Wednesday, September 23 2020

VietNamNews

Shares volatile as large caps differentiate

Update: August, 12/2020 - 07:07
A view of Vincom Mega Mall Times City, operated by Vincom Retail (VRE) in Hà Nội. VRE lost 1.31 per cent on Tuesday. — Photo vinhometimescity.net

HÀ NỘI — Shares failed to maintain their rally on Tuesday with the market experiencing strong volatility with big variation in large-caps' prices.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) edged down 0.01 per cent to end Tuesday’s session at 843.08 points.

The index had risen 0.21 per cent to end Monday's session at 843.20 points.

Market liquidity stayed low with more than 249 million shares traded on the southern exchange, worth VNĐ4.2 trillion (US$182 million).

Market breadth was negative with 154 gainers and 222 decliners.

The blue-chip index VN30, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 0.03 per cent to end Tuesday at 784.57 points.

Sixteen of the 30 largest stocks by market capitalisation and trading liquidity in the large-cap basket decreased while 13 increased.

Shares failed to maintain their rally and witnessed struggles with differentiation in pillar codes.

The banking group rallied and supported the market with gainers including Vietcombank (VCB), Techcombank (TCB), Vietinbank (CTG), HDBank (HDB), VPBank (VPB) and Bank for Investment and Development of Việt Nam (BID).

On the other side, many other blue-chips suffered selling pressure and slumped, including PetroVietnam Gas JSC (GAS), Hoà Phát Group (HPG), FPT Corporation (FPT), Sabeco (SAB), PV Power (POW), Vinhomes (VHM), Vietjet (VJC), Novaland (NVL) and Vincom Retail (VRE).

Insurance, real estate, information and technology and construction materials were among the declining indices on Tuesday.

Securities, retail, healthcare, oil and gas, banking, rubber production, food and beverage, seafood production, logistics and construction gained ground.

According to BIDV Securities Co, investors are hesitant when the VN-Index approaches 840-850 point range.

It was likely the VN-Index would correct slightly or accumulate in the coming sessions, waiting for further news about the COVID-19 pandemic, the company said.

On the Hà Nội Stock Exchange, the HNX-Index went up 2.34 per cent to end Tuesday at 116.30 points.

The index went up 0.77 per cent to end Monday at 113.64 points.

More than 59 million shares were traded on the two exchanges, worth VNĐ843 trillion.

Foreign investors net sold VNĐ188.59 billion on HOSE. They were net sellers on the HNX with a value of VNĐ2.35 billion. — VNS 

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