Oil stocks turn the tide

In today's stock trading session, April 13, the VN-Index decreased by 5 points to 1,064 points.

The market recorded a bright spot in today's trading session, April 13, belonging to the group of oil and gas stocks. Specifically, in the morning session, information about the world oil price increasing to 82 USD/barrel caused the price of oil and gas stocks on the stock exchange to jump.

Many other stock groups on the floor also increased slightly in price in the first minutes of opening thanks to some positive news in the world, such as the US inflation rate in April decreased.

However, from 10 a.m. to the end of the afternoon session on April 13, profit-taking selling pressure spread widely, causing many stocks to fluctuate strongly and turn red at the end of the session. Real estate and securities stocks continued to be strongly profit-taking, many stocks had a sharp increase in trading volume but prices still decreased by 2-3%.

In particular, LDG stock code was sold off in today's session when receiving bad news about an illegal villa project in Dong Nai . At the end of the session, LDG closed down 7%, down to 4,300 VND/share, with more than 20 million shares matched - the highest in recent months.

LDG is a stock of LDG Investment Joint Stock Company, the investor of Tan Thinh Residential Area project in Doi 61 commune, Trang Bom district, Dong Nai province, which has just been comprehensively inspected and concluded to have committed a series of violations.

This pressure even spread to oil and gas stocks, causing some codes to reverse and decrease, such as PVD, PVC, PVP, POW, PVB, PVT... Meanwhile, the remaining codes only increased very slightly.

At the end of the session, the VN-Index decreased by 5 points to 1,064 points; the HNX-Index closed at 209 points, down 2 points. On the contrary, the UpCoM-Index increased by 0.2 points to 79.3 points.

In the VN30 basket, there were 22 stocks closing below the reference, the remaining stocks only increased by 1% or less, not enough to resist the market's downward momentum.

Liquidity on all three floors (HoSE, HNX and UpCom) totaled about VND 13,450 billion, down more than VND 2,000 billion compared to the previous session.

Foreign investors continued to be a negative point when they net sold with a total value of more than 297 billion VND on all 3 exchanges. This was the 6th net selling session of this group of investors, contributing to creating great pressure on the market.

Source