The market plummeted suddenly in the last 20 minutes of trading on April 10 despite rising for almost the entire session, pushing the VN-Index down by nearly 14 points, or 2.74 percent, to close at 496.50 points.

An unexpected reduction of the gasoline price on April 9 helped lift shares on the Ho Chi Minh Stock Exchange in the morning, but massive sell-offs of blue chips towards the end of the afternoon pulled the market down.

The VN30, tracking the top 30 shares by market capitalisation and liquidity, fell by a more significant 30.5 percent to stand at 558.37.

Five of the top 30 shares dropped to the floor price, including Bao Viet Holdings (BVH), PetroVietnam Finance (PVF), Ocean Group (OGC), Vietcombank (VCB) and Southern Rubber Industry (CSM).

Other heavy weight shares such as Vinamilk (VNK), Hoa Phat Group ( HPG ) and FPT Corp (FPT) also fell hard.

Foreign investors concluded the day as sellers on the southern market, unloading 65.23 billion VND (3.1 million USD) worth of shares.

Trading improved with 69 million shares exchanged, worth over 1.43 trillion VND (68.1 million USD) an increase of 10 percent in volume and 30 percent in value compared to the previous day’s levels.

Tan Tao Investment Industry (ITA) was still most active code by the end of the session exchanged. It fell 4.23 percent to close at 6,800 VND a share.

On the Hanoi Stock Exchange, the HNX-Index also went down 1.69 points, with total trading value of 445 billion VND (21.2 million USD).

Sai Gon-Hanoi Bank (SHB) shares continued to be traded actively with nearly 15 million shares changing hands. The stock decreased 5.5 percent to settle at 6,900 VND a share.-VNA