Hanoi Stock Exchange (HNX) in Hà Nội. The HNX-Index gained 0.39 per cent, to 260.01 points yesterday. Photo hnx.vn

HÀ NỘI — Benchmark indices were mixed on Tuesday, with the VN-Index experiencing sharp losses from a strong selling force.

The downturn comes amid rising concerns that conflicts in the Middle East could disrupt energy supply chains and global trade, thus exerting pressure on inflation and exchange rates.

On the Hochiminh Stock Exchange (HoSE), the VN-Index closed down 32.96 points, or 1.79 per cent, at 1,813.14, marking a decline of approximately 67 points just after two trading days in March.

The southern market's breadth was in a negative zone, with 214 stocks finishing below their reference prices, nearly double the number of those that gained. Liquidity on the HoSE reached over VNĐ43.7 trillion (US$1.7 billion), a slight reduction from the spike of VNĐ47 trillion on the previous session.

The VN30 basket faced even greater disparity, registering 24 stocks in the red, four times the number of gainers. It ended at 1,959.35 points, down 51.4 points, or 2.56 per cent.

A major contributor to the downturn was the sharp sell-off of Vin-family stocks. These shares accounted for a loss of 26 points on the VN-Index.

Both Vingroup (VIC) and Vinhomes (VHM) hit floor prices, closing without any buyers.

Other Vin stocks, including Vincom Retail (VRE) and Vinpearl (VPL), also lost 5.2 per cent compared to their reference prices.

Sector-wise, selling pressure was heavily concentrated in the banking industry, with leading players such as BIDV (BID), Vietinbank (CTG), Techcombank (TCB), MBBank (MBB), VPBank (VPB) and Vietcombank (VCB) all falling by over 2 per cent.

The aviation sector faced its own challenges, as military conflicts in the Middle East impacted various flight routes, leading to declines in airline stocks.

Vietnam Airlines (HVN) dropped by 4.5 per cent, while Vietjet (VJC) fell approximately 3 per cent.

In contrast, the oil and gas sector continued to serve as a crucial pillar for the market. While many constituent stocks were down during the session, they managed to recover by the close, with firms like PV Gas (GAS), Petrolimex (PLX), PV Trans (PVT) and Binh Son Refining and Petrochemical (BSR) logging the biggest daily gain of 7 per cent.

Meanwhile, the HNX-Index on the Hanoi Stock Exchange (HNX) gained 1.01 points, or 0.39 per cent, to 260.01 points.

Following two consecutive sessions of aggressive buying, foreign investors returned to a selling stance, unloading over VNĐ782 billion on HoSE and VNĐ20.8 billion on HNX. — BIZHUB/VNS