Market plunges to 710 points
HCMC – Stocks were strong in the morning phase after three consecutive losing sessions on April 17, but large caps then dropped sharply given strong selling pressure, forcing the VN-Index down 7.62 points, or 1.06%, at 710.83.
The HCMC market saw 182 falling stocks while 82 others managed to increase. Turnover slightly improved compared to last Friday with 168.6 million shares worth VND4.1 trillion changing hands, including bloc deals worth VND505.8 billion.
Among blue chips, only VNM, SAB, GAS and DPM managed gains, in which SAB closed at the intraday high at VND207,000 a share, up 1.47% against the previous session; VNM inched up 0.2% at VND142,000 per share while GAS and DPM slightly advanced.
On the other hand, most large caps tumbled, with DXG, OGC and POM plunging to the floor prices. DXG closed the day at VND20,500 per share on matching volume of nearly 5.3 million shares and OGC fell to VND1,130 with 8.7 million shares exchanged.
Other stocks also reported heavy losses, in which ROS lost 4% at VND166,100 per share on volume of 7.5 million shares, CII declined 3.5% at VND35,100 per share with 1.6 million shares traded and REE hit the intraday low at around VND25,300 a share. In the banking sector, VCB fell 2.3% at VND35,500 a share, while CTG, BID and STB slid by between 2.8% and 3.8% each.
Among speculative stocks, FLC, ITA, SCR, FIT and DLG closed in the red. FLC led the market for liquidity with over 16 million shares traded.
Meanwhile, QCG went up to the ceiling price of around VND7,000 a share on matching volume of nearly 700,000 shares. DHM, TMT, LGL and KAC also closed at the upper limits, in which DHM was the most actively traded stock with over 1.7 million shares changing hands.
HSG fell a massive 3.3% at VND47,600 last Friday as the Prime Minister had ordered to suspend its Ca Na steel project, but it announced positive business results in the first quarter with after-tax profit soaring 90% year-on-year to over VND1.9 trillion. HSG closed the session down 1.3% at VND30,500 per share on matching volume of nearly 4.5 million shares.
The Hanoi market took a nosedive as decliners far outnumbered advancers by 103 to 58, with the HNX-Index losing 1.34 points, or 1.49%, at 88.3. The exchange saw total turnover of VND821 billion on volume of 66.8 million shares.
Most large caps retreated in the afternoon phase, except for HKB that still closed the day at the ceiling. SHB fell 5.2% at VND7,200 a share with 20.6 million shares exchanged while ACB and VCG lost 1.7% to 1.9% respectively.