Markets lose their momentum

September 27, 2012 | 17:00

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Two bourses faded out at the end of Thursday, with large-cap stocks turning head to fall.

The VN-Index of Ho Chi Minh Stock Exchange (HoSE) ended off 1.78 points or 0.45 per cent to 393.34 points.

The HNX-Index shed 0.39 points or 0.69 per cent to 55.9 points.

Large-cap stocks, which helped the market not falling in two previous sessions, lost their rising momentum today.

Real-estate stocks Hoang Anh Gia Lai (HAG) hit the floor, Vincom Group (VIC) was off 0.6 per cent while Song Da Urban & Industrial Zone Investment and Development (SJS) dropping 2.17 per cent.

Key pillar stock PetroVietnam Gas (GAS) dropped 2 per cent to VND90,000. Masan Group (MSN) turned head to shed 0.52 per cent.

Major stocks in the PetroVietnam family like PetroVietnam Drilling and Well Services (PVD), PetroVietnam Fertilizers (DPM) also significantly lost.

Financial stocks largely eased back today, after slightly recovering in previous session. Saigon Securities Inc. (SSI) slipped 1.8 per cent, PetroVietnam Finance (PVF) fell 3.61 per cent, Military Bank (MBB) 0.75 per cent, Eximbank (EIB) 2.05 per cent, while Vietcombank (VCB) ending flat.

Speculative small-cap and mid-cap stocks in real-estate and mineral stocks largely fell down on increasing selling pressures. Those stocks mostly largely fell 2-3 per cent each on HoSE.

Among the advancers, low-price stocks Sacom Development and Investment Corp. (SAM) gained 1.54 per cent, outperforming the HoSE with 1.9 million shares matched. Some other pennies PetroVietnam-Idico Long Son Industrial Park Investment (PXL) and Petro Capital Infrastructure Investment (PTL) still strongly advanced.

Meanwhile, HNX’s leading sentiment stocks expanded their falls in this session. VNDirect Securities (VND) dropped 3.26 per cent, Kim Long Securities (KLS) 2.44 per cent, Saigon-Hanoi Securities (SHS) 3.92 per cent. Saigon-Hanoi Bank (SHB) ended flat.

Overall, decliners outran advancers 117 to 84 on HoSE and 108 to 68 on the HNX. Liquidity slightly improved on HoSE, with 28.6 million shares worth VND521.8 billion ($25.2 million) traded. HNX’s liquidity fell further to 19.5 million shares worth VND137.4 billion ($6.6 million).