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Friday, July 19, 2024

Market turnover soars on large block deals

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HCMC – The VN-Index of the Hochiminh Stock Exchange dropped further today, September 10, but market turnover expanded sharply due to large block deals of shares of housing firm VHM.

With 221 gainers and 179 losers, the benchmark VN-Index slid a slight 0.5 points, or 0.06%, against the previous day at 888.82. Trading volume jumped 22% versus Tuesday at over 387 million shares while value skyrocketed 91% at VND11.4 trillion.

The put-through market saw transactions of over 104 million shares valued at VND6.5 trillion, including 72.3 million VHM shares worth VND5.4 trillion.

However, VHM closed the day down 0.6% at VND78,100. Among its associated firms, VIC, Vietnam’s biggest private conglomerate, stood at the reference price of VND90,500.

PLX, a leading gasoline distributor, fell 1.6% at VND50,100, while insurer BVH dipped 2% at VND48,300. On the positive side, REE, which operates in the mechanical engineering sector, surged 5% at VND39,000.

Steel maker HPG was the most actively traded stock on the HCMC market with 12.1 million shares exchanged, inching up 0.2% from the previous session at VND25,550. Lender STB followed with a matching volume of 5.2 million shares, although it declined 0.88% at VND11,200.

BCM, which is active in the industrial sector, encountered high selling pressure after a seven-day winning streak. It closed the session down 6.2% at VND45,000 on matching volume of over 667,000 shares.

On the Hanoi Stock Exchange, the HNX-Index lost 0.11 points, or 0.09%, at 125.82 as most large-cap stocks decreased. Medical firm AMV was the top gainer on the northern bourse, rising nearly 3.5% at VND17,900.

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