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Banking & Finance

Indexes down after positive start

Released at: 18:30, 08/03/2016 Stock Market Watch

Indexes down after positive start

Morning gains disappear by end of afternoon trade.

by Hung Khanh

All indexes closed lower on March 8, with the VN-Index on HSX closing down 1.49 points (0.26 per cent) and the VN30-Index 0.06 points (0.01 per cent) while on HNX the HNX-Index finished down 0.61 points (0.76 per cent) and the HNX30-Index 0.93 points (0.65 per cent).

The VN-Index saw good morning trade, reaching a peak of 579.84 points before coming down to close at 574.71 points.

Oil and gas shares saw major selling during the afternoon session on HSX. GAS closed down 2.4 per cent for whole day and 2.83 per cent in the afternoon, PVD lost 1.9 per cent for the whole day and 3.35 per cent in the afternoon, and PVS and PVC closed at their opening price after losing two tick sizes in the afternoon. Energy shares saw the largest fluctuation over the course of the day, increasing 1.28 per cent in the morning but falling 1.25 per cent by the end of day.

The VN30-Index saw 16 shares down in the afternoon against the morning, with only four shares increasing. Over the whole day seven shares increased and 19 decreased. VIC and MSN were the biggest risers among in the VN30 basket, by 1.3 per cent and 0.7 per cent, respectively.

VNM, meanwhile, closed at its opening price. The three largest caps in the banking sector were down - CTG and BID both 0.6 per cent and VCB 0.5 per cent - bringing the VN30-Index down 0.01 per cent for whole day and 0.31 per cent at the close of afternoon trade against the morning session.

Foreign investors net sold on HSX by some VND34 billion ($1.52 million) and by VND20 billion ($897,000) on HNX.

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