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VN-Index takes nosedive due to selling pressure
The Saigon Times
Monday,  Oct 26, 2020,18:13 (GMT+7)

VN-Index takes nosedive due to selling pressure

The Saigon Times

Customers transact at Bao Viet Securities Company. The indexes of the HCMC and Hanoi exchanges tumble today, June 27, due to sell-offs - PHOTO: VNA

HCMC - Strong selling pressure drove the local stock market down today, October 26, with the VN-Index of the Hochiminh Stock Exchange losing 10.46 points, or 1.09%.

With losing stocks outnumbering winners by 286 to 137, the benchmark index closed the day at 950.8 points.

Trade volume totaled 428.25 million shares worth nearly VND8.6 trillion, inching down 5.36% and 9.61%, respectively, over the previous session. Nearly 23.5 million shares valued at VND597.13 billion were traded in block deals.

In the VN30 basket, only seven stocks advanced, with consumer goods stock MSN adding 2.2% at VND87,900, and six others picking up some 1%.

Most bank stocks in the basket closed at their lowest prices of the day.

Specifically, BID lost 4.2% at VND41,000; CTG dropped 4.1% at VND30,500; STB plummeted 3.09% at VND14,100; and VPB plunged 4.44% at VND24,300.

Small and medium stocks, such as real estate firms FLC and HAG, agricultural firm HAI and industrial zone developer ITA, also closed deep in the red.

The HNX-Index of the Hanoi Stock Exchange also lost 1.88%, or 2.67 points, against the session earlier, at 139.03 points. There were 55.67 million shares worth VND776.33 billion changing hands on the northern bourse.

Many large-cap stocks tumbled. For example, lender ACB slid an astounding 3.1% at VND24,800, while construction firm VCG fell 4.1% at VND41,800. In addition, gas firm PVS slipped 2.9% at VND13,500.

ACB and PVS were the most traded stocks on this market, with 11.66 million and 6.8 million shares, respectively, matched.

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Deputy Editor-in-Chief: Pham Huu Chuong
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