VN-Index snaps a five-day rising streak

VN-Index snaps a five-day rising streak

However, market received some support as foreign investors return to the southern market after net buying VNĐ54.8 billion

Vietnam Rubber Group (GVR) workers collecting rubber latex at a plantation. Shares of the rubber producer dropped by 1.34 per cent on Tuesday, weighing on the market's sentiment. VNA/VNS Photo

The stock market experienced a volatile trading session on Tuesday as profit-taking pressure mounted, leading the VN-Index to reverse its recent rallies.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index was down 4 points, or 0.24 per cent, to 1,680.9 points. The decline highlights the challenges faced by the market, as investors sought to capitalise on recent gains amid heightened volatility.

In the morning session, the VN-Index surged nearly 11 points, reaching a peak of approximately 1,696 points. This uptick reflected investor optimism as the index approached the significant psychological level of 1,700 points.

Market breadth leaned towards the negative zone, with 210 stocks declining compared to 114 advancing. Liquidity remained high at nearly VNĐ41.3 trillion (US$1.6 billion).

The VN30-Index, which tracks the 30 biggest stocks in terms of market capitalisation on HoSE, also finished lower by 1.36 points, or 0.07 per cent, at 1,875.39 points.

In the VN30 group, 16 stocks saw price increases while 13 experienced declines. The majority of sectors reflected downward trends, particularly materials, automotive components and real estate, each dropping more than 1 per cent.

Within the real estate sector, major stocks such as Vingroup (VIC) and Vinhomes (VHM) detracted significantly from the index, contributing to losses of 2.47 points and 1.68 points, respectively. Together, these two stocks accounted for more points lost than the overall decline of the VN-Index during the session.

The index pared losses on support of the banking sector, with five stocks among the top ten contributors to the VN-Index. Notably, MBBank (MBB) and Vietinbank (CTG) added 1.25 points and 1.14 points, respectively.

Several sectors, including software and services, healthcare equipment and services, essential goods retail, telecommunications, professional services, food and beverage and transportation, performed well against the market trend.

On the Hanoi Stock Exchange (HNX), the HNX-Index closed at 278.98 points, down 1.71 points or 0.61 per cent.

Also providing some support, foreign investors return to the southern market after net buying VNĐ54.8 billion. However, they net sold VNĐ 126.3 billion on HNX. 

Bizhub