Market struggles on rising selling force
Market struggles on rising selling force
Benchmark indices edged higher on Tuesday morning, but the market struggled as selling force weighed on some large-cap stocks after big gains yesterday.
The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) extended gains, up 2.81 points, or 0.2 per cent, to 1,396.9 points.
The market's breadth was negative with 182 stocks climbing, while 208 stocks declined. However the liquidity continued to improve with a value of VND13.3 trillion (US$585 million), equivalent a trading volume of more than 452.1 million shares.
The index was backed by gains in some large-cap stocks. Of which the VN30-Index, which tracks 30 biggest stocks on the southern market, rose 0.97 points, or 0.06 per cent, to 1,511.24 points.
Fourteen stocks of the VN30 basket climbed this morning, while 13 slid and three stayed flat.
PetroVietnam Gas (PVGas, GAS) was the biggest gainer, leading the market's uptrend with an increase of 0.53 per cent.
It also received support from Vingroup (VIC), Mobile World Investment Corporation (MWG), BIDV (BID) and Vinamilk (VNM). These stocks rose in a range of 0.67 - 1.78 per cent.
On the other hand, the market fluctuated as some pillar stocks were pressured by profit-taking activities after rising higher in the last session.
Novaland (NVL), VPBank (VPB) and Vinhomes (VHM) were the top three with the biggest losses.
On the Ha Noi Stock Exchange (HNX), the HNX-Index also inched higher this morning, up 3.19 points, or 0.85 per cent, to 377.53 points.
