Market ends September down amid strong selling pressure

Market ends September down amid strong selling pressure

Foreign investors continued their net selling trend on the HoSE, with a value of nearly VNĐ1.3 trillion.

FPT Corporation's products at a tech forum. FPT Corporation's shares plunged 2.62 per cent on Tuesday, weighing on the market's downturn. VNA/VNS Photo

Benchmark indices closed the month on a negative note on Tuesday, weighed down by rising selling forces and a withdrawal from foreign investors.  

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index declined slightly by 4.78 points, or 0.29 per cent, to 1,661.70 points. 

The morning session began positively, with the VN-Index briefly climbing over 10 points to surpass 1,676 points. However, by around 11am, increased selling pressure turned the market, leading to a downward trend. 

Market breadth remained in the negative territory, as 241 stocks decreased and 82 went up. Meanwhile, liquidity increased from the previous session to VNĐ32.2 trillion (US$1.2 billion).

The VN30-Index, however, managed a slight increase of 0.9 points, or 0.05 per cent, to 1,863.13 points. Sixteen stocks in the VN30 basket edged down, while 12 ticked up and two remained unchanged. 

The real estate sector faced heavy selling, causing several stocks to plummet. While Vin family stocks showed resilience, with Vincom Retail (VRE) hitting the ceiling price, Vingroup (VIC) increasing by 1.22 per cent and Vinhomes (VHM) by 1.08 per cent, most other real estate stocks fell sharply. 

Notable declines included Dat Xanh Group (DXG), which dipped 5.26 per cent, DIC Group (DIG), which dropped 4.51 per cent, while Kinh Bac City Development Holding Corporation (KBC) fell 3.22 per cent and Novaland (NVL) went down 2.24 per cent, among others.

The decline was broad-based, with the software and services sector suffering the most, dropping by 2.48 per cent. FPT Corporation (FPT) contributed nearly one point to the index's loss, down over 2.6 per cent. 

Conversely, the financial sector — including banking and securities — saw a strong recovery, which helped ease the VN-Index's losses.  

Notable gains in the securities sector included MB Securities JSC (MBS) rising 4.27 per cent, SSI Securities Corporation (SSI) gaining 2.66 per cent and VNDirect Securities Company up 1.35 per cent. 

The banking sector also leaned toward positive territory, with LPBank (LPB) rising by 3.56 per cent and Eximbank (EIB) by 1.36 per cent.

On the Hanoi Stock Exchange, the HNX-Index also experienced a downturn, closing down 1.99 points, or 0.72 per cent, at 273.16 points. 

More than 118.6 million shares worth over VNĐ2.7 trillion were traded on the northern bourse.

Foreign investors continued their net selling trend on the HoSE with a value of nearly VNĐ1.3 trillion. However, they net bought more than VNĐ18 billion on HNX. 

Bizhub