VN-Index falls after four consecutive gaining sessions

The benchmark VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), declined 4.46 points, or 0.41%, to 1,082.23 on Tuesday, ending its four-session gaining streak.

The southern bourse saw over 720 million shares changing hands for nearly VND11.86 trillion ($500.16 million), an increase of 1.31% from the previous session. There were 182 gainers and 324 losers.

Banking stocks were the major force dragging down the benchmark index as they accounted for seven out of 10 tickers with the most negative impact, namely STB of Sacombank, TCB of Techcombank, ACB of Asia Commercial Bank, MBB of MBBank, CTG of VietinBank, VPB of VPBank, and BID of BIDV.

Meanwhile, VCB of Vietcombank, EIB of Eximbank, and HDB of HDBank maintained their gaining momentum and served as the main support for the market.

Divergence was seen in the real estate group, with HQC of Hoang Quan Corp, NVL of Novaland, HPX of Hai Phat Invest, and DIG of DIG Corp gaining, while CEO of CEO Group, HDG of Ha Do Group, NLG of Nam Long Group, and DXG of Dat Xanh Group losing.

The two main groups of steel and securities weakened with losers overwhelming gainers. Steel codes NKG of Nam Kim, HSG of Hoa Sen, and HPG of Hoa Phat decreased 2.9%, 2.5% and 1.4%, respectively.

Similarly, a series of large securities stocks like VCI of Viet Capital Securities, SSI of Saigon Securities, and VND of VNDirect went down.

Some groups closing in green were oil and gas, coal and garment.

Foreign investors were net sellers for the fifth consecutive session to the tune of about VND73.45 billion ($3.1 million) on the HoSE. They mainly net sold DXG, DPM of Petrovietnam Fertilizer & Chemicals Corporation, DMC of Petrovietnam Ca Mau Fertilizer JSC and VND; while net buying SSI, HDBank, HCM of Ho Chi Minh City Securities, and FUEVFVND certificate.

The HNX-Index on the Hanoi bourse dropped 1.75 points to 214.08, while the UpCOM-Index on the unlisted public company market went down 0.65 points to 78.18.