Market snaps 6-day winning streak on profit-taking force
Market snaps 6-day winning streak on profit-taking force
Benchmark indices opened the new week on a negative note as some investors took profits after a long rally streak of six days set last week.
Clients at a transaction office of BIDV. Shares of the lender plunged 2 per cent on Monday, weighing on the market's sentiment. — Photo bidv.com.vn |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index dipped 13.31 points, or 1.15 per cent, to 1,141.42 points. The reversal ended its six-day winning streak.
The VN-Index had gained 2.32 per cent last week.
The market's breadth fell into negative territory, with 251 stocks declining while 84 ticker symbols ticked higher.
Liquidity, however, rose over the previous session. In particular, the trading value on the southern bourse increased by 5.6 per cent to more than VNĐ15.2 trillion (US$622.4 million). This was equal to a trading volume of nearly 676.2 million shares.
The VN30-Index, which tracks the 30 biggest stocks on HoSE, also inched lower on Monday. It closed at 1,153.21 points, a decrease of 13.45 points, or 1.15 per cent. In the VN30 basket, 23 stocks tumbled, while six advanced and one stayed flat.
Similarly, the northern benchmark HNX-Index snapped its rally streak today. It was down 2.59 points, or 1.08 per cent, to 236.46 points.
During the session, more than 97.7 million shares were traded on HNX, worth nearly VNĐ2.3 trillion.
Leading the downtrend were the real estate, manufacturing and banking stocks, with Vinhomes (VHM) being the biggest loser. Shares of the property developer reported a fall of 2.88 per cent.
It was followed by Hòa Phát Group (HPG) down 2.91 per cent, BIDV (BID) slumping by 2 per cent, and Vingroup (VIC) falling 2.4 per cent.
Stocks in the securities sector also witnessed significant losses, with SSI Securities Corporation (SSI) down 4.32 per cent, VNDirect Securities Corporation (VND) dipping 4.77 per cent, Saigon - Hanoi Securities JSC (SHS) plunging 2.75 per cent and Hồ Chí Minh City Securities Corporation (HCM) down nearly 4 per cent.
In contrast, oil and gas stocks still performed well as oil prices in the international market steadied above $90 a barrel due to the Israel-Hamas war. In particular, PV Gas (GAS) jumped 1.3 per cent, PetroVietnam Technical Services Corporation (PVS) rose more than 2 per cent, and PetroVietNam Chemical And Services (PVC) climbed 2.72 per cent.
Also weighing on the market, foreign investors net sold a large amount on both main exchanges. Of which, they net sold nearly VNĐ827.3 billion on HoSE and VNĐ39.46 billion on HNX.
