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Monday, July 15, 2024

Local stocks extend losses

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HCMC – The local stock market came under strong selling pressure and stayed in the red at the close today, July 13, with the VN-Index losing 2.4 points due to the poor performance of many bluechips.

The southern market saw gainers outnumber losers by 230 to 149. Still, the main index fell by 0.29% against the session earlier at 868.72. Trade volume totaled over 246 million shares worth VND4.3 trillion, down 15.5% in volume and 10.3% in value from the previous session. Some 42 million shares valued at VND852 billion were traded in block deals.

In the VN30 basket, only seven stocks gained steam while as many as 18 others underperformed, with brewery firm SAB tumbling by 2.9% to the intraday low of VND200,000 per share.

Steelmaker HPG took the lead on the southern bourse by liquidity with over 14.7 million shares changing hands, but closed the day down 0.36%. Its fellow steel firm HSG came second with matching volume of 8.7 million shares.

Among small and medium stocks, property firm HQC, real estate firm DLG and industrial firm HHS lost ground while food enterprise SJF plunged to the floor price, ending its four-day winning streak.

On the Hanoi Stock Exchange, the HNX-Index inched down a fractional 0.01% against the session earlier at 115.65 points. Trade volume amounted to 29.2 million shares, down 4.2% while the value fell by 11% from the session earlier at VND291.7 billion.

Many large-caps stocks on the northern bourse encountered strong selloff pressure. Lenders ACB and SHB closed the day down 0.4% and 0.7%, respectively, while gas firm PVS, construction firm VCG and securities firm SHS stood at the reference prices.

Lender NVB was the most actively traded stock with some 3.4 million shares transacted, followed by electric device producer MBG.

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