Saturday, May 25, 2024 11:35:34 PM - Markets open
VN-INDEX 1,261.93 -19.10/-1.49%
HNX-INDEX 241.72 -5.19/-2.10%
UPCOM-INDEX 94.40 -0.77/-0.81%
Banks and oil stocks endure a tough day, leaving with market volatility
Vietnam News - 4/10/2024 4:35:28 PM
 (0 ratings. You must sign in to rate.)

Wednesday witnessed a turbulent trading session as banks and oil stocks grappled with mounting pressures, resulting in a notable downturn in their performance.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index lost 0.34 per cent, to close at 1,258.56 points.

The breadth of the market was negative with 177 gainers and 275 losers. Matching value on the southern bourse reached VNĐ16.8 trillion (US$673.3 million), equal to a trading volume of more than 702 million shares.

The 30 biggest stocks tracker VN30-Index lost 0.24 per cent, to end at 1,263.82 points. Eleven in the VN30 basket climbed, while 18 decreased.

Financial news site said many oil and gas stocks suffered from correcting pressure and fell deeply, including PetroVietnam Gas JSC (GAS), PV Power (POW), PetroVietnam Drilling & Well Services Corporation (PVD), PV OIL (OIL), Bình Sơn Refinery (BSR) and PetroVietnam Technical Services Corporation (PVS).

Banking stocks also lost ground with most of the stocks in the basket declining, including Vietinbank (CTG), Asia Commercial Bank (ACB), Tiên Phong Bank (TPB), National Commercial Joint Stock Bank (NVB), VPBank (VPB), Military Bank (MBB), Bank for Investment and Development of Vietnam (BID), Techcombank (TCB) and Sacombank (STB).

The securities group was also hit strongly, with losers being VNDIRECT Securities Corporation (VND), MB Securities JSC (MBS), Việt Dragon Securities Corporation (VDS) and Vietcap Securities Joint Stock Company (VCI).

The seafood processing industry showed negative performance. Stocks in this sector, including Vĩnh Hoàn Corporation (VHC), Nam Việt Corporation (ANV), Sao Ta Foods Joint Stock Company (FMC), International Development & Investment Corporation (IDI) and Camimex Group JSC (CMX) all displayed losses.

It is expected that the supply will increase again and put pressure on the market. Therefore, traders should monitor the supply and demand at the resistance area to reassess the market's condition. At the same time, they should still consider rallies to take profits or reduce the proportion of stocks that are struggling at resistance zones to avoid risks, said Việt Dragon Securities Co.

The HNX-Index on the Hà Nội Stock Exchange (HNX) ended the trading day at 238.79 points, a fall of 0.66 per cent.

During the session, nearly 56.6 million shares were traded on the northern market, worth VNĐ1.2 trillion. — VNS

Read original article here

Newer News
16:06 Market plummets as liquidity surges to eight-week high
08/05 Positive investment opportunities in Vietnamese stocks with potential Fed rate reduction
08/05 VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
06/05 Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
02/05 Market likely to face some fluctuations
02/05 Outstanding margin loans reach record high amidst strong equity growth
02/05 Interest rates to rise but not have major impact on stock market: economist
19/04 Market upgrade to begin a new phase of development
16/04 Market plunges, HOSE's value evaporates $10 billion
16/04 VN anticipates market impact as KRX stock trading system launches
Older News
05/04 Oil stocks see bright prospect amid rising prices
05/04 HoSE's stock market capitalisation in March rises by 3.1% compared to February
03/04 Stocks rebound as cash flow surges into large-cap shares
23/03 Shares sustain gains on strong investor confidence
20/03 Vietnamese securities companies race to boost capital amid high market demand
19/03 Large-caps pressured as increased profit-taking drives share decline
18/03 Market likely to be affected by Fed's meeting this week
18/03 Investors show strong interest in dividends at annual shareholders' meetings
15/03 VN-Index corrects, liquidity stays high
14/03 Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
Newsletter Signup
Top Stories
VN adds over 110,000 new securities accounts in April, bringing total to 7.7 million
Cautious rise amid low supply and cash flow, investors advised to monitor resistance area
Interest rates to rise but not have major impact on stock market: economist
Businesses concerned about rising exchange rate pressure
Gold bar auction to be resumed after 11 years of suspension
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,261.93 -19.10/-1.49%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.