Blue chips spur VN-Index

Jan 9th at 13:05

09-01-2013 13:05:27+07:00

Solid gains in blue chips continued to support the VN-Index January 8, pushing it up to an eight-month high of 447.16 points, while the VN30 tracking the top 30 shares was also up 3.18 per cent, closing at 525.36 points.


Source: VietstockFinance

Twenty five of the top 30 on the bourse gained in value, with 13 closing at their ceiling prices.

"Aggressive foreign buying of blue chips and profit-taking selling boosted local sentiment, with a huge volume of 225 million shares being transferred to their accounts," FPT Securities Co's analysts wrote in yesterday's report.

They said solid gains up to the ceiling prices of key stocks like Bao Viet Holdings (BVH), Tan Tao Industry Investment (ITA), Masan Group (MSN), PetroVietnam Finance (PVF) and Ocean Group (OGC) cemented their belief that the current upturn would continue for the foreseeable future, especially with the support of foreign buyers.

Foreign traders yesterday collected another net buy of nearly VND202 billion ($9.7 million) worth of shares.

The total trading volume jumped 55 per cent over Monday's level, reaching 121.1 million shares, while value of trades soared 80 per cent to more than VND2 trillion ($95.7 million).

Military Bank (MBB) was the most active code with trades of 5.3 million shares, with value rising 3.82 per cent to VND13,600 a share.

On the Ha Noi Stock Exchange, the HNX-Index increased 1.61 per cent to 59.95 points, led by speculative stocks like Sai Gon-Ha Noi Bank (SHB), property developer Sacomreal (SCR), VNDirect Securities (VND), Kim Long Securities (KLS) and PetroVietnam Construction (PVX).

Trading improved slightly from the day before, totaling 96.56 million shares worth VND669.3 billion ($32 million).

SHB was again the most heavily-traded stock nationwide with a whopping 20.3 million shares exchanged, closing 4.62 per cent up at VND6,800 a share.

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