Market finishes lower for second day in a row

Market finishes lower for second day in a row

Trading liquidity across the two main exchanges continued to contract, with total trading value reaching about VNĐ13 trillion (US$500 million).

Customers conduct transactions at a Sacombank office. Shares of the lender dropped over 1.8 per cent on Tuesday, weighing on the market. — Photo courtesy of the bank

The stock market remained subdued on Tuesday as trading liquidity continued to decline, with the VN-Index spending most of the session in negative territory and failing to regain upward momentum.

On the Hochiminh Stock Exchange (HoSE), the VN-Index fell 2.95 points to reach 1,777.73 points, while the HNX-Index on the Hanoi Stock Exchange (HNX) also lost 1.4 points to end at 269.91 points.

Trading liquidity across the two main exchanges continued to contract, with total trading value reaching about VNĐ13 trillion (US$500 million).

Market breadth remained in the negative territory, with 202 stocks advancing while 238 declined.

Among large-cap stocks, the VN30 basket recorded 15 decliners, 11 gainers and four unchanged stocks. The VN30-Index lost more than eight points to hit 1,914 points, reflecting continued correction pressure among leading stocks.

Large-cap stocks were the main drag on the VN-Index. 

Vingroup (VIC) fell by 0.8 per cent, while LPBank (LPB) dropped by 4.4 per cent and Sacombank (STB) declined by 1.8 per cent. 

Vietcombank (VCB), MBBank (MBB) and Techcombank (TCB) lost 0.5 per cent, 1 per cent and 0.8 per cent, respectively, while Vinpearl (VPL) and FPT Corporation (FPT) both fell by 0.8-0.9 per cent.

Novaland (NVL) and Phu Nhuan Jewellery (PNJ) continued to hit their daily floor prices, extending their recent declines.

The two stocks recorded their second consecutive session at the floor. NVL closed at VNĐ11,050 per share, while PNJ ended at VNĐ30,700 per share.

Foreign investors also maintained their selling trend, recording net sales of nearly VNĐ377 billion on the market.

On HoSE, they net sold VNĐ396 billion. VPBank (VPB) faced the strongest foreign selling, with net sales of about VNĐ246 billion. 

Today's session came near the end of the month, with the VN-Index remaining under pressure after recent volatile trading. Without a significant change in the Wednesday session, the VN-Index could record a monthly decline of more than 50 points.

MBS Securities said the VN-Index and the broader stock universe remain out of sync.

According to MBS, the index has remained almost unchanged since the beginning of the year, but excluding Vingroup stocks, the rest of the market has lost 106.6 points, equivalent to a 6 per cent decline.

MBS also forecasts that total market earnings in the third quarter will increase 25 per cent year-on-year. The growth rate will likely be lower than in the first two quarters, as higher interest rates and the low comparison base from 2025 are no longer as supportive. 

Bizhub