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Ho Chi Minh City
Thursday, June 13, 2024

Small, medium stocks attract cash flow

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HCMC – While trading of most of the largecap stocks in the banking, securities, and steel sectors cooled down, many small and medium stocks were cash magnets today, June 21.

During the morning phase, the benchmark VN-Index of the Hochiminh Stock Exchange remained volatile. It extended losses in the afternoon phase due to the increased selling pressure on bluechip stocks.

At the close, the main index shed 5.14 points, or 0.37% against last Friday at 1,372.63, with 173 advancers and 232 decliners. Turnover on the southern bourse contracted 5% in volume and 4.53% in value versus the previous session at over 768 million shares and VND22.66 trillion. Shares traded in block deals contributed more than VND2.2 trillion to the overall value.

Some largecaps helping the main index cushion from a deep decline included tech firm FPT, fuel distributor PLX, consumer food producer MSN, mobile phone retailer MWG, and real estate developer NVL. They rose 2.1-5.8% each.

Among bank stocks, only MBB and STB improved around 0.5%, while most of the remaining lenders ended on a downbeat note. VCB, CTG, HDB contracted 1.8% each, and BID and LPB fell 2.5% and 2.7%, respectively.

In the group of securities stocks, only APG, VCI, VIX managed to maintain growth, while SSI, HCM, FTS, and many others were losers.

Other stocks such as steel and sugar makers quickly cooled down after making gains last week. Among sugar producers, LSS dropped 4% after hitting its upper limits in three previous consecutive sessions, SLS and SBT edged down around 2.5% each, and BHS lost 1.4%. As for steelmakers, HPG, HSG, NGK, and VGS reversed course to end lower.

Stealing the market’s limelight today was small and medium stocks. Property developer FLC led the HCMC market by liquidity with nearly 44.85 million shares changing hands. Agricultural firm HNG surged 6.8% with 44.66 million shares traded.

Besides this, some largecaps were contributors to the index’s poor performance, including dairy firm VNM, retailer VRE, and insurer BVH.

Realty firm DLG also soared 6.9% and ranked fourth in the southern bourse by liquidity with a matching volume of 22.34 million shares. Other stocks such as AAA, POW, HAG, TTF, and ASM extended rally.

On the northern bourse, the HNX-Index closed in negative territory, shedding 2.49 points, or 0.78% over the session earlier at 316.24, with 74 winners and 59 losers.

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