Blue chip losses down indices

Benchmark indices closed in the red on April 10 after posting gains on two previous trading days on both the national stock exchanges, as large cap stocks tumbled.

On the Hochiminh Stock Exchange, the VN-Index lost 1.92 points or as much as 0.32 percent to close at 601.33 points, as investors remained cautious and the capital injection eased. As more than 114 million shares changed hands, the total trading value reached nearly 2.4 trillion VND (114.28 million USD), slightly lower than the previous trading session.

According to FPT Securities, losses on April 10 were mainly registered in large cap stocks. Seventy out of the southern bourse's largest stocks by capitalisation and liquidity posted losses, overwhelming gainers which numbered ten.

Gains from Masan Group (MSN) and PetroVietnam Gas Corporation (GAS) supported the VN-Index to increase during early trading session on April 10 to reach 609 points. However, selling pressure intensified and the market trend reversed and continued till the end of the day. Among blue chips, Kinh Do Corporation (KDC) decreased by 4,000 VND (0.19 USD) to reach its floor price of 57,500 VND (2.7 USD) per share.

Other losers were big names, such as Vinamilk (VNM), dropping 3,000 VND (0.14 USD) or 2 percent and Hoa Sen Group (HSG) losing 1,000 VND (0.047 USD) or 1.8 percent.

However, gains from Masan Group (MSN), HCM City Infrastructure Investment Corporation (CII), PetroVietnam Low Pressure Gas Distribution (PGD), and Sai Gon Securities (SSI) helped the benchmark index to narrow down its losses on April 10. Overall, on the southern bourse, losers overwhelmed gainers by 131-94.

On the Hanoi Exchange, the trading volume and value also slightly eased over the previous sessions, and 58.8 million shares worth 785 billion VND (37.38 million USD) were traded. The HNX-Index slid 0.18 percent to end at 87.64 points, while the HNXFF-Index, composed of stocks with minimum free float rate of 5 percent, closed 0.32 percent lower at 88.95 points. Tracking the capital city's top 30 stocks, the HNX30-Index tumbled 0.84 percent to end the day at 183 points.

Foreign investors continued to be net sellers with a net value of 146.6 billion VND (7 million USD) on large cap stocks, such as Hoang Anh Gia Lai (HAG), Ocean Group (OGC), real estate giant Vingroup (VIC), and PetroVietnam Fertilisers and Chemicals Corporation (DPM).-VNA

Source: Vietnamplus

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