VN-Index ends four-day rally
The benchmark VN-Index sank for the first time in the last five sessions on March 9 as oil and gas stocks slumped on the back of global oil losses.
Investors watch stock prices on the MB Securities trading floor (Source: VNA)On the HCM Stock Exchange, the VN-Index edged down 0.11 percent to close at 715.8 points. The southern market index had gained 1.3 percent in the past five sessions.
Large-cap stocks saw a divergence as major firms like dairy giant Vinamilk (VNM), brewery Sabeco (SAB), insurer Bao Viet Holdings (BVH) and real estate developer VinGroup (VIC) lost value under high selling pressure.
Due to drops in global oil prices, big energy firms such as PV Gas (GAS), PetroVietnam Drilling and Wells Service (PVD), PetroVietnam Technical Service (PVS) and PetroVietnam Drilling Mud (PVC) declined between 1.7 percent and 2.4 percent.
On the bright side, bank stocks performed well and cushioned the market. Out of nine listed banks, only Eximbank (EIB) and Sacombank (STB) slipped; others increased slightly, led by Military Bank (MBB) up 3.2 percent while Vietcombank (VCB) and Vietinbank (CTG) rising by less than 1 percent.
On the Hanoi Stock Exchange, the HNX-Index extended a rally to three consecutive days, up 0.21 percent to end at 87.72 points, lifting the three-day growth to 1.3 percent.
Liquidity remained high with a total of 238 million shares worth a combined 4.2 trillion VND (184.2 million USD) traded in the two markets.
Foreign investors were net sellers for 66.3 billion VND in the HCM City’s market on March 9 but they picked up shares worth a net value of 4.5 billion VND on the Hanoi exchange.-VNA
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