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Market reverses rally on losses of oil stocks
The market fell on Thursday morning, weighed by risk-lowering sentiment. However losses were capped by gains of big stocks.
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index dropped 1.21 points, or 0.1 per cent, to 1,248.55 points. It had rose for three consecutive sessions this the week.
The market's breadth was negative, with more stocks declining, while liquidity remained low.
The benchmark index's reversal was due to losses of some large-cap stocks, especially in the energy sector. But the VN30-Index, tracking the 30 biggest stocks on the HoSE, still ended the morning trade with an increase of 3.35 points, or 0.26 per cent, to 1,273.18 points.
In the VN30 basket, 11 stocks jumped, while 17 slid and two stayed flat.
The HNX-Index on the Ha Noi Stock Exchange (HNX) dropped 0.77 points, or 0.26 per cent, to 297.34 points.
Leading the bearish trend was PV Gas (GAS), down 2.05 per cent. It was followed by BIDV (BID), Masan Group (MSN) and Sabeco (SAB), both down at least 1.65 per cent this morning.
Other oil stocks posting great losses were PetroVietnam Technical Services Corporation (PVS), PV Oil (OIL), and PV Drilling (PVD), down in a range of 1.53-2.06 points.
Cushioning the downtrend, some big names still kept their rallies going, of which Vietcombank (VCB) was the biggest gainer, up 1.26 per cent.
Vinhomes (VHM), Novaland (NVL), VPBank (VPB), FPT Corporation (FPT) and Techcombank (TCB) also supported the uptrend.
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