Stock market October 16: VN-Index regained the green color, banking groups rallied

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The domestic stock market corrected deeply at the beginning of the session with pressure coming from some blue-chips such as MSN, VCB, VNM, SAB, and VIC.

As of 10h50, the VN-Index increased by 0.7 points (0.07%) to 943.46 points, HNX-Index increased by 0.39% to 140.19 points, UPCoM-Index increased by 0.6% to 63.86 point.

The banking group attracted the most capital flows during the session. Strong gainers like CTG (4.5%), BID (1.3%), and VPB (2.9%) largely contributed to the index’s recovery.

As of 9.40am, the VN-Index fell 4.55 points (0.48%) to 938.21 points, the HNX-Index fell 0.16% to 139.22 points, the UPCoM-Index increased by 0.24% to 63.63 point.

Red dominated in VN30 basket with 5 gainers, 5 reference stocks and 20 losers. Specifically, stocks that fell the most were MSN (2.6%), ROS (1.3%), KDH (1.3%), and VJC (1%). In addition, codes pulling the index down also included EIB, REE, MWG, NVL, TCH, FPT

Conversely, shares of CTG and MBB increased by 2.2% and 1.4%, respectively, pulling the market up. On the other hand, HPG, PNJ, and VRE also contributed to the rise of the VN-Index.

In terms of liquidity, the banking group is currently recording the most active transaction on the market.

Negative movements on the US stock market in the last three sessions also partly affected the psychology of domestic investors. This drop marks the longest losing streak of indices in a month.

Accordingly, the US stock market on October 15 all closed in the red when the hope for an economic rescue bill became increasingly fragile. The deteriorating situation of COVID-19 in Europe also had a negative impact on investors.

The Dow Jones industrial average fell 20 points, or 0.07%, to close at 28,494 points. During the session, the index sometimes lost more than 300 points. The S&P 500 and Nasdaq Composite ended down 0.2 percent and 0.5 percent, respectively.

Source: – Translated by