The VN-Index fell 2.77 percent to 790.84 points Wednesday, after eight new intra-community Covid-19 transmissions were confirmed in the morning.
The index had fallen to 780 points by around 1.15 a.m from 813.36 points at the beginning of the session, but managed to pick up 10 points by the end of the session.
News of the new Covid-19 infected patients in coastal Da Nang City in the morning had triggered sell-offs from investors again, although the market managed to recover in the afternoon upon hitting the 780-point support level, with bottom-fishing cash narrowing losses, analysts said.
In the past five days, Da Nang with a population of 1.1 million has reported 26 cases alone. Its neighbour Quang Nam Province has reported three patients and the nearby province of Quang Ngai one case, all linked to Da Nang, bringing Vietnam’s total infected count to 30.
The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was a sea of red with 352 stocks losing and 59 gaining. Total trading volume rose slightly over the previous session, to VND5.46 trillion ($235.92 million).
The VN30-Index for the stock market’s 30 largest caps fell 2.78 percent, with 29 tickers in the red and one in the green.
ROS of real estate developer FLC Faros topped losses, plummeting 6.7 percent, its floor price, followed by GAS of energy giant PetroVietnam Gas, down 6.3 percent, and VRE of mall operator Vincom Retail, down 6.1 percent.
SBT of agricultural firm TTC-Sugar, CTD of construction giant Coteccons, and SAB of major brewer Sabeco slid 5.7 percent, 5.6 percent and 5 percent respectively.
Mid-sized banks were some of the worse performers this session. MBB of state-owned Military Bank shed 4 percent, STB of private Sacombank 3.8 percent, VPB of private VPBank 3.6 percent, and TCB of private Techcombank 3.2 percent.
Of Vietnam’s three biggest state-owned lenders by assets, CTG of VietinBank dropped 3.9 percent, BID of BIDV 2.4 percent, and VCB of Vietcombank 1.3 percent.
VIC of private conglomerate Vingroup, HoSE’s biggest cap, shed 2 percent, while VHM of its real estate subsidiary and HoSE’s third largest cap Vinhomes dropped 2.4 percent.
EIB of private Eximbank was the only stock that bucked the trend this session, having shot up 7 percent, its ceiling price.
Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, shed 1.05 percent; and the UPCoM-Index for stocks on the Unlisted Public Companies Market slipped 1.99 percent.
Foreign investors were net buyers for the fourth consecutive session on all three bourses to the tune of VND310 billion ($13.39 million), with buying pressure focused VCB and two exchange traded funds.
This article was originally published in Vnexpress