Monday sales fever

Tan Tao Investment Industry Corp. (ITA) turned head to hit the floor after leading the market sentiment for three previous sessions. The ticket outperformed Ho Chi Minh Stock Exchange (HoSE) with 5.7 million shares matched.

Kinh Bac City Development Share Holding Corp. (KBC) shares were also strongly sold and the real estate company’s ticket ended flat with 2.3 million shares matched.

Other speculative stocks were under heavy locking in profit pressures, led by real estate pennies massively hitting the floor. Vietnam Electricity Construction (VNE), Ninh Van Bay Real Estate (NVT), Petro Capital Infrastructure Investment (PTL), International Development and Investment Corp. (IDI), SaiGon Infrastructure Real Estate Investment (SII) lost more than 4 per cent each.

Among mineral stocks, Nari Hamico Minerals (KSS) hit the floor, Binh Thuan Mineral Industry (KSA), Tay Bac Minerals Investment (KTB) shed more than 2 per cent and Lao Cai Mineral Exploitation & Processing (LCM) slipped 3.38 per cent.

On the Hanoi Stock Exchange (HNX), speculative real-estate tickets massively dropped, among them FLC Group (FLC), PetroVietnam-Nghe An Construction (PVA), PVI Investment and Development (PV2) off 4-6 per cent.

Petro Vietnam Power Land (PVL) and PetroVietnam Construction (PVX) ended flat.

Red largely covered the market. Some 159 stocks declined compared with 64 advancing and 86 unchanged on HoSE. Meanwhile, 118 stocks ended off outrunning 62 up.

At the close, HoSE’s VN-Index slipped 0.98 points or 0.25 per cent to 391.56 points. Also, the HNX-Index shed 0.5 points or 0.9 per cent to 54.94 points.

However, large-cap stocks particularly banking stocks kept stable in this session. Eximbank (EIB) even gained 2.65 per cent, while Sacombank (STB), Vietinbank (CTG) and Military Bank (MBB) just slightly shed.

Vinamilk (VNM) strongly jumped 4.24 per cent after the company announcing robust profit for third-quarter. Some companies in producing sectors also saw significant gains.

Liquidity fell back to a very low level after slightly improving in the previous week, with matching volume amounting to just VND578.9 billion ($28 million). With low put-through values, HoSE saw 36 million shares worth VND418.1 billion ($20.2 million) changed hands and HNX witnessed 24.9 million shares worth VND178.8 billion ($8.6 million) traded.