Shares lose ground due to large-caps and mid-caps

Shares ended lower on Monday due to the sharp fall of large-caps and mid-caps in some major sectors, pressuring the overall market.

 

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) lost 0.35 per cent to end at 1,447.25 points.

The market's liquidity was negative with 127 stocks rising, while 350 slid.

Investors poured over VND36.6 trillion (US$1.6 billion) into the southern exchange, equivalent to a trading volume of VND1.3 billion shares.

The 30 biggest stocks tracker VN30-Index gained 1.13 per cent, to end at 1,517.04 points. Nineteen in the VN30 basket climbed, while 10 decreased.

In the VN-30 basket, the worst performers were PV Power (POW), falling 6.5 per cent, Khang Dien House (KDH) dropping over 6 per cent, Vietnam National Petroleum Group (PLX) and The Viet Nam Rubber Group (GVR) both falling more than 5 per cent.

In the mining industry, oil and gas stocks dropped sharply, of which PetroVietnam Drilling and Well Services Corporation (PVD) plunged 7 per cent.

Other oil and gas stocks also fell sharply, such as Binh Duong Mineral and Construction JSC (KSB), Binh Dinh Minerals Joint Stock Company (BMC), CIC39 Corporation (C32), Lao Cai Mineral Exploitation & Processing JSC (LCM) and Thu Duc Housing Development Corporation (TDH).

Small and medium-cap stocks in the real estate industry continued correcting, including Danh Khoi Group JSC (L14), Song Da Urban Investment Construction & Development JSC (SDU), Dat Xanh Group (DXG), Quoc Cuong Gia Lai Joint Stock Company (QCG), Licogi 16 Joint Stock Company (LCG), Hoang Quan Consulting-Trading-Service Real Estate Corporation (HQC) and Kien Giang Construction Investment Consultancy Group (CKG).

“The market today experienced a struggling session in the 1,443-1,467 area. At the end of the session, VN-Index dropped more than 5 points compared to the previous session with relatively large liquidity,” said BIDV Securities Co.

“Market breadth tilted to the negative side with losers outnumbering advancers. VN-Index is testing the support area of 1,440-1,450 points. Regarding the transactions of foreign investors, today they were net buyers on both HSX and HNX,” it said.

Foreign investors' net bought VND504.26 billion on HOSE. They were net buyers on HNX with a value of VND934.21 billion.

On the Ha Noi Stock Exchange (HNX), the HNX-Index lost 2.06 per cent to end Monday at 444.62 points.

During the trading session, nearly 181 million shares were traded on HNX, worth nearly VND4.8 trillion. 

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