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Blue chips drag VN-Index down

Released at: 18:31, 18/11/2015 Stock Market Watch

Blue chips drag VN-Index down

Index follows morning trend in afternoon session, increasing before falling and marking the third successive day of decline.

by Hung Khanh

Similar to the morning session, in the afternoon session on November 18 the VN-Index initially increased 0.47 points before falling to 603.34 points by the close of the day, a decline of 1.71 points and 0.28 per cent compared to the opening.

Other strong stocks such as VIC or KDC joined VNM in falling in the afternoon session as investors sold significant stakes.

VNM lost 1.49 per cent compared to its opening price, VIC VND300 ($0.01), to close 0.69 per cent higher for the day, and KDC lost one tick size (VND100) but also rose over the course of the day, by 2.86 per cent. VNB, BVH, BID, and FPT fell back to their opening price after increasing slightly in the morning session.

Two oil stocks with large caps - GAS and PVD - fell 1 tick size on the opening price.

The VN30-Index therefore lost 2 points at the close, or 0.35 per cent.

Today was the third consecutive day the VN-Index declined, wiping out the significant increase seen on November 11.

Sales well and truly outpaced buying. Total trade in both indexes was VND985.9 billion ($43.88 million), 33 per cent lower than yesterday, with VND356.4 billion ($15.86 million) in the VN30-Index, or 49 per cent of yesterday’s total.

Foreign investors sold large amounts of VNM, for a total of VND18.7 billion ($832,337) in the last two days. MSN saw VND24.7 billion ($1.09 million) shares sold by foreign investors, accounting for the 63 per cent, while HHS, KDC, and HSG also saw high sales by foreigners.

The HNX-Index, meanwhile, increased slightly, by 0.22 points (0.28 per cent), to close at 81.36 points with a total of 42,821,322 shares being traded today.

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