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Monday, June 24, 2024

Selling pressure ends stock market’s rising streak

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HCMC – The selling pressure rising at the end of the session today, October 1, dragged the VN-Index of the Hochiminh Stock Exchange down, ending its three-day winning streak.

With 137 gainers and 269 losers, the index lost 7.17 points, or 0.53%, at 1,334.89 points.

There were more than 737.66 million shares worth nearly VND23.3 trillion changing hands, surging 54.47% in volume and 52.93% in value compared with the session earlier. Some 135.7 million shares worth nearly VND5.1 trillion were traded in block deals.

In the VN30 basket, 19 stocks rose and 10 others fell. Among falling stocks, lenders STB and VPB, retailer VRE and securities firm SSI reported a decline of over 3% each.

On the contrary, bank stock TPB, real estate company PDR and electricity firm POW added more than 2% each.

The five best performers in terms of liquidity on bourse were all in the VN30 basket, with HPG taking the lead. It saw nearly 30.5 million shares traded.

Bank and securities stocks extended their losses. Specifically, lenders VPB, LPB, OCB, EIB and VIB lost over 3% to their lowest levels of the day; and STB tumbled 3.9%.

TPB bucked the trend to increase 2.4% to its new record, at VND42,600.

Among securities stocks, HCM plunged 2.9% to its lowest level of the day, at VND50,500. In addition, SSI slid 3.6% at VND39,200 and VCI declined 3% at VND57,700.

Fuel stocks continued showing positive results. Typically, GAS soared 6.7% at VND103,000, PVD expanded 3.5% at VND23,600, and TDG hit its ceiling price.

In the group of chemical stocks, VAF and CSV rocketed to their ceiling prices, while DCM rose 6.6% at VND28,200, SFG added 5.6% at VND13,200, and DGC picked up 5.3% at VND158,900.

On the northern market, the selling pressure also dragged the HNX-Index down 0.84 points, or 0.24%, at 356.49 points.

Over 114.26 million shares worth nearly VND2.5 trillion changed hands.

Bank stock NVB bucked the trend to extend its gain, surging 7% to its intra-day high, at VND29,000. Many blue-chip stocks also posted a positive growth, such as mining firm NBC with an increase of 5.4%.

Meanwhile, property enterprise CEO dropped 2.9% at VND10,000. Real estate developer DTD and securities companies MBS and SHS lost some 2% each.

Petroleum stock PVS led the market in terms of liquidity with 15.57 million shares transacted, followed by lender SHB with 13.5 million shares.

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