GAS, MSN hinder VN-Index’s free fall, keeping it above 1,200-point mark

The stock market continued to surprise investors when it suddenly made a free fall in the trading session on June 17.
GAS, MSN hinder VN-Index’s free fall, keeping it above 1,200-point mark ảnh 1 Illustrative photo

The shocking increase in the previous trading session was almost gone today when holders rushed to push selling orders right from the ATO session. The fierceness of the seller makes the buyer no longer confident in decisions to buy stocks at green prices.

This negative movement caused the VN-Index to fall freely and drop off the mark of 1,200 points right after the ATO session. The decrease in Vietnam’s benchmark was sometimes recorded at 44 points.

However, in the most difficult moments, the cash flow suddenly poured into the two stocks with the largest market capitalization, namely MSN and GAS. Although the rising momentum of these two stocks could not help the VN-Index to avoid a losing trading session, it still managed to hold the index to stay above the 1,200-point mark.

The VN Index dropped 19.33 points, or 1.56 percent, to close at 1,217.3 points. On the HoSE, 391 stocks advanced, 87 retreated, and 37 stood still. Notably, the stocks that fell to the floor mostly came from sectors such as real estate, construction, securities, and steel.

In the VN30 group, besides GAS with an increase of 4.7 percent and MSN with 5.7 percent, the VN-Index also received support from POW with 4.5 percent. Meanwhile, the group of stocks that pulled the index down included all banking stocks in the VN30 basket, namely ACB, BID, CTG, HDB, MBB, STB, TCB, TPB, VCB, and VPB.

Despite losing points, the liquidity of HoSE improved compared to the previous session, with 738.5 million shares matched, worth a total value of VND17.33 trillion.