128 million Novaland shares sold in one session

Created 23 November 2022
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Over 128.5 million NVL shares of property developer Novaland Group were bought Tuesday in a roller-coaster trading day but still the ticker closed its 14th session at floor price.
128 million Novaland shares sold in one session

The ticker rose by nearly 4% in the morning but started to fall before noon and closed on the floor with a 7% decline.

Its trading volume surged 200 times from Monday.

NVL has been closing at floor price since November 3, pushing the group’s chairman Bui Thanh Nhon out of the Forbes billionaire list and from the top 20 richest people on the Vietnam stock market.

NVL is now traded at VND25,350 ($1.02), lowest since 2017.

PDR of Phat Dat Real Estate Development also saw a new record in trading volume Tuesday at 34.9 million shares, up 200 times from Monday.

The ticker still closed its 25th session in the red. It is now traded at VND15,950, lowest since September 2020.

Vietnam’s benchmark VN-Index closed 0.89% lower Tuesday at 952.12 points.

The VN30 basket, comprising the 30 largest capped stocks, saw 18 tickers falling.

Apart from NVL and PDR, some major decliners were VIC of biggest private conglomerate Vingroup, down 4.7%, and MSN of conglomerate Masan Group, down 3.5%.

Eleven blue chips gained.

PLX of fuel distributor Petrolimex went up 3.6%, and BID of state-owned lender BIDV rose 2.7%.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 1.17% while the UPCoM-Index for the Unlisted Public Companies Market rose 1.14%.

Source: VNE

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