Illustrative image (Source: VNA)
Hanoi (VNA) - The VN Index, Vietnam’s benchmark stock index, on January 10 declined the first time after rallying for seven consecutive trading days.

The benchmark index inched down 0.2 percent to close at 681.07 points. The southern exchange index had increased by 2.9 percent in the previous seven sessions.

More than 87.8 million shares were exchanged on the southern bourse, worth 1.96 trillion VND (87.24 million USD). Tan Tao Investment and Industry Corp (ITA) was the most active stock with nearly 5.3 million of its shares being traded.

The southern bourse was driven down by financial-banking stocks, which retreated from previous gains. Those included Vietcombank (VCB), Vietinbank (CTG), Eximbank (EIB) and Bank for Investment and Development of Vietnam (BID).

Those stocks fell between 0.6 percent and 1.3 percent. VCB rose 4.6 percent in the previous three days, CTG surged 14 percent in six days, and BID soared 14 percent in the previous five sessions.

In the insurance and brokerage sectors, insurer Bao Viet Holdings (BVH) slid 1.3 percent from a five-day increase of 5.8 percent, and Sai Gon Securities Inc (SSI) went down 0.7 percent after rising 4.6 percent in the same period.

The real estate sector was also negative, including HCM City Infrastructure Investment JSC (CII) and Vingroup (VIC) among decliners.

CII fell 1.6 percent from a two-day rise of 7.3 percent and VIC dropped 0.7 percent after gaining 3.8 percent in the previous four sessions.

On the opposite side, dairy producer Vinamilk (VNM) and Faros Construction Corp (ROS) were among the few large-cap stocks that made gains.

“The benchmark VN Index may not reach the resistance level of 690 points in the short term as stocks are suffering from profit-taking while there is little good information for leading industries and low-price speculative stocks are becoming risky to investors,” BIDV Securities Corp (BSC) said in a note.

The index would have to test the support level of 680 points in the next few sessions if the market demand is not positive, BSC said.

On the Hanoi Stock Exchange, the HNX Index gained 0.4 percent to end at 83.06 points. The northern stock index has risen 2.1 percent since January 6.

More than 30.7 million shares were exchanged on the northern market, worth 446.8 billion VND.

Large-cap stocks on the northern bourse, including Asia Commercial Bank (ACB), Sai Gon-Hanoi Bank (SHB) and Vietnam Construction and Import-Export JSC (VCG), made gains.-VNA