Market mixed, VN-Index extends losses

Market mixed, VN-Index extends losses

Following two sharply declining sessions, investor sentiment remains cautious, with buying activity almost entirely absent.

A worker collects rubber latex at a plantation of Vietnam Rubber Group. Shares of the company jumped more than 3 per cent on Tuesday, cushioning the market's downtrend. — Photo vrg.vn

Indices were mixed on Tuesday, with the market benchmark VN-Index marking its sixth consecutive day of falling and erasing the gains achieved in the previous week. 

Following two sharply declining sessions, investor sentiment remains cautious, with buying activity almost entirely absent.

On the Hochiminh Stock Exchange (HoSE), the VN-Index decreased by 13.22 points, or 0.72 per cent, to 1,830.50 points. This ongoing decline is gradually diminishing the positive momentum from the beginning of the year. 

However, the market breadth was positive, as 171 stocks advanced while 138 fell. The total trading volume reached over 788.8 million shares, with a transaction value of nearly VNĐ25.6 trillion (US$978.5 million), a 28 per cent decrease in volume and a 20 per cent drop in value compared to the previous session.

The VN30-Index also extended losses, closing at 2,019.88 points. It declined by 12.4 points, or 0.61 per cent. Seventeen stocks in the VN30 basket ticked up, while 13 went down. 

Significant pressure came from Vin-family stocks within the VN30 basket, where Vinhomes (VHM) saw heavy selling, plunging by its floor limit of 7 per cent, and Vingroup (VIC) dropped 5.6 per cent.

Together, these two stocks contributed more than 20 points to the VN-Index decline. 

Another stock, Vincom Retail (VRE), nearly lost 6 per cent but managed to close the session down only 0.3 per cent.

Conversely, the oil and gas sector provided some support, with both PV Gas (GAS) and Petrolimex (PLX) hitting their ceiling prices at VNĐ115,300 and VNĐ60,900, respectively. 

FPT also contributed positively, rising by 3.7 per cent, while Vietnam Rubber Group (GVR) increased by 3.1 per cent. However, these gains were not substantial enough to significantly impact the VN-Index.

The small- and mid-cap stocks in the oil and energy sectors stood out, with PV Drilling (PVD) hitting its ceiling and Binh Son Refining and Petrochemical (BSR) increasing by 3.1 per cent. 

On the Hanoi Stock Exchange (HNX), the HNX-Index surged in the afternoon session, driven by gains from major stocks. 

The index gained 5.54 points, or 2.24 per cent, to 252.84 points. The trading volume surpassed 62 million shares, with a total value of over VNĐ1.4 trillion.

Foreign investors returned to a net selling position on the two main exchanges, offloading more than VNĐ106 billion on HoSE after a prior buying spree and nearly VNĐ24 billion on HNX. 

Bizhub