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Tuesday,  Oct 17,2017,20:06 (GMT+7)

Sellers drag VN-Index down

Phuong Thao
Thursday,  Sep 21,2017,00:09 (GMT+7)
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Sellers drag VN-Index down

Phuong Thao

HCMC – The local stock market hit the 810-point level in the afternoon but it closed the September 19 session in the red as sellers took the upper hand at the strong resistance.

The VN-Index ended at the intraday low at 805.93, dropping a slight 1.94 points, or 0.24%, against the previous day. Turnover on the HCMC market was equivalent to Monday’s with 172.8 million shares worth VND3.8 trillion exchanged.

Strong profit taking pressure sank most speculative stocks. FLC, a property firm, lost 0.52% at VND7,660 per share on matching volume of 19.1 million shares, with foreigners net selling nearly 2.5 million FLC shares.

Financial investment group FIT also fell 2.6% at VND12,900 per share with nearly 6.4 million shares changing hands. In contrast, TSC, which is active in the agricultural material sector, added 2.4% at around VND5,000 a share after hitting the upper limit on Monday.

Among large caps, construction firm ROS was the top gainer, advancing 0.9% at VND118,900 per share. Meanwhile, dairy giant VNM closed at the intraday low of VND148,400 a share, down 0.4% against the previous day.

Steelmaker NKG went up to the ceiling price in the morning as SMC, a trading and investment company, had registered to buy two million NKG shares. However, the stock closed with a 4.8% rise at VND34,800 a share.

The HNX-Index went in line with its southern counterpart, dropping 0.38% to the intraday low of 104.73. Turnover on the Hanoi market tumbled with 57.5 million shares worth nearly VND649 billion traded.

Among pillar stocks, bank stock ACB fell 0.35% at VND28,100 a share on volume of 1.3 million shares. PVS, a petroleum technical service firm, declined 1.2% at VND16,400 a share with 2.57 million shares traded.

Construction enterprise VCG fell 0.48% at VND20,800 per share on matching volume of 1.5 million shares. Meanwhile, lender SHB closed at the reference price of VND7,900 a share on volume of over 5.9 million shares.

Among speculative stocks, KLF, which operates in the trading and food service sector, hit the ceiling price for the third consecutive session with 12.3 million shares changing hands.

Foreigners shifted to the buying side on both exchanges, net purchasing over VND28.4 billion worth of shares on the HCMC market and VND3.5 billion on the Hanoi exchange.

According to vietstock.vn, increasing selling pressure at pillar stocks may prevent the VN-Index from beating the 810-point level in the following sessions. However, the market is still supported by cash flow, which focuses on mid and small caps.

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