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 that managed to stay in the green.

BID, CTG, VPB, HDB, VIB, MSB, and OCB managed to stay resilient and closed higher. However, the banking sector still faced significant pressure, with TCB, MBB, ACB, LPB, and STB facing selling pressure.

In the losing camp, telecommunications and energy stocks witnessed the steepest declines. Within the energy sector, BSR led the losses, while other oil and gas stocks such as PVS, PVD, and PVC fell by more than 2%.

In the telecommunications space, VGI, FOX, and CTR all closed lower, with VGI tumbling more than 4%.

Total trading value surpassed VND 18.5 trillion. Buying interest increased on the HNX and UPCoM exchanges, while turnover on the HOSE remained on par with the previous session.

AM Session: Selling Pressure Persists, Banks Support the Index

The market sentiment remained hesitant around the 1,300 level. The VN-Index’s trend remained 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 ending in the red or unchanged.

By the end of the morning session, decliners outnumbered advancers by a significant 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 trading value surpassing VND 9 trillion across the three listed exchanges.

10:40 AM: Banks Hold the 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 gains of nearly 4 points, thanks to the resilience of financial and banking stocks. CTG, BID, EIB, TPB, and VIB posted solid gains. Among the top contributors to the index’s performance, BID added 1.7 points, while CTG, VCB, VIB, ACB, and TCB also made notable contributions. The banking sector played a pivotal role in propping up the VN-Index during the morning session.

Real estate stocks reversed course and dipped into negative territory. DIG led the declines with a drop of over 5%. Several other stocks in the sector, including PDR, DXG, and KDH, also fell. However, the situation wasn’t entirely bleak, as VPI, HDG, SZC, SIP, and VPH managed to eke out slight gains.

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

Healthcare stocks took the lead, driven by AMV’s surge to its daily limit and BBT’s impressive gain of over 13%.

HPG inched up by 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 VND 3,022 billion.

Opening: 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.

Essential consumer stocks 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. Several other stocks in the sector, including VNM, MSN, CTP, and KDC, also edged higher.

Financial and real estate stocks rose in unison, 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 stocks in the industry, such as VPH, CIG, and OGC, soared to their daily limits.

On the flip side, energy and information technology stocks leaned towards the red. BSR and PVC in the energy sector, along with FPT in the IT space, witnessed modest declines.

Yến Chi

RELATED ARTICLESMORE FROM AUTHOR