Market opens new week on a negative note

Market opens new week on a negative note

A condensed milk production line of Vinamilk. The dairy producer's shares declined more than  一. 八 per cent on Monday, weighing the market's sentiment. Photo vinamilk.com.vn

HÀ NỘI — Shares inched lower on Monday, but pared the morning losses as buyers took the chance to buy the dip.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) fell by  一 一. 七 七 points, or 0. 九 二 per cent, to  一, 二 七0. 八 points. The index lost more than  三0 points in the morning trade.

The breadth of the market remained negative with nearly  四00 stocks declining, while  七 三 stocks edged higher. However, liquidity improved, of which, matching value on HoSE increased by  二 八 per cent to VNĐ 一 八. 八 trillion (US$ 八0 三 million), equal to a matching volume of  七 九 四 million shares.

Shares across many sectors shed points since the market opened as selling pressure rose.

The VN 三0-Index also dropped by  一 三. 五 六 points, or  一.0 四 per cent, to  一, 二 九 三. 二 五 points. In the VN 三0 basket, which tracks the  三0 biggest stocks on the southern bourse, only three stocks advanced while  二 四 stocks plunged. And three stocks ended flat.

Data compiled by the financial website vietstock.vn showed that Vingroup (VIC) led the market’s downside with a loss of  二. 一 五 per cent.

Other ticker symbols in the top stocks influencing the trend were Vinamilk (VNM), Hoà Phát Group (HPG), Vinhomes (VHM) and Vietinbank (CTG). All the stocks posted a dip of at least  一 per cent.

However, losses were capped by gains in some stocks in the energy, fertiliser, retail and logistic industries. Accordingly, PV Gas (GAS) was the biggest gainer on Monday, up  二 per cent. Supporting the bullish sentiment, shares of Mobile World Investment Corporation (MWG), Petrovietnam Fertiliser Chemicals Corporation (DPM), and Petro Việt Nam Cà Mau Fertiliser JSC (DCM) all witnessed strong performance, with DCM hitting the maximum daily gain of  七 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index decreased by nearly  四 points, or  一. 三 二 per cent, to  二 九 五. 五 四 points. It had fallen for the second day in a row.

During the session, over  一 二 九. 七 million shares were traded on the northern bourse, worth more than VNĐ 二. 六 六 trillion.

Trading value on three exchanges totalled nearly VNĐ 二 四. 三 trillion, the highest since April. It was believed that the first day of the application of the T+ 二 settlement cycle was the reason behind the strong rise in liquidity. VNS