City index ends week on a high
City index ends week on a high
Strong investor confidence continued to sustain trades on the HCM Stock Exchange yesterday, but profit-taking drove down shares on the Ha Noi bourse.
In HCM City, the VN-Index added 4.33 points or 0.74 per cent to close the session at 589.35 points as advancers outnumbered decliners by 118-79 and 103 stocks tread water.
Growth of major shares like Vinamilk (VNM), PV Gas (GAS), VinGroup (VIC) and Bao Viet Holdings (BVH) helped lift the index.
VNM climbed 2.36 per cent to VND130,000 (US$6.16) a share while BVH jumped 3.12 per cent to VND42,900 ($2.03), VIC increased 1.53 per cent and GAS went up 0.9 per cent.
The VN30, tracking the top 30 shares by market value and liquidity, also rose 0.61 per cent to end at 631.02 points.
Trading was bullish with market value up 25 per cent from the previous session, totaling over VND2.5 trillion ($118.5 million) on trades of nearly 133 million shares.
Realty stocks continued to draw investors. Four of the five most active codes were from this sector. FLC Group (FLC) replaced Tan Tao Investment Industry Corp (ITA) as the most heavily-traded stock, with 16.6 million shares exchanged, but the share price slipped 0.81 per cent to close at VND12,200 per share.
On the Ha Noi Stock Exchange, the HNX-Index gave up 0.27 per cent to end at 79.44 points, The HNX30 saw a 0.58 per cent decline, closing at 161.38 points.
Market conditions were overall positive, however, with 108 stocks rising, 90 tumbling and 160 closing flat.
According to analysts, many investors decided to take margins despite predictions driven by optimistic economic data that the current rally would continue.
Trading was sluggish as both market volume and value fell 50 per cent from Thursday, totaling 66.4 million shares worth VND686.4 billion ($32.5 million).
Saigon Thuong Tin Real Estate Co (SCR) was the most active code on the northern bourse with 8.3 million shares traded, rising 3.37 per cent to VND9,200 a share.
Foreign investors increased their buys yesterday on both exchanges and were responsible for a combined net buy value of nearly VND116 billion ($5.5 million).
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