Losses in large-cap stocks weigh on VN-Index

Losses in large-cap stocks weigh on VN-Index

Despite the overall market closing below reference levels, the number of advancing stocks outnumbered those that declined.

Workers at Duc Giang Chemicals checking products at a warehouse. Shares of the company hit the ceiling price on Thursday, helping cushion the market's downtrend. — Photo ducgiangchem.vn

Benchmark indices saw mixed signals in trading on Thursday, with the VN-Index briefly breaching the 1,900-point mark before retreating, largely due to declines in major stocks.

On the Hochiminh Stock Exchange (HoSE), the VN-Index decreased by 2.7 points, or 0.14 per cent, to close at 1,882.7 points. This marked its third straight day trending downward. 

Nevertheless, the southern market witnessed the number of gainers nearly triple that of decliners, by 238 to 92. Meanwhile, liquidity fell to its lowest level in nearly two weeks, with the total trading value on the HoSE reaching VNĐ33.6 trillion (US$1.3 billion), of which the VN30 group contributed VNĐ19.8 trillion.

The VN30-Index, tracking the 30 biggest stocks on HoSE, barely changed. The index gained slightly by 2 points, or 0.09 per cent, to 2,082.35 points. In the VN30 basket, 16 stocks increased, with one hitting the ceiling price, while 11 decreased. 

This notable divergence among large-cap stocks indicated the lack of a strong leading group to establish a clear trend in the market. As a result, the index hovered within a narrow range throughout the day.

Within the VN30 basket, Duc Giang Chemicals (DGC) saw a strong rise, hitting the maximum daily gain of 7 per cent, following news of its retention in the index. 

Sacombank (STB) recorded an increase of 2.3 per cent, although it failed to maintain the ceiling price achieved earlier in the morning session. 

Conversely, many State-owned stocks experienced significant declines, with Becamex (BCM) and Vietcombank (VCB) dropping over 2 per cent, while Petrolimex (PLX) and PV Gas (GAS) recorded losses exceeding 4 per cent.

Sector-wise, materials and real estate emerged as the highlights of the day. The financial sector exhibited mixed results, although there were more positive performances than negative, with nearly 40 stocks hitting their ceiling prices. 

On the Hanoi Stock Exchange (HNX), the HNX-Index closed higher at 258.43 points, up 5.77 points, or 2.28 per cent. During the session, over VNĐ2.53 trillion worth of shares was traded, equivalent to a trading volume of over 117.3 million shares. 

On the foreign trading front, foreign investors kept net selling on the main exchanges. They net sold nearly VNĐ1.5 trillion on HoSE and VNĐ54 billion on HNX. 

Bizhub