Tuesday,  Sep 25, 2018,10:18 (GMT+7) 0 0
Market rally loses steam
Phuong Thao
Thursday,  Jan 11, 2018,18:11 (GMT+7)

Market rally loses steam

Phuong Thao

HCMC – Having soared to over 1,045 points in the morning phase, the HCMC stock market took a nosedive in the last 15 minutes on January 10 as many VN30 stocks came under strong profit taking pressure.

The VN-Index still managed a slight rise, adding 4.55 points, or 0.44%, against the previous session at 1,038.11 points. Turnover on the HCMC market kept improving with volume and value soaring 13.7% and 11.5% to 375 million shares and VND9.2 trillion.

VNM was the best performer among the large caps in the rebound after three days of losses. The dairy firm increased 1.9% to an intraday high of VND211,000 a share with matching volume of 900,000 shares.

Gas group GAS increased 1.4% at VND103,000 per share and property firm VIC inched up 0.25% at VND80,800 a share. In contrast, brewery SAB and consumer goods producer MSN closed around the intraday lows of VND259,500 and VND87,000 per share, down 0.6% and 3.3% versus Tuesday respectively.

Oil and gas stocks had a good day given a surge in global oil prices overnight, in which PVD went up to the ceiling price of VND28,350 per share with volume of 5.2 million shares. Among property stocks, SCR soared to the upper limit of VND10,850 per share with 13.3 million shares traded.

For the banking sector, STB again took the lead by liquidity with 49.5 million shares changing hands, jumping 5.1% versus Tuesday at VND15,600 per share. EIB extended its winning streak to the fourth straight session, rising 4.2% at VND14,900 a share with matching volume of over 2.5 million shares.

The HNX-Index, meanwhile, fell 0.18% at 121.93 points after two rising sessions in a row. Trading volume on the Hanoi market dipped 4.7% at 89.2 million shares but value improved 13% from the day earlier at VND1.3 trillion.

ACB was the biggest laggard as the lender declined after a four-day rising streak. The stock closed down 1.2% at VND39,800 per share with matching volume of 4.6 million shares.

Lender SHB remained the most actively traded stock with 19.8 million shares traded but it moved sideways at VND10,500 per share, followed by petroleum stocks PVS and PVX with 9.5 million shares and 6.3 million shares respectively. Notably, PetroVietnam Construction Corporation (PVC) hit the upper limit of VND13,500 a share.

Foreign investors net bought 5.9 million shares worth VND452.8 billion on the HCMC bourse, up 29.3% and 151.6% against Tuesday respectively. However, they net sold VND6.3 billion of shares on the Hanoi exchange.

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