Local shares end down on late sell-offs
Selling pressure increased at the end of October 10's trading session while purchasing demand was not enough to save indices from falling.
The Tan Viet trading floor in Hanoi (Photo: VNA)Hanoi (VNS/VNA) - Selling pressure increased at the end of October 10's trading session while purchasing demand was not enough to save indices from falling.
Vietnam’s benchmark VN-Index ended on October 10 on a negative note, dragged down by large-cap stocks. It edged down 0.22 percent to close at 993.96 points.
The benchmark index inched up 0.01 percent to close at 996.19 points on October 9.
The HNX Index on the Hanoi Stock Exchange lost 0.47 percent to end at 113.76 points.
The northern market index lost 0.07 percent to end at 114.30 points on October 9.
Nearly 238 million shares were traded on the two local exchanges, worth 5 trillion VND (212 million USD).
The blue chip VN30 Index dropped 0.11 percent to stand at 966.27 points at the end of afternoon trading.
On a sector basis, 15 of the 20 saw share prices drop, including real estate, securities, technology, banking, petroleum, food and beverages and seafood processing.
The 15 industry indices were down between 0.11 and 2.15 per cent, data on vietstock.vn showed.
A number of pillar stocks were badly hit, including Vietnam Joint Stock Bank for Investment and Development (BID), Masan Group (MSN), food producer Kido Group (KDC), Military Bank (MBB) and Nova Land Investment Group Corporation (NVL).
Oil and gas stocks fell across the board, led by PetroVietnam Drilling & Well Services Corporation (PVD) (4.2 percent), Drilling Mud Joint Stock Corporation (PVC) (2.4 percent) and PetroVietnam Technical Services Corporation (PVS) (2.6 percent).
The drop-off was decelerated thanks to support from large caps such as Mobile World Group (MWG), FLC Faros Construction Joint Stock Company (ROS), brewery Sabeco (SAB), real estate developers Vinhomes (VHM) and Vingroup (VCG) and budget carrier Vietjet (VJC).
According to Bao Viet Securities Company (BVSC), if the market rebounds in the next session it could revert to the uptrend established in July.
BIDV Securities Company (BSC) said the market is in a corrective phase as investors continue to wait for supportive information from business results in the next two weeks as well as the local and global markets.
The UP-Index on the Unlisted Public Company Market (UPCoM) gained 0.23 percent to finish at 53.82 points.-VNS/VNA
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