HRC surged to its ceiling price, defying the market trend.

Amidst strong selling pressure in the stock market, with the VN-Index losing nearly 20 points and many large-cap stocks declining, HRC shares of Hoa Binh Rubber Joint Stock Company continued to attract attention by hitting the ceiling price.

Immediately after opening on the Ho Chi Minh City stock exchange, strong buying pressure on HRC shares pushed the stock to its ceiling price. The price remained high throughout the trading session. At the close, HRC reached its maximum limit of 42,100 VND/share, marking its third consecutive session of reaching the upper limit. By the end of the session, there was no remaining supply from sellers, while buyers still had a large volume of shares waiting to be matched.

Positive first-quarter business results are one of the factors supporting the positive performance of HRC shares. Net revenue reached over 95 billion VND, more than 2.5 times higher than the same period last year; gross profit reached approximately 15 billion VND, double that of the same period.

HRC continues to surge to its ceiling price. (Screenshot)

Returning to the overall market developments, after reaching a new peak last week, the VN-Index initially fluctuated within a narrow range today, with green dominating. However, from around 2 PM, selling pressure intensified, causing the index to reverse and fall below the reference level.

At the close of trading, the VN-Index stood at 1,895.5 points, down 19.87 points, or 1.04%. The VN30-Index also fell 33.55 points to 2,040.51 points.

Most sectors declined, with the software-services and consumer services sectors experiencing the sharpest drops. Conversely, the energy sector performed positively, supporting the overall index, with BSR alone contributing more than 2 points to the VN-Index.

Steel stocks also came under selling pressure today, with HPG falling 1.28%, HSG down 2.81%, and NKG losing 2.47%. This development comes as Australia opens an anti-dumping investigation into galvanized steel imports from Vietnam and South Korea.

Liquidity on the Ho Chi Minh City stock exchange reached approximately 28,000 billion VND. Foreign investors continued to be net sellers, with buying value exceeding 2,723 billion VND, while selling value was nearly 3,743 billion VND.

On the Hanoi Stock Exchange, the HNX-Index closed at 248.06 points, up 1.57 points, or 0.64%. The HNX30-Index edged up 0.8 points to 528.74 points. The total trading value on this exchange reached nearly 1,300 billion VND.

Source: https://hanoimoi.vn/hrc-tang-kich-tran-nguoc-dong-thi-truong-749387.html