Market ends mixed, VN-Index fall slightly

Market ends mixed, VN-Index fall slightly

The benchmark index decreased, but gains in oil and gas stocks helped cushion the losses.

PV Gas LPG storage tanks at the Thị Vải Terminal. Shares of PV Gas hit the maximum daily gain on Friday, cushioning the index's adjustment. — Photo pvgas.com.vn

Market corrected on Friday after the VN‑Index reached a historical high of 1,925 points in the previous session.

On the Hochiminh Stock Exchange (HoSE), VN‑Index fell 3.86 points, or 0.2 per cent, to 1,921.6 points. 

Trading remained active. On HoSE, the market recorded over VNĐ23 trillion in value, equivalent to more than 744 million shares traded. The market breadth leaned toward decliners, with 187 stocks down and 120 up. 

The VN30‑Index, which tracks 30 biggest stocks on HoSE declined more sharply, down 18.04 points to 2,050.58 points. 

In contrast, the HNX‑Index gained 2.35 points, or 0.92 per cent, to 257.42 points.

Sector divergence was especially visible among large-cap stocks. Vingoup (VIC) was the strongest drag on VN‑Index, pulling it down by nearly three points. Several other large bluechips also weighed negatively, including VPBank (VPB), BIDV (BID), Hoa Phat Group (HPG), Mobile World Investment Corporation (MWG), Vietcombank (VCB), Masan Group (MSN) and FPT Corporation (FPT).

On the other hand, the energy sector continued to be highlighted as a support for the market.

PV Gas (GAS) contributed positively the most to VN‑Index, adding more than 3.2 points, followed by Petrovietnam Refining And Petrochemical Corporation (BSR), Vietnam Rubber Group (GVR), Vinhomes (VHM) and Petrolimex (PLX). The strong rise in oil and gas-related names helped prevent a deeper selloff.

A notable highlight was Thaiholdings (THD), which kept rising to the ceiling price at VNĐ50,800 per share, marking its fourth consecutive ceiling-price session. At this price level, the company's market capitalisation is reported at nearly VNĐ19.6 trillion.

THD has maintained a streak of continuous ceiling gains since May 12 and its share price has increased by around 40 per cent over a few sessions. This is the highest level since early August 2022. 

Over the past month, THD is cited as the strongest performer on HNX, rising 67.11 per cent from VNĐ30,400 to VNĐ50,800. However, trading volume remains limited, with THD liquidity still described as relatively low at only several tens of thousands of shares per session.

Foregin investors were net sellers, offloading more than VNĐ801 billion on HoSE.

Bizhub