Shares traded lower on Thursday morning as selling pressure continued to press on blue chips, especially in the banking and finance sectors.

The benchmark VN Index on HCM Stock Exchange went down 1.36 per cent to stand at 1.066,07 points. The southern market index had gained 0.37 per cent to close at 1,080.74 points on Tuesday.

The stock market was shut on Wednesday on the occasion of the death anniversary of the Hùng kings - the 10th day of the third lunar month, which fell on April 25 this year.

On Ha Noi Stock Exchange, the HNX Index dived 1.83 per cent to 123,99 points after gaining 0.13 per cent on Tuesday.

Bank and securities stocks were under the heaviest selling pressure.

Most of the large banks and securities companies on the two exchanges suffered losses in the morning trade, including Vietinbank (CTG), Vietcombank (VCB), Military Bank (MBB), Asia Commercial Bank (ACB), Saigon Securities Inc (SSI), VNDirect Securities (VND), MB Securities (MBS) and Bao Viet Securities (BVS).

Their losses ranged from 1.2 to five per cent.

However, the growth of some large-cap stocks cushioned the market fall. The largest supporters included brewer Sabeco (SAB), dairy firm Vinamilk (VNM) and steel maker Nam Kim JSC (NKG).

The overall market condition was negative though, with 292 declining stocks, 130 gaining stocks and 320 stocks remaining unchanged on the two bourses.

A total of 116 million shares, worth VND3.1 trillion (US$139 million), were traded on the two exchanges.

The afternoon trading session starts at 1pm. — VNS