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Banking & Finance

Large caps help market stablize

Released at: 13:36, 08/12/2015 Stock Market Watch

Large caps help market stablize

Major downturn early on in morning trade on December 8 righted as market closes only slightly down.

by Hung Khanh

The VN-Index fell dramatically during morning trade on December 8, to 557.10 points, before recovering ground to close at 563.02 points, down 0.7 points, or 0.12 per cent.

Large caps helped stem the flow, with VNM increasing 1.67 per cent, VCB 1.23 per cent, KDC 1.09 per cent, BVH 23.92 per cent, STB 1.82 per cent, and GMD 1.85 per cent. All are in the VN30 basket.

The VN-Index saw 67 shares increasing and 128 decreasing while the VN30 saw eight increasing and 16 decreasing.

The solid performance by large caps was countered by other stocks having a poor morning, with JVC losing 1.67 per cent, SHI 5.60 per cent, and HQC 6.15 per cent, which hit its floor. HQC saw the highest trade in the market, with some 6 million shares changing hands and 891,600 shares remaining on order for sale at the close.

Crude oil fell to below $38 per barrel on global markets but this wasn’t overly influential on the market, as PGD and ASP closed at their opening prices and CNG rose 0.6 per cent, while GAS fell 2.03 per cent.

Banking shares traded in negative territory, except for VCB, which increased 1.23 per cent, and STB, by 1.82 per cent. BID lost 0.49 per cent, CTG 1.1 per cent, MBB 0.71 per cent, and EIB 2.83 per cent.

Brokerage shares also lost during the morning session, with HCM down 0.32 per cent, FIT 1.05 per cent, and BSI 1.08 per cent.

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