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Thursday, September 28, 2023

Main index ends lower despite sharp rise of securities stocks

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HCMC – The increased selling pressure facing bluechips hindered the rise of the benchmark VN-Index of the HCMC market, even though the group of securities stocks and others staged impressive performance today, December 8.

The main index was challenged at the 1,030-point level, but one of the upsides seen in this session is that market turnover remained high at over VND10 trillion on the southern bourse,  helping the index avoid a steep decline.

Closing, the benchmark index fell 0.72 point, or 0.07% against the previous session at 1,029.26, with 240 advancers and 203 decliners. Trading volume and value rose slightly by 1.14% and 4.2% at over 527 million shares worth more than VND10.5 trillion. Shares traded in put-through transactions contributed over VND711 billion to the overall value.

Many securities stocks ended in an upbeat note and stole the limelight. Notably, HCM surged 6.9% to hit its ceiling price of VND26,500 and overtook steelmaker HPG to lead the southern bourse by liquidity, with matching volume of 22.15 million shares.

Similarly, securities firm AGR hit its upper limit. Its peers SSI expanded 6.6%, VCI improved 2.1%.

Meanwhile, bank stocks weakened as many of them reversed course to fall slightly such as TCB, BID, TCG, and EIB. Lender VCB moved backward to its reference price.

Also, up to 17 stocks in the VN30 basket closed with losses, with financial investment company TCH recording the biggest fall by 1.5%. As for winning stocks, aside from securities firm SSI, steelmaker HPG, lenders STB and MBB made small gains.

On the northern bourse, the HNX-Index added 2.41 points, or 1.56% over the session earlier to its intraday high of 154.6 thanks to high demand, with 86 winners and 94 losers. Similar to the HCMC market, securities stocks on the Hanoi market surged sharply, such as BCS by 6.7%, MBS by 5.5%, SHS and ART by 4% each.

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