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Sunday, November 29, 2020

Bluechips come under selling pressure

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HCMC – Increased selling pressure hit bluechip stocks and prompted the VN-Index of the Hochiminh Stock Exchange to reverse course to end lower on September 25.

The HCMC market saw 162 stocks rising and 239 others falling. The benchmark index slid 0.31 point, or 0.03% over the session earlier at 908.27. More than 361 million shares worth VND6.2 trillion were traded on the southern bourse, dipping 9.3% in volume and 2.08% in value. Put-through deals contributed over VND840 billion to the overall value.

Property firm VIC was a major contributor to the rally of the main index in the morning, but the selling pressure sent VIC down, ending in the red at the close. Other largecaps such as lenders VCB, TCB, BID, and gas company GAS dropped slightly.

Besides this, brewery firm SAB and housing developer VHM stood at their reference prices. Only dairy firm VNM rose slightly by less than 0.5%.

Meanwhile, bank stock STB staged an outstanding performance in the VN30 basket. It bounced back and closed at its upper limit of VND13,300, with up to 39.32 million shares traded. Financial service provider TCH also ended in an upbeat note, up 0.2% to its intraday high.

In the group of speculative stocks, financial group OGC soared to its ceiling price of VND6,490 but its volume plunged to some 5.4 million shares. Urban development and construction investment company TLD surged as high as 6.7% to reach its upper limit with improved liquidity.

On the northern bourse, the HNX-Index contracted 0.14% to 131.52 points, with 78 advancers and 76 decliners. Similar to the southern bourse, bank stocks of the Hanoi market saw gloomy trade. Two lenders ACB and SHB moved sideways, and their fellow NVB also reversed course to close down by 1.1%.

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