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Shares make gains, market experiences strong volatility
Shares extended gains on Tuesday but the market experienced strong volatility with big variation among sectors.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.22 per cent to end the session at 1,177.64 points.
The index had risen 0.13 per cent to end Monday's session at 1,175.04 points.
Nearly 598.3 million shares were traded on the southern bourse, worth VND15.4 trillion (US$669.8 million).
Market breadth was neutral with 233 gainers and 201 losers.
“VN-Index mainly struggled around the reference level Tuesday. In addition, foreign investors were net sellers on both HSX and HNX,” said BIDV Securities Co.
“Market breadth turned to equilibrium with liquidity not much different from the previous session.
“According to our assessment, the VN-Index is likely to continue fluctuating with a narrow range in the next session,” the company said.
Foreign investors net sold VND700 billion on HOSE, including dairy firm Vinamilk (VNM) (VND106.4 billion), Vietinbank (CTG) (VND77.3 billion) and Hoa Phat Group (HPG) (VND69.4 billion). They were net sellers on the HNX with a value of VND5.92 billion.
Among sectors, banking stocks differed. Techcombank (TCB), Military Bank (MBB) and Bank for Investment and Development of Vietnam (BID) were the stocks that contributed to the index's gain.
Vietcombank (VCB), VPbank (VPB), and Vietnam International Bank (VIB) were losers with negative effects.
The real estate group also witnessed disparity. Small and medium caps were the most negative group. Kinh Bac Corporation (KBC), Khang Dien House (KDH), Hai Phat Invest (HPX), Petroleum Industrial & Civil Construction JSC (PXI) and Industrial Urban Development JSC No 2 (D2D) recorded a significant decrease.
Aviation performed well with Airports Corporation Of Vietnam (ACV), Vietjet (VJC) and Vietnam Airlines JSC (HVN) all making gains.
The large-cap tracker VN30-Index gained 0.16 per cent to stay at 1,182.47 points.
Fourteen of the 30 large-cap stocks in the VN30 basket decreased while fifteen made gains.
On the Ha Noi Stock Exchange, the HNX-Index rose 0.34 per cent to end Tuesday at 238.78 points.
The index had risen 2.94 per cent to end Monday at 237.97 points.
Nearly 139.4 million shares were traded on the northern market, worth VND2.3 trillion.
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