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Source: VietstockFinance
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Broad-based selling pressure saw over 500 stocks decline compared to nearly 240 gainers. Most sectors ended in negative territory today. The consumer services, hardware, and banking sectors managed to stay in the green…
BID, CTG, VPB, HDB, VIB, MSB, and OCB remained resilient and closed higher. However, the banking sector still faced significant pressure, with TCB, MBB, ACB, LPB, and STB facing selling pressure…
In the decliners’ camp, the telecommunications and energy sectors witnessed the steepest falls today. Within the energy sector, BSR led the losses. Oil and gas stocks also suffered declines, with PVS, PVD, and PVC all falling over 2%.
Meanwhile, in the telecommunications sector, VGI, FOX, and CTR fell in unison. Notably, VGI tumbled more than 4%.
Today’s trading value exceeded 18.5 trillion VND. Buying interest increased on the HNX and UPCoM exchanges. On the HOSE exchange, liquidity was on par with the previous session.
AM Session: Selling Pressure Mounts, Banks Support the Index
The market sentiment remained hesitant around the 1,300 level. The VN-Index’s trend was unclear as the index fell back into negative territory in the final minutes of the morning session on October 15. At the midday break, the VN-Index stood at 1,286.33 points, down 0.01 points. The HNX-Index also struggled, closing at 229.69 points, a loss of more than 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 stocks closing in the red or unchanged.
Source: VietstockFinance
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By the end of the morning session, decliners far outnumbered advancers, 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 turnover picked up, with trading value in the morning session 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 as of 10:30 AM, the number of gainers and losers was fairly similar, with 278 stocks advancing and 279 declining.
The VN-Index maintained its gains of nearly 4 points, supported 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 made notable contributions. It’s evident that the banking sector played a pivotal role in propping up the VN-Index today.
Real estate stocks reversed course and entered negative territory. DIG plunged over 5%, while other stocks in the sector, such as PDR, DXG, and KDH, also faced selling pressure. However, the situation wasn’t entirely bleak, as VPI, HDG, SZC, SIP, and VPH managed to eke out slight gains.
The energy and telecommunications sectors were the worst performers in the market, with the energy sector falling nearly 2% and telecommunications declining over 1%.
Healthcare stocks took the lead in terms of gains, driven by AMV’s surge to the upper limit and BBT’s rise of more than 13%.
HPG inched up nearly 1%. For the third quarter of 2024, the Hoa Phat Group (HOSE: HPG) reported a 51% year-over-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 slight gain, as the VN-Index rose nearly 3 points in the early minutes of trading. The initial market action was characterized by a familiar pattern of cautious buying.
The essential consumer goods sector displayed positive momentum from the get-go, with stocks in the livestock industry, such as DBC and BAF, rising 1.3% and over 2.2%, respectively. Several other stocks in the sector, including VNM, MSN, CTP, and KDC, also edged higher.
Financial and real estate stocks moved in tandem higher, although the magnitude of their gains was not entirely convincing.
In the real estate sector, VHM’s 0.3% dip exerted some pressure on the market. Conversely, several real estate stocks, including VPH, CIG, and OGC, soared to their daily limits.
On the flip side, the energy and information technology sectors tilted towards declines. BSR and PVC in the energy sector, along with FPT in the IT sector, witnessed modest losses.
