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The benchmark indices having difficulty facing the rising selling force

Benchmark indices moved in different ways on Monday as selling pressure weighed on the market’s sentiment.

Source: Free Pics

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) finished higher, up 0.84 points, or 0.07 percent, to 1,249.62 points. The rising selling force in the afternoon trade pared the index’s morning rally.

The market’s breadth was positive, while liquidity was lower than in the previous session. During the trading day, investors poured nearly VNĐ10.75 trillion (US$457 million), equivalent to a trading volume of nearly 410.2 million shares.

However, the 30 biggest stocks tracker VN30-Index posted a small loss, down 0.04 points to 1,275.6 points. Of the VN30 basket, 11 stocks increased, while 17 decreased and two ended flat.

On the Hà Nội Stock Exchange (HNX), the northern market’s benchmark HNX-Index fell 1.55 points, or 0.54 percent, to 283.08 points.

Accordingly, nearly 59 million stocks were traded on the northern bourse, worth over US$1.4 trillion.

Leading the market’s up trend, Vinhomes (VHM) saw a big gain of 2.5 percent. It was followed by Mobile World Investment Corporation (MWG), Vincom Retail (VRE), Vietcombank (VCB), Vietinbank (CTG), Đức Giang Chemicals Group (DGC), and Digiworld (DGW). These stocks rose in a range of 0.38-5.71 percent.

Oil stocks also provided some support for the rally trend, such as PV Drilling (PVD) up 2.93 percent.

However, gains were capped by losses in many large-cap stocks due to some sell-off activities.

In the top five stocks influencing the downside, Masan Group (MSN) lost the most, down 0.95 percent. Other stocks included Novaland (VNL), Vingroup (VIC), Vietnam Rubber Group (GVR), and Vinamilk (VNM).

The odd-lot trading was officially launched yesterday and was welcomed by investors, especially new and retail investors with a small budget for investments, according to experts. With this function, investors can place orders with volumes from 1-99 stocks.

Meanwhile, foreign investors were net buyers on both main exchanges. Of which they invested VNĐ177.36 billion on HoSE, while poured VNĐ11.3 billion on HNX.

Source: VNS


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