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Investors sell banking, petroleum stocks
Phuong Thao
Wednesday,  Mar 28, 2018,23:20 (GMT+7)

Investors sell banking, petroleum stocks

Phuong Thao

HCMC – Most stocks in the banking and petroleum sectors encountered strong selling pressure when the VN-Index touched an intraday high of 1,187 points on March 27.

The HCMC market saw 156 stocks falling while 133 others increased. However, some large caps such as VNM, VJC and HDB underpinned the market, keeping the main index virtually unchanged, up a mere 0.04% at 1,171.73.

Turnover on the bourse improved 12.3% in volume and 8% in value to 237.7 million shares worth VND6.8 trillion. The put-through market was active with 36.4 million shares worth VND1.2 trillion traded, including block deals of property firms VIC, PDR and NVL and technological giant FPT.

Among key supporters of the main index, dairy firm VNM advanced 2.2% at VND213,000 a share on matching volume of 1.6 million shares. VJC, a low-cost carrier, added 1.9% at VND222,000 per share with 785,000 shares exchanged.

The banking sector saw significant divergence as BID, VCB, STB and EIB lost ground while VPB and HDB increased and CTG and MBB closed sideways. STB was the volume leader in this group with 8.2 million shares exchanged, followed by CTG with 7.5 million shares and MBB with nearly 4.9 million shares.

Among small stocks, property enterprise FLC went up to the ceiling price of VND6,580 per share as the group cut a deal to buy 27 Airbus planes. Most of its associated firms such as construction firm ROS, mining firm AMD and agricultural firm HAI also increased but FIT, which is active in the financial sector, slid 6.1% at VND6,900 a share.

The HNX-Index fell 0.29% at 133.29 while turnover on the Hanoi market rose 5.2% in volume and 2.6% in value at 68.1 million shares worth VND1.2 trillion.

Petroleum technical service firm PVS led the exchange for liquidity with 15.3 million shares traded but it slumped 8.9% at VND21,600 per share. Lender SHB ranked second with 14.2 million shares, dipping 0.8% at VND13,200 a share.

Among gainers, lender ACB rose 0.4% at VND47,500 per share on volume of 3.3 million shares. CEO, a property enterprise, increased 0.8% at VND12,700 a share with nearly 3.6 million shares exchanged.

KLF, another associated firm of FLC operating in the trading and food service sector, shot up to the upper limit of VND2,600 a share on matching volume of 3.9 million shares.

Meanwhile, SPP broke its six-day winning streak, plunging to the floor price of VND7,200 per share. The plastic packaging enterprise reported volume of 2.1 million shares.

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