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Thursday, November 26, 2020

Brokers see stocks stage outstanding performance, index down

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HCMC – Strong profit-taking pressure pushed the local stock market down during the last session of this week, September 4, though many securities stocks made headway.

The VN-Index on the southern market underwent strong selloff and fell through the level of 895 points in the morning, before bouncing back thanks to active cash flow.

However, the continued profit-taking pressure prompted the main index to struggle to claw back the balance and recover. Positive trading of some largecap and small stocks on the southern bourse only helped the index regain the level of 900 points.

Closing, the VN-Index lost 2.43 points, or 0.27% against the previous session at 901.54, with 146 winners and 267 losers. Turnover of the HCMC market contracted with volume and value shedding 6.49% and 12.1% at over 346 million shares worth VND6.7 trillion. Shares traded in put-through transactions contributed around VND845 billion to the overall value.

Bluechips such as dairy firm VNM, housing developer VHM, and lender CTG maintained growth or made slight recovery.

Notably, securities stocks were good performers, with CTS, VIX, and WSS hitting their ceiling prices. Other stocks in this group including HCM, AGR, and SHS soared over 2.5%, PSI expanded as much as 3.2%, while BSI, MBS, and VND rose some 1%.

Meanwhile, some bluechips such as brewery SAB, low-cost carrier VJC, and steelmaker HPG reversed course after slight rebound. Gas firm GAS and lender VCB were the two biggest decliners in the VN30 basket as they sank over 1.5%.

On the northern bourse, strongly increased demand buoyed the HNX-Index. It added 0.09 point, or 0.07% versus Thursday to close at 126.15.

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