Markets end mixed, City extends rally

Mar 13th at 10:40

13-03-2014 10:40:06+07:00

Shares yesterday managed to maintain the upward trend for the sixth trading day on the HCM City Exchange with high liquidity while tumbling on the Ha Noi Exchange.

The VN-Index edged up 0.26 per cent to end the day at 590.02 points, although decliners overwhelmed advancers by 143-98.

The trading value on the southern bourse reached VND3.08 trillion (US$146.7 million), rising 23 per cent over Tuesday's closing, and more than 177.8 million shares were traded during the day.

The VN-Index even reached 596 points in the early afternoon trading, but its rise was halted due to strong profit booking selling pressure and closed higher than yesterday.

Although half of the blue chips in the VN30-Index package lost value yesterday, the index today closed up 0.34 per cent at 663.84 points, thanks to the huge gains registered by 13 blue chips.

Vingroup increased VND2,000 (US$0.097) per share, Vinamilk (VNM) closed up VND1,000 (US$0.047), Hoa Phat rose VND1,600 (US$0.076), and Bao Viet Group (BVH) and HCM City Infrastructure Investment Corporation (CII) both gained VND1,200 (US$0.057) per share.

Technology FTP Group (FPT) ended VND500 ($0.023) per share yesterday on news that the company will offer dividends to its shareholders.

Those blue chips supported the benchmark indices to gain yesterday, against losses registered by banking stocks.

Vietinbank (CTG), Eximbank (EIB), Military Bank (MBB), and Sacombank (STB) all closed in the red yesterday. Vietcombank (VCB) also closed in the red yesterday.

Shares of the Hoa Sen Group (HSG) dropped 2.6 per cent yesterday after its chairman sold 24 million HSG shares out of the nearly 43 million shares of his holdings.

According to FPT Securities, yesterday's gain on the southern bourse was unstable when the selling pressure for profit-taking was seen to intensify in many stock groups.

On the northern bourse, the HNX-Index slid 0.56 per cent to finish at 83.17 points, while the HNXFF-Index, composed of stocks with a minimum free-float rate of 5 per cent, dropped 0.59 per cent, or as much as 0.71 per cent, to end at 82.92 points.

Liquidity declined as compared to Tuesday, with more than 87 million shares changing hands with a total value of VND890 billion ($42.38 million).

Tracking the capital city's 30 largest shares by capitalisation and liquidity, the HNX30-Index ended at 166.19 points with a loss of 0.57 per cent.

PetroVietnam Construction Joint Stock Corporation (PVX) decreased 2 per cent to VND5,000 ($0.23) after the announcement on the withdrawal of capitals out of its listed members, but still lead by capitalisation with about 10 million shares traded yesterday.

After being net sellers for seven consecutive trading days, foreign investors concluded as net buyers on the HCM City Exchange yesterday with a net value of VND45.72 billion ($2.17 million).

The HCM City Exchange yesterday announced that the Vinaland Invest Corporation (VNI) will not be a part of the VNSmallcap package as the stock had been put under control since last April.

Seven years ago, the VN-Index had set a record of 1170.67 points on March 12, 2007.

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