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Wednesday, June 19, 2024

Main index falls slightly

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HCMC – The VN-Index of the Hochiminh Stock Exchange fell a fractional 0.01% today, September 29, due to the weak cash flow.

The developments of the market today were considered positive amid the country’s gross domestic product decline in the third quarter and the global stock market’s plunge.

With 191 stocks rising and 210 others falling, the main index fell a slight 0.2 points over the session earlier at 1,339.21. Trading volume and value on bourse slid 4% and 6.16% at over 598.5 million shares and over VND17.2 trillion, respectively. Of the total, 39.34 million shares worth over VND2 trillion were traded in block deals.

In the VN30 basket, 17 stocks rose and 12 others fell. Among rising stocks, consumer goods company MSN added 3.7% to its intra-day high, at VND141,000.

Meanwhile, lender STB reported the sharpest fall in the basket, at 2.8%. In addition, insurer BVH, securities firm SSI and bank stocks VPB and CTG lost more than 1% each.

Bank stocks put pressure on the market as many of them were in the red. Except for SSB, which closed at its reference price, other lenders closed down, such as CTG by 1.78%, STB by 2.82% and VIB by 1.51%.

Securities stocks split as large-cap ones, including SSI, VND, VCI, HCM and SHS, were traded below their reference prices, while FTS, BMS and APS expanded some 5% each.

Similarly, steel stocks also split. HSG and POM encountered a slight correction, SMC and NKG inched up slightly and TLH surged 3.4% at VND21,500.

HPG still led the southern market in terms of liquidity with nearly 24.9 million shares traded.

Fertilizer and cement stocks were bright spots on the market as many of them surged to their ceiling prices, such as fertilizer firms DCM, BFC, DPM and PMB and cement producers HT1, BCC, BTS, HOM and HVX.

On the northern bourse, the selling pressure at the end of the session dragged the HNX-Index down. The index lost 1.74 points, or 0.49%, at 354.29 points.

There were 105.75 million shares worth over VND2.2 trillion changing hands.

Many bank stocks tumbled to their lowest levels of the day. For example, NVB declined 4.6% at VND27,000, BAB slid 2.7% at VND21,900 and SHB edged down 1.5% at VND26,000.

Some stocks in the HNX30 basket also fell sharply, such as securities companies SHS and BVS by 2.2% and 2.1% at VND36,200 and VND32,200, respectively.

Lender SHB was the most actively traded stock on bourse with over 12.67 million shares matched.

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