Investors watch stock prices on the MB Securities trading floor (Source: VNA)
Hanoi (VNA) - The benchmark VN-Index sank for the first time in thelast five sessions on March 9 as oil and gas stocks slumped on the back ofglobal oil losses.
Onthe HCM Stock Exchange, the VN-Index edged down 0.11 percent to close at 715.8points. The southern market index had gained 1.3 percent in the past fivesessions.
Large-capstocks saw a divergence as major firms like dairy giant Vinamilk (VNM), brewerySabeco (SAB), insurer Bao Viet Holdings (BVH) and real estate developerVinGroup (VIC) lost value under high selling pressure.
Dueto drops in global oil prices, big energy firms such as PV Gas (GAS),PetroVietnam Drilling and Wells Service (PVD), PetroVietnam Technical Service(PVS) and PetroVietnam Drilling Mud (PVC) declined between 1.7 percent and 2.4 percent.
Onthe bright side, bank stocks performed well and cushioned the market. Out ofnine listed banks, only Eximbank (EIB) and Sacombank (STB) slipped; othersincreased slightly, led by Military Bank (MBB) up 3.2 percent while Vietcombank(VCB) and Vietinbank (CTG) rising by less than 1 percent.
Onthe Hanoi Stock Exchange, the HNX-Index extended a rally to three consecutivedays, up 0.21 percent to end at 87.72 points, lifting the three-day growth to1.3 percent.
Liquidityremained high with a total of 238 million shares worth a combined 4.2 trillion VND(184.2 million USD) traded in the two markets.
Foreigninvestors were net sellers for 66.3 billion VND in the HCM City’s market on March9 but they picked up shares worth a net value of 4.5 billion VND on the Hanoi exchange.-VNA
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Investors watch stock prices on the MB Securities trading floor (Source: VNA) 
