Blue chips lead stockmarket surge

Jan 14th at 13:32

14-01-2014 13:32:33+07:00

Shares advanced on both national stock exchanges yesterday, with the benchmark in the southern bourse exceeding the 520-point level thank to blue chips' support.

The VN-Index gained 0.42 per cent to reach 521.11 points. However, investors were showing caution, with liquidity strongly declining over Friday's trading.

Nearly 80 million shares worth VND1.14 trillion (US$54.28 million) changed hands yesterday.

Of the southern bourse's 30 largest stocks by capitalisation and liquidity, losers overwhelmed gainers by 12-9, but the VN30-Index increased 0.08 per cent to 576.61 points.

The increase was due to gains from shares of PetroVietnam, including PetroVietnam Drilling (PVD) which rose VND2,000 ($0.098) per share to VND66,500 ($3.16). PetroVietnam Low Pressure Gas Distribution (PGD) increased VND1,100 ($0.05) to VND39,600 ($1.88) per share and PetroVietnam Chemicals and Fertilisers Company (DPM) went up VND500 ($0.023) per share to VND42,900 ($2.04).

Other advancers included Southern Rubber Company (CSM), Da Nang Rubber Company (DRC), FPT Group (FPT), Kinh Do (KDC), Hoa Phat Group (HPG) and Sai Gon Securities (SSI).

SSI was the most active stock in the securities sector yesterday, leading the bourse in liquidity with nearly four million shares traded.

Of the blue chips, Vinamilk (VNM) lost VND1,000 ($0.048), Vietcombank (VCB) lost VND300 ($0.0014) and Bao Viet Group (BVH) was down VND400 ($0.019) per share yesterday.

Shares managed to rebound yesterday on the northern bourse, with the HNX-Index closing 0.4 per cent higher at 71.05 points.

The HNXFF-Index, composed of stocks with the minimum free float rate of 5 per cent, edged up 0.28 per cent to 70.88 points.

The total trading value reached VND419 billion ($19.9 million) on the exchange of more than 47.48 million shares.

The HNX30-Index, comprised of the capital city's top shares, finished 0.64 per cent higher to reach 135.78 points.

Foreign investors concluded yesterday as net buyers, purchasing stocks worth VND86.8 billion ($4.13 million).

Since the beginning of this year, foreign buyers poured VND368 billion ($17.52 million) into the Viet Nam stock market with a focus on buying blue chips such as PetroVietnam Gas (GAS), Masan Group (MSN) and Vietcombank (VCB).

According to FPT Securities, the upward trend would continue in the medium term.

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