The stock markets on Nov. 15 could not retain earlier gains as a sell-off followed a modest rally led by purchases of shares at low prices.

The VN-Index on the HCM Stock Exchange shed 0.2 percent to 386.91 points. Only 66 listed stocks increased, while the other 204 codes retreated or closed unchanged.

Trading value jumped by about 45 percent over the previous day's level to 464.6 billion VND (22 million USD), and trading volume rose to 28.76 million shares.

Most blue chips tumbled, such as property developer Tan Tao (ITA), insurer Bao Viet (BVH), Military Bank (MBB), Phu My Fertiliser (DPM) and Financial Conglomerate Ocean Group (OGC) all losing between 1.1-3.6 percent and PetroVietnam Finance (PVF) hitting the floor price.

Of the 30 leading shares in terms of capitalisation and liquidity tracked by the VN30, only seven managed to rally.

The index, with only a small boost, ended 1.13 percent lower at 457.08 points.

On the Hanoi Stock Exchange, the HNX-Index fell 1.17 percent, reaching 51.69 points. The number of gainers almost doubled that of losers, while most of the stocks finished the day unchanged.

Market value, however, climbed 37.7 percent compared to Nov. 14's figure to 162.5 billion VND (7.7 million USD) on a volume of 27.5 million shares.

The HNX30, representing the northern bourse's top shares, also slid 1.5 percent to 94.25 points.-VNA