Market drops on thin turnover
HCMC – A pickup in selling drove the local stock market down for the third straight session on March 13, with the VN-Index dropping 2.04 points, or 0.29%, against last Friday to close at 710.17.
According to Dau Tu Chung Khoan news site, the index plunged to below 710 points in the morning phase before bouncing back in the afternoon thanks to blue chips NVL, ROS, REE, MBB and MWG. NVL closed the day at the ceiling of VND72,700 a share on high demand.
Turnover on the HCMC exchange dipped to a two-week low with 146.5 million shares worth VND3.4 trillion changing hands. The put-through market contributed 17.8 million shares with a total value of VND649.4 billion, chiefly from transactions of VNM, NVL and TLG.
ROS failed to maintain its intraday high but it closed up 1.23% at VND173,300 a share on volume of 3.8 million shares. In the real estate and property sector, HBC, TDH and VPH advanced while VIC ended at the reference price and DXG, NLG, LDG and DRH decreased.
Banking stocks also reported poor performance as most lenders retreated, except for MBB and STB. Among large caps, SAB lost nearly 2% at VND207,000 each, BHN dropped 1.2% at VND97,000 per share while VNM, GAS and MSN made a slight decline.
Among medium and small caps, FLC saw its trading volume tumble with only 16 million shares exchanged, losing a hefty 3.4% from the previous session at nearly VND7,700 per share. HQC, HAG, ITA and FIT also closed down.
On the Hanoi exchange, the HNX-Index fell a massive 1.12 points, or 1.27%, to 87.02 as decliners far outnumbered advancers by 114 to 63. Turnover declined strongly with 45.2 million shares worth more than VND511 billion traded, including only 2.4 million shares worth VND41.7 billion made in bloc deals.
High selling pressure pushed ACB down to the intraday low at VND22,900 per share on matching volume of 3.15 million shares, making the most negative contribution to the northern index. SHB also lost 1.96% at VND5,000 each with over four million shares changing hands.
KLF took the lead for liquidity, losing 3.6% against last Friday at VND2,700 on volume of 5.28 million shares. Meanwhile, HKB shot up to the upper limit with over three million shares traded.
Foreigners shifted to the buying side on the southern bourse, net purchasing 1.79 million shares with a value of VND262 billion. On the northern exchange, they net bought a slight VND7.9 billion, focusing on PVS, DBC and DNP.