Market falls to old habits

December 29, 2011 | 15:00

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Stock market fell Thursday after the short recovery yesterday, despite support from blue-chip stocks.

The benchmark VN-Index of Ho Chi Minh Stock Exchange (HoSE) slightly shed 0.15 points or 0.04 per cent to close at 350.51 points.

Buyers kept cautious and mainly bid at low prices, pushing liquidity significantly down. Total volume was 48 million shares worth VND557.2 billion ($26.9 million). Whereas, put-through transactions made up a major part, with 26.6 million shares worth VND285.3 billion ($13.8 million) negotiated today.

Amid the falling trend, some blue-chip jumped supporting the market. Real estate major stocks Hoang Anh Gia Lai (HAG), Song Da Urban & Industrial Zone Investment and Development (SJS) and Ocean Group (OGC) hit the ceiling.

Also, technology giant FPT Corp. (FPT) strongly gained and Masan Group (MSN) slightly added. Banking stocks Military Bank (MBB), Vietcombank (VCB) and Eximbank also significantly advanced.

Sacombank (STB) outperformed the market again with 2.2 million shares matched, followed by OGC at 1.7 million shares. Meanwhile, OGC was active the most in put-through transaction with as high as 17 million units negotiated. The real estate stock had 10 million units negotiated in the previous session.

Overall, 147 stocks were off on the southern bourse, compared with 102 up and 57 unchanged.

Selling pressures remained stronger on Hanoi Stock Exchange (HNX). A mass of major stocks sunk without any bidding orders remaining at the session’s close, among them VNDirect Securities (VND), Bao Viet Securities (BVS), PetroVietnam Construction (PVX), Vietnam Construction and Import-Export (VCG) lost nearly 6 per cent each.

Kim Long Securities (KLS), Habubank (HBB) modestly slipped some 2 per cent each. A few securities company stocks like Saigon-Hanoi Securities (SHS), Hoa Binh Securities (HBS) and Golden Bridge Securities (GBS) advanced.

The benchmark HNX-Index slipped 0.54 points or 0.93 per cent to 57.67 points, with 134 stocks off. As many as 74 stocks hit the floor. Some 93 stocks were up.

Total volume reached 27.6 million shares, worth VND238.8 billion ($11.5 million). Put-through volume was of 5.5 million shares worth VND70 billion ($3.4 million).