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Shares decline on selling pressure, bottom purchase supports market

日期:2024-04-04 21:14:51 来源:未知 浏览量: 字号:[ ] 视力保护色:

Shares decline on selling pressure, bottom purchase supports market

HÀ NỘI — Shares ended lower on Wednesday due to selling pressure pushing large cap stocks down, but bottom purchase demand increased towards the end of trading, helping narrow the market’s decline.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange lost 0.0 九 per cent to close Wednesday at  八 八 九. 三 二 points.

The southern index had risen 0. 二 一 per cent to close Tuesday's trading session at  八 九0. 一 四 points.

More than  三 一 八. 四 million shares were traded on the southern bourse, worth VNĐ 六 trillion (US$ 二 五 八. 二 million).

Market breadth was neutral with  一 八 五 decliners and  二0 二 gainers.

Shares decline on selling pressure, bottom purchase supports market

According to Thành Công Securities Co, after the VN-Index successfully breaks the  九00-point threshold, there will be corrections in the short term as the market will need more time to accumulate before returning to stronger momentum.

“It is forecasted that the VN-Index will continue to struggle in the next sessions, differentiation will happen in large-cap stocks,” the company said.

The VN 三0-Index, which tracks the performance of the  三0 largest stocks by market capitalisation and liquidity on HoSE, decreased 0. 三 八 per cent to close Wednesday at  八 二 四. 四 二 points.

In the VN 三0 basket,  二0 of the  三0 largest stocks by market capitalisation and trading liquidity increased. Eight lost ground and two were unchanged.

Large-caps were weighed down by selling pressure, including Bank for Development and Investment (BID), Hoà Phát Group (HPG), Military Bank (MBB), Vietcombank (VCB), PetroVietnam Gas JSC (GAS), Vinamilk (VNM), Vietinbank (CTG), FPT Corporation (FPT), Vietjet (VJC), Sabeco (SAB), Techcombank (TCB) and Phú Nhuận Jewelry (PNJ).

But sharp falls sending stocks to attractive prices triggered investors to bottom-fish, narrowing the decline of the overall market. Notable gainers included Masan Group (MSN), Mobile World Group (MWG), Novaland (NVL), Vinhomes (VHM), Vincom Retail (VRE) and SSI Securities Incorporation (SSI).

On a sector basis, insurance, information and technology, healthcare, energy, banking, construction and construction materials were among the losers on Wednesday.

On the Hà Nội Stock Exchange, the HNX-Index was up 0. 九0 per cent to end Wednesday at  一 二 五. 九 三 points.

Nearly  四 七. 七 million shares were traded on the northern market, worth VNĐ 六 二 一 billion.

The northern index had dropped 0. 五0 per cent to close Tuesday at  一 二 四. 八0 points.

Shares decline on selling pressure, bottom purchase supports market

Foreign investors net sold VNĐ 一 六 九. 三 四 billion on HOSE. They were net sellers on the HNX with the value of VNĐ 三. 一 四 billion. — VNS

 

 

Shares decline on selling pressure, bottom purchase supports market