VN-Index off the threshold of 1,270 points

May 31, 2024 - 05:08
Falls in large-cap stocks weighed in on the market on Thursday, causing the VN-Index to fall for a second consecutive day.


Exploiting rubber latex in Gia Lai. Vietnam Rubber Group (GVR) was the biggest gainer on a bearish day in the market. — VNA/VNS Photo

HÀ NỘI — Falls in large-cap stocks weighed on the market on Thursday, causing the VN-Index to fall for a second consecutive day.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) finished the day at 1,266.32 points, down 6.32 points, or 0.5 per cent.

On the southern bourse, the breadth was negative as 186 stocks ticked down while 130 increased and 60 ended flat. Liquidity remained high, fluctuating nearly VNĐ26 trillion (US$1 billion), up slightly from the previous trading session, equivalent to a trading volume of one billion shares.

The VN30-Index, tracking the 30 biggest stocks on the HoSE by market capitalisation, also dropped 4.73 points, or 0.37 per cent, to 1,279.29 points. The number of decliners surpassed gainers in the VN30 basket by 21 to eight, while one stock ended flat.

Banking, real estate and manufacturing industries dominated the market. Leading the downturn was the Bank for Foreign Trade of Vietnam (VCB) as shares of the lender tumbled more than 1.3 per cent, erasing more than 1.6 points from the VN-Index.

It was followed by the Bank for Investment and Development of Vietnam (BID) and Vingroup Joint Stock Company (VIC), down 1.85 per cent and 2.82 per cent, respectively, contributing to a decrease of more than two points of the VN-Index.

Other stocks influencing the downturn were PetroVietnam Gas Joint Stock Corporation (GAS), down 1.34 per cent, Hòa Phát Group JSC (HPG) which dipped 1.22 per cent and Military Commercial Joint Stock Bank (MBB), down 2.02 per cent.

However, losses were capped by gains in some pillar stocks, led by Vietnam Rubber Group - Joint Stock Company (GVR), which was up over 3.1 per cent, Mobile World Investment Corporation (MWG) increased by 3.8 per cent and Masan Group Corporation (MSN) rose 2.93 per cent.

The Hà Nội Stock Exchange (HNX) index also finished lower on Thursday afternoon, declining 0.06 per cent to 244.01 points.

During the session, more than VNĐ2.7 trillion worth of shares were traded, equivalent to a trading volume of nearly 143 million shares on the northern bourse.

Foreign investors in the afternoon increased buying by about 172 per cent compared to the morning session, reaching VNĐ1.1 trillion but also increased selling by 28 per cent to VNĐ1.6 trillion. The net selling level for the whole day was high, reaching VNĐ1.3 trillion on HoSE. The VN30 basket of shares had a net withdrawal of VNĐ1.1 trillion. — VNS