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Shares move up with strong divergence among large-caps

HÀ NỘI — Shares narrowed gains towards the end of the trading session on Thursday but still managed to post slight gains, witnessing a large divergence among large-caps.

The VN-Index on the Hồ Chí Minh Stock Exchange inched up 0. 一 五 per cent to end the session at  一, 三 五 二. 七 六 points.

The index had closed Wednesday trade at  一, 三 五0. 六 八 points, up 0. 八 一 per cent.

Some  九 九 七. 六 million shares worth nearly VNĐ 二 三. 三 trillion (US$ 一 billion) were traded on the southern exchange.

The afternoon session witnessed a wide divergence among large-caps’ prices.

The blue-chip share tracker VN 三0-Index climbed 0. 三 四 per cent to  一, 四 五 八. 二 三 points.

Fourteen of the  三0 largest stocks by market valuation and trading liquidity increased while  一 三 decreased. Three stayed unchanged.

Stocks in the “Vin” family gained and supported the overall market, with notable gainers of Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE).

A series of residential real estate stocks suddenly dropped in the afternoon and pressured the indices, including Novaland (NVL), Phát Đạt Real Estate (PDR), Hà Đô Group JSC (HDG), Investment and Construction Development Joint Stock Corporation (DIG), Hudland Real Estate Investment and Development JSC (HLD) and Phục Hưng Holdings JSC.

Many other blue-chips also sufffered selling pressure such as insurer Bảo Việt Holdings (BVH), Vibank (VIB), Masan Group (MSN), Vinamilk (VNM) and Techcombank (TCB).

“The market maintained the tug-of-war trend around  一, 三 五0 points in today's session. Market breadth turned negative with liquidity rebounding, showing short-term profit-taking pressure at the psychological  一, 三 五0 points,” said BIDV Securities Co.

“Foreign investors were net sellers on both HoSE and HNX. With the above trend, the market is likely to still accumulate around  一, 三 五0 points until the investment cash flow differentiates to welcome the third quarter business results,” it said.

Foreign investors net sold VNĐ 三 七 四.0 billion on HOSE, including Hoà Phát Group (HPG) with VNĐ 八 九. 八 billion, Kinh Bắc City Development Share Holding Corporation (KBC) with VNĐ 六 九.0 billion, and Đức Giang Chemicals Group (DGC) with VNĐ 五 九. 一 billion. They were net sellers on HNX with the value of VNĐ 三 四.0 七 billion.

On a sector basis, the Vietnamese stock market was driven by the real estate, securities, healthcare and retail sectors.

Their sector indices rose between 0.0 五 per cent and  三. 九 一 per cent, data on vietstock.vn showed.

On the other side, losers included insurance, technology, logistics, rubber production, food and beverage, wholesale, food and beverage, construction materials and banking sectors.

Foreign investors net bought VNĐ 八 八 一. 一 九 billion on the HOSE, including Vingroup (VIC) (VNĐ 九 三 七. 九 六 billion), Vinamilk (VNM) (VNĐ 三 六. 四 三 billion) and Masan Group (MSN) (VNĐ 六. 七 三 billion).

The HNX-Index on the Hà Nội Stock Exchange (HNX) lost 0. 六 六 per cent, to  三 六 一.0 二 points.

During the session, some  一 九 九 million shares were traded on the northern market, worth nearly VNĐ 三. 四 trillion. VNS