Market ends mixed on low liquidity

Market ends mixed on low liquidity

Major sectors such as finance and residential real estate faced selling pressure, particularly in banking stocks, which heavily weighed on the overall index.

A booth of Gelex Electric at an exhibition. The company's shares soared 7 per cent on Thursday, cushioning the market's downtrend. — Photo gelex-electric.com

Benchmark indices were mixed on Thursday, with the VN-Index retreating while investor sentiment remained cautious, leading to subdued liquidity.  

On the Hochiminh Stock Exchange (HoSE), the VN-Index closed lower at 1,631.44 points, down slightly by 0.42 points. This snapped its two-day recovery streak. 

The market’s breadth stayed within the positive zone, with the number of gainers surpassing that of decliners by 163 to 138. However, liquidity fell slightly from the previous session to VNĐ21.7 trillion (US$826 million). 

The VN30-Index also finished in the red, down 8.04 points, or 0.43 per cent, to 1,864.23 points. In the VN30 basket, 13 inched higher, while 15 decreased and two stayed flat. 

Major sectors such as finance and residential real estate faced selling pressure, particularly in banking stocks, which heavily weighed on the overall index. 

Sacombank (STB) dropped 3.74 per cent, TPBank (TPB) decreased by 2.02 per cent, and EXIMBANK (EIB) fell 1.16 per cent. Other banks, including HDBank (HDB), MBBank (MBB), Orient Commercial Joint Stock Bank (OCB), VPBank (VPB), Techcombank (TCB) and Asia Commercial Joint Stock Bank (ACB), also saw declines close to 1 per cent.

The index’s loss was capped as industrial real estate stocks attracted significant investor interest, marking a strong rebound after a prolonged period of stagnation. Notable performers included IDICO Corporation (IDC), which surged 6.11 per cent, followed by Sai Gon VRG Investment Corporation (SIP) with an increase of 4.69 per cent, SZC up 4.56 per cent and Vietnam Rubber Group (GVR) gaining 1.6 per cent. 

This resurgence in the industrial property sector indicates a selective flow of capital into specific industries as investors seek promising opportunities.

Energy stocks also saw strong momentum, contributing to overall market activity. 

Companies like PV Drilling (PVD) and Gelex Electricity (GEE) surged to their ceiling prices, while PV Trans Corporation (PVT) increased by 5.11 per cent, PetroVietnam Technical Services Corporation (PVS) rose by 3.9 per cent and PV Power (POW) climbed 3.2 per cent. This growth reflects ongoing demand and resilience within the energy sector amid broader market fluctuations.

On the other hand, the HNX-Index on the Hanoi Stock Exchange (HNX) recorded a slight uptick, gaining 1.5 points, or 0.57 per cent, to 266.29 points.

Foreign investors continued to be net sellers on HoSE, offloading shares worth nearly VNĐ988 billion. They also net sold nearly VNĐ36.6 billion worth of shares on HNX.  

Bizhub