VN Index takes nosedive due to selling pressure

28-Oct-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

Strong selling pressure drove the local stock market down today, October 26, with the VN Index of the Hochiminh Stock Exchange losing 10.46 points, or 1.09%.

With losing stocks outnumbering winners by 286 to 137, the benchmark index closed the day at 950.8 points.

Trade volume totalled 428.25 million shares worth nearly VND8.6 trillion, inching down 5.36 percent and 9.61%, respectively, over the previous session. Nearly 23.5 million shares valued at VND597.13 billion were traded in block deals.

In the VN30 basket, only seven stocks advanced, with consumer goods stock MSN adding 2.2 percent at VND87,900, and six others picking up some 1%.

Most bank stocks in the basket closed at their lowest prices of the day.

Specifically, BID lost 4.2 percent at VND41,000; CTG dropped 4.1 percent at VND30,500; STB plummeted 3.09 percent at VND14,100; and VPB plunged 4.44 percent at VND24,300.

Small and medium stocks, such as real estate firms FLC and HAG, agricultural firm HAI and industrial zone developer ITA, also closed deep in the red.

The HNX-Index of the Hanoi Stock Exchange also lost 1.88%, or 2.67 points, against the session earlier, at 139.03 points. There were 55.67 million shares worth VND776.33 billion changing hands on the northern bourse.

Many large-cap stocks tumbled. For example, lender ACB slid an astounding 3.1 percent at VND24,800, while construction firm VCG fell 4.1 percent at VND41,800. In addition, gas firm PVS slipped 2.9 percent at VND13,500.

ACB and PVS were the most traded stocks on this market, with 11.66 million and 6.8 million shares, respectively, matched.


Category: Stocks, Vietnam

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