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Sunday, July 21, 2024

Stock trade turns gloomy

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HCMC – As trading contracted due to weak cash flow, the local stock market ended in the red today, July 2, after managing to bounce back for just one session yesterday.

With 168 advancers and 210 decliners, the VN-Index of the Hochiminh Stock Exchange dropped 1.11 points, or 0.13% against the previous session to 842.38. Trading on the southern bourse slumped 16% in volume and 19% in value to 223.1 million shares and VND3.7 trillion.

As many as 18 stocks in the VN30 basket turned losers but none of them lost over 2%, thus preventing the benchmark index from a steep decline. Of the decliners, State-owned electricity firm POW suffered the sharpest fall, by 1.9% to VND9,100, followed by dairy firm VNM with a 1.5% decrease. Construction stock ROS, lender STB, and securities firm SSI shed over 1% each.

By contrast, some stocks in the basket traded in positive territory, including consumer goods producer MSN, brewery firm SAB, and insurer BVH inching up by 2.1%-3.1%.

Notably, construction firm Coteccons (CTD) reached its upper limits for two consecutive sessions, closing at VND79,000 with over 0.4 million shares changing hands.

Real estate developer FLC led the HCMC market by liquidity with matching volume of 21.25 million shares, followed by steelmaker HPG and construction company ROS with 13 million shares and 11.3 million shares transacted, respectively.

On the northern bourse, trading was more dreary due to poor demand. None of the 10 most actively traded stocks saw matching volume higher than two million shares. Further, top largecaps of the Hanoi market including ACB, SHB, VCS, and PVS were decliners. Closing the session, the HNX-Index lost 0.08 point, or 0.07% to 111.61, with 70 winners and 75 losers.

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