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Wednesday, June 19, 2024

VN-Index hit by sell-off

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HCMC – Investor caution and heavy selling pressure on many bluechips and small and medium stocks pulled the VN-Index of the Hochiminh Stock Exchange down by 0.31% today, June 26, marking the fourth straight losing session.

With losing stocks outnumbering winning ones by 253 to 124, the main index declined by 2.61 points against the session earlier at 851.98. Trade volume totaled 300.4 million shares worth VND4.3 trillion changing hands, down 3.8% in volume and 7.5% in value from the previous session. Block deals made up over 41.7 million shares valued at VND1.2 trillion.

Most of bank stocks such as VCB, BID, CTG, HDB and STB stood at their reference prices while 18 stocks in the VN30 basket ended the day down.

Property firm VIC closed at the intraday low of VND91,500 per share, while other bluechips, including dairy firm VNM, gas firm GAS and insurance firm BVH also lost ground.

Brewery firm SAB was among key supporters of the southern bourse, soaring by 3% at the close.

Among small and medium stocks, construction firm ROS, property developer FLC, steel firm HSG, industrial zone developer ITA, agriculture company SJF and real estate firm DLG came under selling pressure, finishing the session in the red. Meanwhile, agricultural firm HAI plunged to the floor price.

FLC was the most actively traded stock on the southern market with over 36.6 million shares changing hands.

Facing the same fate, the poor performance of bluechips sent the HNX-Index of the Hanoi Stock Exchange down by 0.55% at 113.45 points.

The northern bourse saw the three bank stocks of ACB, SHB and NVB drop by 0.4%, 2.1% and 2.3%, respectively.

Other bluechips such as stone manufacturer VCS, insurer PVI and securities firm SHS closed in the red while construction firm VCG and gas firm wrapped up at their reference prices.

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