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VN30 falls during debut session

Update: February, 07/2012 - 09:20

 

An investor follows market movements at Bao Viet Securities Co. The new VN30 index on the HCM City Stock Exchange failed to post gains during its debut session. — VNS Photo Viet Thanh
HA NOI — The new index VN30, which comprises the 30 best stocks listed on the HCM City Stock Exchange, lost 1.43 per cent from 449.41 points to 447.47 points during its first ever session yesterday.

The value of trades on the southern exchange totalled VND427.1 billion (US$20.3 million) yesterday, plunging 56 per cent against last Friday's level on a volume of 32.9 million shares.

Meanwhile, the VN-Index also shed 0.5 per cent to 399.73 points with losers outnumbering gainers by 140-77.

Chairman of the VN30 Index committee Tran Hoang Ngan said movements on the VN-Index did not accurately reflect market conditions in the past.

"Thus, the new VN30 index will assist investors in evaluating market trends," said Ngan.

Other indicators would be launched in the future to provide investors with more options in managing and developing their portfolios, he said.

"However, it will take time to verify if the VN30 is an indispensable tool for the market," said Ngan.

Of the 10 leading shares by capitalisation, Vietinbank (CTG) and food processor Masan (MSN) hit their floor prices. Only Sacombank (STB) and property developer Vincom (VIC) added 2.1 and 3.5 per cent, respectively, while the remaining six blue chips failed to make gains.

Becamex Infrastructure (IJC) was the most active stock in HCM City with more than two million shares changing hands. It reached its ceiling price of VND10,300 per share.

On the Ha Noi Stock Exchange, the HNX-Index edged down nearly 0.6 per cent to just 61.49 points. The number of decliners accounted for nearly half of the listed stocks.

Trading value reached only 64.6 per cent of the previous session's level, standing at VND285.1 billion ($13.6 million) as volume fetched 34.7 million.

VNDirect Securities CO (VND) was the most heavily traded stock, witnessing 4.4 million of its shares exchanged, followed by PetroVietnam Construction (PVX) with 4.1 million shares. — VNS

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