VN-Index falls for fifth day in a row

VN-Index falls for fifth day in a row

During the early session, the index traded in a tug-of-war trend, but the market gradually weakened as trading activity remained subdued and lacked leading stocks that typically provide momentum.

A Techcombank teller talks to customers at its transaction office. Shares of the lender plunged over 1.2 per cent on Monday, weighing on the market. — Photo vietnamplus.vn

The stock market opened the first day of June with a negative tone as selling pressure intensified in large-cap stocks, particularly in the real estate segment, dragging the VN-Index to below the 1,850-point threshold.

During the early session, the index traded in a tug-of-war trend, but the market gradually weakened as trading activity remained subdued and lacked leading stocks that typically provide upward momentum. The downward trend widened further in the afternoon.

By the end of the session, the VN-Index on the Hochiminh Stock Exchange (HoSE) declined 18.95 points, or 1.02 per cent, to 1,844.54 points. This marked the fifth falling session in a row.

In contrast, on the Hanoi Stock Exchange (HNX), the HNX-Index rose 10.24 points, or 3.47 points, to 305.18 points.

Market liquidity remained weak. On HoSE, total volume reached nearly 507 million shares, with a value of more than VNĐ15 trillion (US$570 million). 

Despite the poor performance, market breadth was still tilted toward gainers as 330 stocks rose and 290 fell. HoSE specifically saw 165 stocks advancing, 133 declining and 66 unchanged.

The VN30-Index, tracking the 30 biggest stocks on HoSE, declined 7.35 points, or 0.37 per cent, to 1,989.71 points. 

Vin-family stocks, including Vingroup (VIC), Vinhomes (VHM), Vincom Retail (VRE) and Vinpearl (VPL), posted steep drops, causing the VN-Index to lose about 15 points out of the nearly 19-point decline.

Banking stocks also added downward pressure on the VN-Index. Maritime Bank (MSB) fell to the floor limit, while Sacombank (STB) declined 1.47 per cent, TPBank (TPB) dropped 1.26 per cent and Techcombank (TCB) dipped 1.22 per cent.

In energy, oil and gas names dropped broadly, with Petrovietnam Refining and Petrochemical Corporation (BSR) down 3.87 per cent, Petrolimex (PLX) down 2.05 per cent, PV Drilling (PVD) down 1.64 per cent and PetroVietnam Technical Services Corporation (PVS) down 1.03 per cent.

The losses were capped by gains in the securities sector. VNDirect Securities (VND) rose 4.15 per cent, Saigon - Hanoi Securities (SHS) gained 1.11 per cent, MB Securities (MBS) went up 1.01 per cent, VIX Securities (VIX) increased 1.13 per cent, VietinBank Securities (CTS) rose 1.83 per cent and Vietcap Securities (VCI) was up nearly 1 per cent.

Foreign investors continued net selling on HoSE for the seventh consecutive session, offloading over VNĐ646 billion. The top three net-sold stocks were Asia Commercial Joint Stock Bank (ACB), BSR and MSB. 

Bizhub