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Wednesday, June 19, 2024

VN-Index dips over selling pressure

The Saigon Times

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HCMC – The poor performance of many large-cap stocks and strong selling pressure pulled the VN-Index of the Hochiminh Stock Exchange down 17.48 points today, November 19.

At the close, the benchmark index lost 1.19%, from the session earlier, at 1,452.35 points, with decliners outnumbering gainers by 346 to 124. Trade volume totaled over 1,521 million shares worth VND44.7 trillion changing hands, up a staggering 39.5% in volume and 28% in value, over the day earlier.

The group of bank stocks became major drivers of the main index, with lender HDB hitting the ceiling price and ACB, VPB, CTG, VIB and MSB adding over 2%.

On the negative side, gas firm GAS plunged into its floor price, while rubber group GVR and insurer BVH dipped by over 4%.

Steelmaker HPG slid 3.9% to its intraday low, but took the lead by liquidity on the southern bourse with a matching volume of 48.5 million shares.

Many real estate and construction stocks lost steam, with HBC, CII, IJC, DRH and KBC tumbling by over 4%.

Under strong selling pressure, the group of small and medium stocks reversed course to end lower, including TTF, HNG, FIT and HAI.

The Hanoi Stock Exchange turned negative as the number of losers far outstripped that of gainers by 131 to 38. The HNX-Index slumped by 3.15%, or 14.75 points, against the session earlier, at 453.97.

In the HNX30 basket, 15 stocks performed poorly, while four others finished at the reference price.

Securities firm SHS ended the day down, but became the most actively traded stock on the northern bourse with 18.5 million shares changing hands, followed by oil and gas stock PVS. Other securities and oil stocks such as BVS, MBS, PVC and PVB were in negative territory.

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