Blue chips support VN-Index

Dec 12th at 13:11

12-12-2012 13:11:04+07:00

Shares extended gains December 11 on both stock exchanges, boosted by rises of large-cap shares.


Source: VietstockFinance

The Vn-Index added 0.69 per cent to close yesterday's session at 389.37 points. Trading value rose 15 per cent over Monday's level, reaching more than VND556 billion (US$26.6 million).

Insurer Bao Viet Holdings (BVH) and property developers Hoang Anh Gia Lai (HAG) and VinGroup (VIC) jumped 3.5 per cent while Vietinbank (CTG), Vietcombank (VCB) and PetroVietnam Finance (PVF) rose between 1-2.7 per cent.

The VN30 tracking the top 30 shares on the bourse was up 0.49 per cent to 455.90 points.

"The rally was seen in the closing session and mostly in blue-chip stocks. This can be attributed to the purchase of ETFs (exchange-traded funds) as investment funds prepare to book their NAVs (net asset values) at the year-end," said Nguyen Xuan Binh, analyst with Bao Viet Securities Co.

Binh said this movement was likely to occur in several sessions this week and next week, but added that it would not significantly affect speculative stocks on the two exchanges. Six codes saw trades of more than 1 million shares yesterday, of which Tan Tao Investment Industry Corp (ITA) became the most active with 1.54 million shares changing hands, closing flat at VND4,100 a share.

On the Ha Noi Stock Exchange, the HNX-Index opened low but managed to maintain the green by the end of yesterday's session, finishing up 0.02 per cent at 52.72 points.

More than 50 million shares changed hands yesterday, the highest volume in the past three months. They were worth VND275 billion ($13.2 million). Property developer Sacomreal (SCR) was again the most active code on whopping trades of 8.4 million shares, climbing 6 per cent to VND5,300 a share.

Foreign investors ended yesterday as net buyers in the HCM City market, picking up shares worth a combined VND79.24 billion ($3.8 million), but they were net sellers on the Ha Noi exchange, unloading shares worth VND1.6 billion ($76.6 million).

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