shares were mixed on Thursday morning as the VN-Index fell on selling pressure, while the HNX-Index edged higher.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) declined 6.14 points, or 0.47 per cent, to 1,310.56 points. The index tumbled for the first time after climbing for six consecutive sessions.

The market breadth was negative as 128 stocks increased, while 280 stocks dropped. However, the liquidity was still high with over 481.7 million shares traded on the market, worth nearly VND14.7 trillion.

The losses in large-cap stocks were the main reason for the downturn. The VN30-Index, which tracks 30 biggest stocks in market capitalisation on HoSE, settled 0.79 per cent down in the morning trade to 1,443.58 points.

Twenty of the 30 biggest stocks in the VN30 basket slid while only nine stocks jumped and one stock stayed unchanged.

Some big stocks in real estate and banking sectors were leading the market's trend with Vingroup JSC (VIC) posting the biggest lost in the morning session, down 1.4 per cent.

It was followed by Vietcombank (VCB) and PetroVietnam Gas Joint Stock Corporation (GAS). These stocks all lost more than 1 per cent.

The index pared some losses thanks to gains in some pillar stocks. Vietnam Rubber Group JSC (GVR) was the biggest gainer, up 2.73 per cent. Other stocks like EXIMBANK (EIB), Vinhomes JSC (VHM) and No Va Land Investment Group Corporation (Novaland, NVL) also supported the market.

On the Ha Noi Stock Exchange (HNX), the HNX-Index inched higher on the back of large-cap stocks. The index gained 0.22 per cent to 305.52 points, boosted by an increase of 0.02 per cent in the HNX30-Index. VNS

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