Vietcap Daily - VN-Index drops 1.7% to close trading week

* Market wrap: VN-Index drops 1.7% to close trading week

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Market wrap: VN-Index drops 1.7% to close trading week

The VN-Index dropped 1.7% (-21.6 pts) to close the trading week at 1,279.9. The market’s slide was primarily led by the banks sector. In total, there were more than quadruple the number of laggards (366) compared to gainers (89) while 52 stocks were unchanged. Total trading volume jumped to USD1.2bn.

* Five of the ten stocks most negatively affecting the index were banks VPB (-3.9%), CTG (-3.2%), VCB (-1.02%), BID (-1.8%), and MBB (-1.9%). In contrast, LPB (+3.4%) surged.

* Several real estate stocks plunged, such as VIC (-2.8%), BCM (-2.5%), VRE (-1.2%), KDH (-2.9%), NVL (-1.4%), KBC (-3.4%), and PDR (-2.7%).

* Some of the large-cap decliners affecting the index in other sectors were rubber producer GVR (-6.7%), beer maker SAB (-3.4%), utility company GAS (-1.5%), steel maker HPG (-1.4%), and retailer MWG (-1.6%).

* A few of the large-cap gainers in the index were technology company FPT (+0.8%), airline HVN (+5.9%), pharmaceutical company DHG (+0.5%), logistics company VTP (+5.1%), and telecom towerco CTR (+6.9%).