Big caps save VN-Index from steep fall
The Saigon Times
|An employee monitors stock prices on a computer screen at Hochiminh City Securities Corporation. Good performance of some largecap stocks such as VIC, HPG, ACB helped the VN-Index of the HCMC market avoid falling deeply today, March 26 – PHOTO: THANH HOA|
HCMC – Good performance of some largecap stocks such as VIC, HPG, and ACB helped the VN-Index of the HCMC market avoid falling deeply, while on the Hanoi market, turnover expanded significantly today, March 26.
In the second half of the morning phase, selling pressure became more intense after news about fresh Covid-19 cases linked to illegal entry was released, leaving the benchmark index shedding over 25 points to stay below the 1,140-point level. However, the active participation of bottom fishers then drove the main index up above 1,150 points.
Entering the afternoon phase, a system error frequently facing the southern bourse left a little impact on the index, but the rise of bigcaps narrowed the index’s morning loss.
Closing the day, the benchmark index edged down 0.89 point, or 0.08% over the session earlier at 1,162.21, with 122 winners and 339 losers. Turnover on the southern bourse contracted 3% in volume and 10.4% in value at over 670 million shares and more than VND15 trillion, including some VND1.4 trillion worth of shares traded in block deals.
Realty firm VIC improved 1.81% with 2.9 million shares transacted. Steelmaker HPG soared 2.67% to its intraday high following its announcement to eye a 31% business growth rate this year.
Similarly, lender ACB, low-cost carrier VJC, industrial park developer BCM, mobile phone retailer MWG rose around 1-2%.
Meanwhile, poor-performing stocks just dropped around 1%. Retailer VRE, the biggest loser, lost 1.98%.
Among speculative stocks, property developer FLC again stole the limelight as it gained 5.7% to VND11,050, with a matching volume exceeding 52.5 million shares.
On the northern bourse, bottom fishing activities remained active, enabling the HNX-Index to reverse course to end higher by 3.77 points, or 1.41% against the previous session at its intraday high of 270.96, with the numbers of winners and losers tied at 102.
Notably, over 224 million shares worth more than VND3.4 trillion were transacted on the Hanoi market, soaring up to 95% in volume and a whopping 120% in value compared to Thursday’s session.