Novaland shares plummet, Vietnam Airlines suddenly sold off

Strong selling pressure at the beginning of the afternoon session caused market indices to reverse course. The VN-Index significantly narrowed its gains, closing the session with only a 1.36-point increase, or 0.11%, at 1,281.18 points.

VN30 stocks play a significant role in maintaining market momentum. With 15 gainers, the VN30-Index rose 5.48 points, or 0.42%. The HNX-Index edged up 0.07 points, or 0.03%; and the UPCoM-Index increased 0.34 points, or 0.34%.

Market liquidity improved compared to yesterday's session, reaching 684.25 million shares worth VND 16,413.87 billion on HoSE; 58.93 million shares worth VND 1,113.37 billion on HNX and 58.73 million shares worth VND 1,047.35 billion on UPCoM.

On the HoSE exchange, 211 stocks rose, with 11 hitting the ceiling price, compared to 215 stocks that fell, with 4 hitting the floor price. Among the stocks that hit the floor price was HVN of Vietnam Airlines .

HVN stock price movements during the July 16th trading session (Screenshot).

HVN's price briefly rose to 33,800 VND but then suddenly dropped to the floor limit of 31,250 VND per unit on the HoSE. Total trading volume for the session reached 10.6 million shares, with no buyers; of which, the largest proportion, 3.3 million shares, were traded at the floor price.

Meanwhile, some other stocks in the same sector, such as VJC, still increased in price by 1.2%; SCS increased by 1.4%; and VNS increased by 0.9%.

In the real estate sector, NVL shares fluctuated and even rose at times during the morning session, but were heavily sold off in the afternoon, falling 4.5% to 12,600 VND; with a high trading volume of 22.6 million units.

In a related development, Novagroup Joint Stock Company has registered to sell 2 million NVL shares of Novaland Investment Group Joint Stock Company ( Novaland ) for the purpose of balancing its investment portfolio and supporting debt restructuring. The transaction is expected to take place from July 18th to July 26th. If the transaction is successful, Novagroup will reduce its ownership stake in Novaland from 17.892% to 17.788%.

Novaland's NVL shares were heavily sold off in the afternoon session (Screenshot).

Several other real estate stocks also fell, such as ITA (down 5.8%), CKG (down 3.8%), DXS (down 3.8%), CCL (down 3.2%), PDR (down 3.2%), and DXG (down 2.4%). Some other stocks still achieved gains, such as SIP (up 5%), TIP (up 4.3%), TDC (up 2.3%), VPH (up 2.1%), and BCM (up 1.9%).

Healthcare stocks maintained their momentum despite signs of a market correction. VMD, IMP, DCL, OPC, DHG, DBD, JVC, and DBT all surged to their ceiling prices, with most having no sell orders and a surplus of buy orders at the ceiling price.

On the HNX, DVM, AMV, and VHE shares hit the ceiling price; DP3 increased by 5.8%; DTG by 6.3%; and PMC by 3.7%. On the UPCoM exchange, DP1, PBC, DAN, DVN, MRF, DDN, and GPC shares also hit the ceiling price, with some stocks rising by as much as 15%; TTD increased by 8.3%; TW3 by 7.8%; MKP by 6.7%; CDP by 6.2%; DTP by 6%; and CNC by 4.4%.

The banking sector saw NAB rise 4.3%; MBB up 2.2%; HDB up 1.4%; BID up 1.3%; CTG up 1.2%; VPB and TPB both up 1.1%. Other stocks saw slight gains but played a significant role in supporting the VN-Index due to their large market capitalization, such as VCB, STB, and TCB. Specifically, BID contributed 1.21 points to the VN-Index; VCB contributed 0.7 points; MBB contributed 0.6 points; and CTG contributed 0.5 points.

Regarding foreign investor activity, this group of investors continued to net sell 235 billion VND across the entire market, but the level of net selling has cooled down compared to yesterday's session. Stocks experiencing strong net selling included MWG, MSN, TCB, and VND; conversely, stocks that saw net buying included NLG, FPT, and TPB…

Source: https://dantri.com.vn/kinh-doanh/co-phieu-novaland-lao-doc-vietnam-airlines-dot-ngot-bi-ban-thao-20240716161259320.htm