Oil and gas stocks stage a comeback.

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

The market saw a bright spot in today's trading session, April 13th, belonging to the oil and gas sector. Specifically, in the morning session, news that world oil prices had risen to $82 per barrel caused the prices of oil and gas stocks on the stock exchange to surge.

Many other stock groups on the exchange also saw slight price increases in the first few minutes of trading thanks to some positive news from around the world, such as a drop in US inflation in April.

However, from 10 AM until the end of the afternoon trading session on April 13th, profit-taking selling pressure spread widely, causing many stocks to fluctuate sharply and turn red by the end of the session. Real estate and securities stocks continued to experience strong profit-taking, with many stocks seeing a surge in trading volume but still falling by 2-3%.

In particular, LDG shares were heavily sold off today following negative news about an illegal villa project in Dong Nai . At the end of the session, LDG closed down 7%, at 4,300 VND per share, with over 20 million shares traded – the highest volume in several months.

LDG is the stock of LDG Investment Joint Stock Company, the investor of the Tan Thinh residential area project in Doi 61 commune, Trang Bom district, Dong Nai province, which has recently undergone a comprehensive inspection and been found to have committed a series of violations.

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

At the close of trading, the VN-Index fell 5 points to 1,064 points; the HNX-Index closed at 209 points, down 2 points. Conversely, the UpCoM-Index rose 0.2 points to 79.3 points.

Within the VN30 basket, as many as 22 stocks closed below their reference price, while the remaining stocks only increased by around 1%, insufficient to counteract the market's decline.

Liquidity across all three exchanges (HoSE, HNX, and UpCom) totaled approximately 13,450 billion VND, a decrease of over 2,000 billion VND compared to the previous session.

Foreign investor activity continued to be a negative factor, with net selling totaling over 297 billion VND across all three exchanges. This marks the sixth consecutive net selling session by this group of investors, contributing to significant pressure on the market.

Source: https://nld.com.vn/kinh-te/co-phieu-ldg-bi-ban-thao-20230413163659458.htm