VN-Index takes nosedive as hundreds of stocks plunge
VN-Index takes nosedive as hundreds of stocks plunge
Due to strong selling pressure piled by the complicated development of Covid-19, hundreds of small- and large-cap stocks plummeted, sending the VN-Index of the Hochiminh Stock Exchange down 4.86% today, March 30.
Local stock prices are seen on an electronic quotation board at a local securities firm in HCMC. The VN-Index of the southern market lost 33.8 points to close at 662.26 today, March 30 – PHOTO: THANH HOA
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Market breadth was negative as the falling stocks far outnumbered the advancers at 339 to 47. The main index lost 33.8 points to close at 662.26. Trade volume totaled at 233 million shares worth VND3.4 trillion changing hand, dipping by 28.9% in volume and 22.2% in value against the session earlier. Block deals contributed VND1.03 trillion to the total value.
Many stocks in the VN30 basket, except for lender EIB and steelmaker HPG, ended in the red.
Most bank stocks, such as CTG, MBB, TCB, VPB and STB, plunged to floor prices, while a number of securities stocks faced the same fate.
Other blue-chips also experienced a deep fall, with brewery firm SAB plummeting by 6.6% at VND121,100 per share.
Many speculative stocks continued their downward spiral, including construction firm ROS, real estate firm DLG and property group FLC.
STB took the lead on the southern bourse by liquidity with over 16 million shares changing hands, but it closed the session at the floor price.
On the northern market, the HNX-Index saw sluggish trade, dipping by 4.18% at 93.28 points at the close. Many bank stocks were main draggers of the Hanoi Stock Exchange, with ACB and SHB slumping by 7.6% and 4%, respectively.
