Stock market's upward trend broken

After five consecutive upward sessions and surpassing the 1,800-point mark, the VN-Index reversed course on April 17th, declining slightly amidst a correction in Vingroup's stock.

This morning, on the Ho Chi Minh City stock exchange, the market experienced volatility as Vingroup- related stocks corrected after a series of consecutive gains. However, other key stocks, especially MWG, surged, helping the market maintain its positive momentum. By the end of the morning session, the VN-Index closed at 1,825.72 points, up 5.89 points.

In the afternoon session, Vingroup's group of stocks initially performed positively, helping the VN-Index rise by more than 15 points to over 1,835 points. However, this group of stocks then corrected, causing the market to decline, although the number of rising stocks still predominated.

VHM (Vietnam Stock Index) took the biggest hit on the VN-Index during the April 17th trading session. (Screenshot)

Across the entire market, 178 stocks rose and 146 fell. Within the VN30 basket, the number of gainers and losers was 19 and 10 respectively.

Today, essential aviation and commercial stocks performed best in the market, with MWG stock notably hitting its ceiling price, contributing the most to the overall index with 1.88 points.

Energy stocks also performed well, with GAS and BSR contributing 0.9 points and 1 point respectively. In addition, several other stocks such as GVR, VPB,FPT , TCB, MSN, CTG, and TCX helped to curb the market's decline.

Conversely, Vingroup's group of stocks underwent a simultaneous correction after a series of price increases. VHM fell 5.2%, subtracting 6.15 points from the VN-Index. VIC and VPL dragged the overall index down by 2.3 points and 1.21 points respectively, not to mention VRE taking away 0.47 points.

Bank stocks showed divergence, with LPB andSHB also among those that dragged down the VN-Index significantly.

Liquidity decreased compared to the previous session, reaching over 23,000 billion VND. A bright spot in the market was that foreign investors were net buyers, with purchases totaling nearly 3,153 billion VND and sales totaling 3,042 billion VND.

On the Hanoi Stock Exchange, at the close of trading, the HNX-Index stood at 260 points, up 3.51 points (1.37%); the HNX30-Index fell to 546.57 points after a decrease of 1.71 points (-0.31%). The total trading value reached approximately 1,800 billion VND.

Source: https://hanoimoi.vn/chung-khoan-dut-mach-len-diem-745520.html