Thursday, April 18, 2024 7:52:37 AM - Markets open
VN-INDEX 1,193.01 -22.67/-1.86%
HNX-INDEX 226.20 -2.63/-1.15%
UPCOM-INDEX 88.15 -0.48/-0.54%
Shares reverse to fall on selling pressure
Vietnam News - 11/8/2023 5:01:35 PM
 (0 ratings. You must sign in to rate.)
 Shares reversed course to end lower on Tuesday, pressured by the selling force hitting a series of large-cap stock groups at the final minutes of the trading session.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index lost 0.86 per cent to close at 1,080.29 points. The index had gained 1.20 per cent on Monday.
Market breadth was negative with 138 gainers and 378 decliners.
Some 634.5 billion shares were traded on the southern exchange, worth VNĐ12.6 trillion (US$517.7 million).
The market approaches the level of 1,080 - 1,100 points. Cash flow is gradually becoming cautious, shown by reduced liquidity compared to the previous 2 sessions, according to Việt Dragon Securities Co.
"With the pressure of the resistance, it is possible that the market will encounter difficulties when approaching 1,100 points, and the risk of retreating still exists. Therefore, investors should slow down and observe supply and demand at the resistance to evaluate the market. Temporarily, it is necessary to consider the market's recovery ability to take profits or restructure the portfolio to reduce risks."
The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, dropped 0.98 per cent to reach 1,092.71 points. In the basket, two stocks climbed, two stayed flat and 26 slid.
Losers in the VN-30 basket included Vinamilk (VNM), Vietjet (VJC) and Sabeco (SAB).
Banking stocks suffered strong selling force during the trading session. Those slumping included Techcombank (TCB), Vietcombank (VCB), VPBank (VPB) and Asia Commercial Bank (ACB), Vietinbank (CTG), HDBank (HDB), Tiên Phong Bank (TPB) and Bank for Investment and Development of Vietnam (BID).
Energy stocks were also hit by selling pressure with losers such as Drilling Mud Joint Stock Corporation (PVC), PetroVietnam Drilling and Well Services Corporation (PVD), PetroVietnam Technical Services Corporation (PVS) and PV OIL (OIL).
On a sector basis, 23 out of 25 sector indices on the stock market lost ground, including wholesale, construction, rubber production, IT and logistics, agriculture, food and beverage, seafood production, and plastic and chemical production.
The HNX-Index on the Hà Nội Stock Exchange (HNX) lost 0.59 per cent to close Tuesday at 218.29 points.
Over 88.9 million shares were traded on the northern exchange, worth VNĐ1.6 trillion. — VNS
Read original article here
Newer News
16/04 Market plunges, HOSE's value evaporates $10 billion
16/04 VN anticipates market impact as KRX stock trading system launches
10/04 Banks and oil stocks endure a tough day, leaving with market volatility
05/04 Oil stocks see bright prospect amid rising prices
05/04 HoSE's stock market capitalisation in March rises by 3.1% compared to February
03/04 Stocks rebound as cash flow surges into large-cap shares
23/03 Shares sustain gains on strong investor confidence
20/03 Vietnamese securities companies race to boost capital amid high market demand
19/03 Large-caps pressured as increased profit-taking drives share decline
18/03 Market likely to be affected by Fed's meeting this week
Older News
01/11 VN-Index loses nearly 11 per cent in October
31/10 Amid margin boom, securities companies report impressive Q3 profits
30/10 VN-Index to trade in range of 1,200-1,250 points at year end
30/10 Market's recovery momentum remains, but facing supply pressure
23/10 Market likely to continue fluctuating this week
19/10 Transparency crucial to upgrading the stock market
16/10 Seaport stocks anticipate bright outlook in Q4
16/10 Việt Nam eyes emerging stock market status by 2025
13/10 Shares gain slightly amid market volatility
11/10 Domestic investors open nearly 173,000 new securities accounts in September
Newsletter Signup
Top Stories
Gold bar auction to be resumed after 11 years of suspension
PM Chính requires strengthened gold market management
Bank shareholders to receive high dividends, stock bonuses
Shares sustain gains on strong investor confidence
Banks given advantages to CASA ratio
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,193.01 -22.67/-1.86%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.