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VN-Index falls though barrier

Released at: 19:46, 24/11/2015 Stock Market Watch

VN-Index falls though barrier

Index finishes at 593.83 points on November 24, below Support level of 595 points.

by Hung Khanh

The VN-Index saw a significant break of the VN-Index Support level of 595 points on November 24. The market was down in the morning, bottoming out at 594.86 points then showing some signs of recovery by the close. The afternoon session, however, saw the Index fall slightly before tumbling to 590.76 points after an hour of trade, then improving to 593.83 at the close, for a loss of 6.15 points, or 1.03 per cent, against the day's opening.

The VN-Index approached the Support level once recently but recovered strongly. This time, however, there was no recovery and it closed under 595 points.

The market closed with 76 shares increasing, 154 decreasing, and 63 closing at their opening price.

Blue chips were largely responsible for the downward trend, as the VN30-Index fell 6.72 points, or 1.11 per cent, to reach 600.21 points, with only two stocks seeing increases while 23 decreased and five closed at their opening price.

VNM fell by the same margin it did yesterday, 3.15 per cent, closing at VND123,000 ($5.47) per share. Total trade volume reached some 2.5 million shares; 1 million higher than yesterday. Foreign investors bought 140,510 VNM shares but sold none.

The decline in VNM, however, boosted it liquidity, with total trade of VND318.4 billion ($14.15 million); the highest ever for VNM shares in one day.

MSN saw a third consecutive day of decline, falling VND1,000 ($0.04) against the opening to reach VND70,500 per share ($3.13). KDC lost one tick size, falling to VND25,000 ($1.11) when the afternoon session closed, while BVH lost 1.72 per cent to stand at VND57,000 ($2.53).

After increasing slightly in the morning, GAS finished the day at VND43,100 ($1.92), for a 0.23 per cent loss against the opening. Other oil stocks, such as PGD, CNG and ASP, headed upwards, by 1.3 per cent, 0.61 per cent, and 2.22 per cent, respectively.

Banking and finance stocks were mostly in negative territory, with large caps such as BID losing 1.29 per cent, VCB 1.07 per cent, CTG 0.51 per cent, STB 0.81 per cent, and MBB 1.37 per cent.

OGC and JVC went against the general trend and increased significantly over the course of the day’s trading. JVC ended three consecutive days of reaching the ceiling but still increased at a high 4.69 per cent. OGC reached its ceiling for the fifth day in a row, increasing 5.13 per cent against the opening. Both saw high liquidity, with around 8 million shares each being traded.

FLC fell one tick size, to VND9,000 ($0.40) per share, but saw the highest liquidity on the HSX, of 22.38 million shares.

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