Dose of reality ends Friday

April 13, 2012 | 18:00

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The market fell on Friday after the strong rebound in two previous sessions.

Banking stocks faced big selling pressures today largely. Eximbank (EIB) was of 1.09 per cent, Military Bank (MBB) 1.9 per cent, Vietinbank (CTG) 2.18 per cent while Sacombank (STB) dropping 3.77 per cent on the Ho Chi Minh Stock Exchange (HoSE).

Hanoi Stock Exchange (HNX)-listed Habubank (HBB) also significantly fell. Asia Commercial Bank (ACB) and Saigon-Hanoi Bank (SHB) ended flat on big selling pressures.

Real-estate stocks, which had soared on yesterday’s monetary policy relaxation by the State Bank, were strongly sold by investors locking in profits. Ninh Van Bay Real Estate (NVT), Becamex Infrastructure Development (IJC), PetroVietnam-Idico Long Son Industrial Park Investment (PXL) all dropped with 2-5 million shares sold each.

Decliners outran advancers 135 to 103 on the HoSE, while 70 stocks unchanged. On the HNX, decliners even doubled advancers 188 to 87 stocks.

Te VN-Index lost 2.74 points, or 0.59 per cent, to close at 462.52 points. The HNX-Index slightly shed 0.16 points or 0.2 per cent ending at 78.38 points.

However, buying power proved still good. While the central bank move to relax its monetary policies brought back concerns about high inflation, investors are also speculating that a low consumer price index in April can ignite the stock market.

Tan Tao Investment Industry Corp. (ITA) outperformed the market with a 7 million shares matched, followed by Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC) at nearly 6 million shares.

Securities company shares kept rising on the HNX. High-liquid stocks of the sector like Kim Long Securities (KLS), VNDirect Securities (VND), Saigon-Hanoi Securities (SHS), Wall Street Securities (WSS) largely rose 3-6 per cent each.

Up to eight HoSE-listed stocks had matching volumes topped 4 million shares today, while other stocks having matching volumes matching 1 million units each.

HoSE’s total volume reached 122 million shares worth VND1.8 trillion ($86.9 million). The figures hit 103 million shares worth VND1.03 trillion ($49.6 million) on the HNX.