VN-Index nearly saved from ending below 800-point mark

March 12, 2020 | 10:29

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The strong selling sentiment on the stock market keeps the market on edge, with the VN-Index dropping by 5 per cent against the March 10 session.

vn index nearly saved from ending below 800 point mark

The VN-Index was down 5.04 per cent or 42.18 points against the last day at 1.30 PM on March 11

After the previous rebound, the local securities market on March 11 has seen a drop, amidst a varied global landscape. While the US stock exchange greatly increased, other markets in Asia and Europe were all in the red.

At 1.30 PM, the VN-Index slipped 5.04 per cent or 42.18 points, puncturing the 800-point mark to land at 795.32 points – a rare happenstance in the past 20 years. Fortunately, with a last-minute rally, the VN-Index closed the session at 811.35 points, down 3.12 per cent against the previous day. Liquidity was also more than VND5.465 trillion ($237.6 million).

The bourse recorded 296 tickers dropping in price, 77 tickers increasing, and 41 unchanged. Moreover, the Hanoi Stock Exchange (HNX) also fell by 0.64 per cent, and the HNX30 basket lost 0.75 per cent.

On the other hand, at the Ho Chi Minh City Stock Exchange (HSX), the VN30 lost 5 per cent or 39 points. Notably, all stocks of the basket fell heavily. MWG, PNJ, VPB, and VJC plunged by 7 per cent and some of them were not purchased during the day.

As the market was strongly looking to sell, the 10 highest capitalisation codes on HSX all dropped. VIC (Vingroup), VHM (Vinhomes), and VNM (Vinamilk) fell by 4.3, 6.4, and 1.7 per cent, respectively.

Investors have also been strongly selling bank stocks such as VCB, TCB, BID, HDB, and STB. All of these stocks were down 5-6 per cent.

HSX had 300 stocks ending the day lower and less than 50 that ended higher. Liquidity was more than VND3.2 trillion ($139.13 million).

By Van Anh

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