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VN-Index inches up despite sell-off pressure

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HCMC – Despite strong selling pressure, many bluechips performed well, sending the VN-Index of the Hochiminh Stock Exchange up 0.1%, or 1.33 points, from the session earlier, at 1,345.31 today, September 10.

The market breadth was positive as 213 stocks gained steam while 194 others lost ground. Over 598.7 million shares worth VND19.2 trillion changed hands, down 6.8% in volume but equivalent in value from the day earlier. Block deals contributed VND2 trillion to the total value.

In the bluechip group, jewelry company PNJ made a strong gain, while brewer SAB, lender VPB, dairy producer VNM and retailer VRE advanced by 1.5%-2% each at the close.

Many speculative stocks reversed course to finish up, with construction stock PHC and transport and industry development company TCD hitting their upper limits.

Meanwhile, many bank stocks such as VCB, BID, CTG, ACB, MBB, VIB, HDB and TPB lost steam, leaving a negative impact on the main index.

Other poor performers were property and construction stocks such as VHM, PDR and DIG.

Meanwhile, as many large-cap stocks were in negative territory, the HNX-Index of the Hanoi Stock Exchange closed down 0.4 points, or 0.11%, from the session earlier, at 350.05, ending its streak of 10 winning sessions.

Trade volume totaled over 120 million shares valued at VND2.3 trillion.

Lender SHB took the lead by liquidity on the northern bourse with a matching volume of 11.7 million shares, but it finished down.

Petroleum stock PVS, industrial development firm IDC and securities stocks BVS and MBS edged down by less than 1%, while bank stock BAB dipped by 4.3%.

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