|Brokers at FPT Securities in Ha Noi. A steep fall in PV Gas (GAS), the biggest stock on the market in terms of market value, dragged down the VN-Index by 0.32 per cent to close at 585.28 points. — VNS Photo Thai Ha
HA NOI (VNS) — Blue chips recovered yesterday but a steep fall in PV Gas (GAS), the biggest stock on the market in terms of market value, dragged down the VN-Index by 0.32 per cent to close at 585.28 points.
GAS lost 3 per cent to end at VND100,000 (US$4.74) per share.
Most of the VN30 (top 30 shares by market value and liquidity) stocks rallied, pushing the VN30 Index up 0.16 per cent to stand at 624.77 points.
Liquidity dropped yesterday as both market volume and value declined 20 per cent compared with the previous session, totaling 130.5 million shares worth VND2.525 trillion ($119.7 million).
Real estate shares continued to draw most of the investments with the sector accounting for the three most active stocks.
FLC Group (FLC) led the market volume with 13.3 million shares, surging 6.67 per cent to finish at VND11,200 per share.
Tan Tao Investment Industry Corp (ITA) came second on trades of 6.9 million shares, followed by Kinh Bac City Development (KBC) with 5.4 million shares traded.
On the Ha Noi Stock Exchange, the HNX-Index rebounded in last minute thanks to increased buying from the domestic sector.
The Index rose 0.5 per cent to close at 87.64 points and the late purchases lifted the market volume to 85.2 million shares worth VND1.187 trillion ($56.3 million).
KLF Joint Venture Global Investment Co (KLF) took the position of the most active code of PetroVietnam Construction Corp (PVX) yesterday with 21.1 million shares traded. The share price soared 7.34 per cent to end at VND11,700 a share.
PVX came second on total trade of nearly 11 million shares, jumping 3.39 per cent to finish at VND6,100 each.
Foreign investors continued to unload local shares on both exchanges yesterday, increasing their net sales value to VND395.4 billion ($18.7 million), their biggest one-day selling since last July.
Analysts with the Investment Vietnam Securities Company say the VN-Index retreated to below the support level of 590 points and the sales by foreign investors could further dampen confidence of the domestic investors.
They predict the market would test the level of 580 points before rebounding and suggest investors take due caution before deciding to use leverages. — VNS