Vingroup, banking stocks push VN-Index down for second session

Vietnam's benchmark VN-Index inched down 1.66 points, or 0.13%, to close at 1,241.48 on Friday, due to the plunge of private conglomerate Vingroup and banking stocks.

The trading value on the Ho Chi Minh Stock Exchange (HoSE), represented by the index, gained 6.3% from Thursday to VND26.34 trillion ($1.09 billion), with nearly 1.1 billion shares changing hands. The major bourse saw 254 tickers rising and 252 losing.

The VN30 index, featuring 30 largest capped stocks, dropped 6.08 points to 1,249.14, with 17 losers.

The three stocks of the Vingroup ecosystem had a negative impact on the market, with VIC of Vingroup down 2.8%, VRE of retail real estate arm Vincom Retail 2.3%, and VHM of real estate developer Vinhomes 2%.

Banking stocks also performed poorly. BID of BIDV decreased 0.74%, CTG of VietinBank 1.07%, TCB of Techcombank 1.12%, MBB of MBBank 1.04%, STB of Sacombank 1.52%, TPB of TPBank 1.27 %, and MSB of Maritime Bank 1.67%.

Meanwhile, tickers of real estate and manufacturing firms showed good performance, with many closing in the green. Notably, fertilizer stocks rallied following the news that China restricted the export of urea fertilizer.

The securities, energy and retail groups saw a divergence.

Foreign investors turned net buyers on the HoSE after three consecutive sessions of net selling to the tune of VND99 billion ($4.1 million). They mainly net purchased VPB of private lender VPBank and VNM of dairy giant Vinamilk.

The HNX-Index on the Hanoi Stock Exchange, where mid and small caps list, expanded 0.02% to 256.2 points, while the UPCoM-Index on the Unlisted Public Companies Market inched up 0.15% to 94.72.