February 21: HNX-Index Dips on Profit-taking

23-Feb-2012 Intellasia | FPTS | 7:01 AM Print This Post

Stocks on the Hanoi Stock Exchange declined for the first time in four days in a dramatic trading day, dragging the market benchmark HNX-Index from a three-month high, as investors sold to take the margin.

“The trading atmosphere is fantastic,” a stock analyst in Hanoi said. “The strong appetites for shares and profit-taking selling pressures swayed the market between gains and losses a few time before settling in red.”

There is no doubt about the uptrend, he said, citing the reason for the renewed wave of investors despite profit-taking pressures. “When investors are bullish, everything looks good.”

The HNX-Index, the measure of 394 stocks, lost 0.38 points, or 0.59 percent, to end at 63.89. Yesterday, it made the biggest gain in nearly one year to hit the highest close since November 10, 2011.

The market breadth was neutral on the northern exchange. Among index members, 130 rallied, 133 tumbled, 70 closed unmoved, and 62 were untraded.

The market volume was up 52 percent from a day earlier to 80.6 million shares and the value rose 48 percent to 648 billion dong.

PetroVietnam Construction (PVX), the most active on the measure with 10.6 million shares changed hands, climbed 4.6 percent to end at 9,100 dong.

VNDirect Securities (VND), coming second in liquidity on a trade of 9.4 million units, leaped 5 percent to close at 8,500 dong per share.

Hanoi-based lender Habubank (HBB) closed flat at 4,800 dong on a trade of 7.25 million shares – the third most active.

At the close, 50 stocks were traded at ceiling prices which were capped at 7 percent a day by market regulators.

VNT was the biggest gainer, adding 7 percent to close at 15,300 dong. APP was the biggest loser, erasing 6.9 percent to 10,800 dong. Biggest movers had very small traded volumes.


Category: Stocks

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