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Banking & Finance

November 6: Indexes struggle

Released at: 17:05, 06/11/2018

November 6: Indexes struggle

Source: TVSI

Afternoon sales pressure takes indexes downwards.

by Hai Van

After a period of fluctuation, selling pressure increased sharply after 2pm on November 6, with indexes falling as a result. At the end of the day, the VN-Index was down 3.48 points (0.38 per cent) to 922.05 points and the HNX-Index 0.98 points (0.93 per cent) to 104.55 points, while the UPCoM-Index was close to its reference level.

Market liquidity was weak, with a matching order value of VND3.4 trillion ($145.8 million), revealing investors to be largely uninterested in playing the market.

Oil and gas stocks, after doing well in the morning session, were then subject to profit taking pressure, with GAS, PVS, PVD and PVT falling dramatically.

Many stocks, however, gained ground. The number of risers in the market was 256 and losers 240. VHC, BVH, GMD, CTD, CEO, DIG, SCR, FCN and VCG all did well.

In derivatives, all four HNX-Indexes fell deeply and were lower than the VN30-Index by 3 to almost 6 points, which showed the fairly cautious mindset.

In the morning session, the VN-Index increased slightly, by 1.42 points (0.15 per cent) to 926.95 points, the HNX-Index 0.04 points (0.03 per cent) to 105.57 points, and the UPCoM-Index 0.19 points (0.38 per cent) to 51.74 points.

Market liquidity was weak in the morning, with a total matching order value of VND1.6 trillion ($68.6 million). Foreigners were net sellers by VND20 billion ($857,935), mainly VNM, with VND28 billion ($1.2 million).

Blue-chips such as VJC, PLX, MWG, BVH and GAS performed quite well over the course of the day and gave much-needed support.

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