Broad-based selling pressure saw over 500 stocks decline compared to nearly 240 gainers. Most sectors ended in negative territory, with consumer services, hardware, and banking among the few industries that managed to stay afloat.

BID, CTG, VPB, HDB, VIB, MSB, and OCB remained resilient, finishing in positive territory. However, the banking sector faced significant pressure, with TCB, MBB, ACB, LPB, and STB facing selling pressure.

In the losing camp, telecommunications and energy stocks bore the brunt of the decline. BSR led the energy sector lower, with other oil and gas stocks such as PVS, PVD, and PVC falling over 2%.

Meanwhile, telecommunications stocks VGI, FOX, and CTR also witnessed a broad-based decline, with VGI plunging more than 4%.

Today’s trading value exceeded 18.5 trillion VND. Buying interest surged on the HNX and UPCoM exchanges, while turnover on the HOSE remained on par with the previous session.

Morning Session: Selling Pressure Persists, Banks Support the Index

The market sentiment remained hesitant around the 1,300 level. The VN-Index‘s trend was unclear as it dipped into negative territory during the final minutes of the morning session on October 15. At the midday break, the VN-Index stood at 1,286.33, down 0.01 points. The HNX-Index also struggled, closing at 229.69, a loss of over 1 point.

Banking stocks continued to provide crucial support to the market. BID, CTG, VPB, VIB, VCB, and OCB contributed a combined 2.3 points to the VN-Index‘s performance. However, financial stocks witnessed increased differentiation, with many finishing in negative territory or unchanged.

By the end of the morning session, decliners outnumbered advancers by a wide margin, with over 400 stocks falling compared to nearly 220 gainers. Selling pressure was concentrated in the real estate, energy, and materials sectors.

On a positive note, market liquidity picked up, with the morning session’s trading value surpassing 9 trillion VND across all three exchanges.

10:40 am: Banks Hold Fort

Buying and selling forces were more balanced in the market, and by 10:30 am, the number of gainers and losers was fairly similar, with 278 stocks advancing and 279 declining.

The VN-Index maintained its nearly 4-point gain, buoyed by the financial and banking sectors. CTG, BID, EIB, TPB, and VIB posted solid gains. Among the top contributors to the index’s rise, BID added 1.7 points, while CTG, VCB, VIB, ACB, and TCB also played their part.

Real estate stocks reversed course and slipped into negative territory. DIG plunged over 5%, while other stocks in the sector, including PDR, DXG, and KDH, also faced selling pressure. However, the situation wasn’t entirely bleak, with VPI, HDG, SZC, SIP, and VPH posting modest gains.

The energy and telecommunications sectors were the worst performers, with the former falling nearly 2% and the latter declining over 1%.

Healthcare stocks took the lead, driven by AMV, which hit the daily limit-up, and BBT, which climbed over 13%.

HPG inched up nearly 1%. For the third quarter of 2024, the Hoa Phat Group (HOSE: HPG) reported a 51% year-on-year increase in after-tax profit, reaching 3,022 billion VND.

Market Open: Buyers Take the Upper Hand

Vietnam’s stock market kicked off the session on October 15 with a mild positive bias. By 9:20 am, the VN-Index had climbed nearly 3 points. The early trading dynamics were familiar, with sellers slightly ahead.

Stocks in the consumer staples sector set a positive tone from the get-go, with companies in the livestock industry, such as DBC (+1.3%) and BAF (+2.2%), leading the way. Other names in the sector, including VNM, MSN, CTP, and KDC, also posted modest gains.

Financial and real estate stocks moved higher in unison, although the magnitude of their advances was less convincing.

In the real estate sector, VHM slipped 0.3%, exerting some pressure on the market. Conversely, several real estate stocks, including VPH, CIG, and OGC, soared to their daily limit-up prices.

On the flip side, energy and information technology stocks tilted towards the red. BSR and PVC in the energy sector, along with FPT in the IT sector, edged lower.

Yến Chi

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