Blue chip gains pull up indices

Blue chip gains pull up indices

Shares rebounded yesterday on the HCM City Stock Exchange, led by blue chips.

The benchmark VN-Index climbed 0.87 per cent to close at 599.04 points while the VN30, tracking the top 30 shares by market value and liquidity, increased 0.63 per cent to end at 638.98 points.

Market condition was positive as advancers outnumbered decliners by 117-87 and the other 100 closed flat.

Gains of large-cap shares supported the market. Real estate giant VinGroup (VIC) advanced 3.3 per cent, dairy producer Vinamilk (VNM) rose 1.48 per cent and insurer Bao Viet Holdings (BVH) was up 3.39 per cent. PetroVietnam Drilling and Well Services Corporation (PVD) rose 4.25 per cent.

However, market value was modest as just 71.6 million shares worth more than VND1.2 trillion (US$57 million) were exchanged.

FLC Group (FLC) secured the position of the most active share with a whopping 15.7 million shares traded, but the share price dipped 1.5 per cent to close at VND13,100 per share.

On the Ha Noi Stock Exchange, the HNX-Index gained 0.66 per cent to stand at 79.53 points.

The HNX30 Index, tracking the 30 largest stocks in terms of market value and liquidity, also rose 0.77 per cent to end at 158.94 points. Market volume declined 40 per cent from the previous session, totaling nearly 30 million shares worth nearly VND413 billion ($20 million).

PetroVietnam Construction Corporation (PVX) was the most active, closing unchanged at VND4,500 per share with 3 million shares traded.

According to many stock analysts, trading is usually lackluster during August as investors prepare for the fourth quarter.

Foreign investors concluded yesterday as net buyers in HCM City's market, picking up shares worth VND32.54 billion ($1.5 million). They were net sellers on Ha Noi's bourse, however, reaching nearly VND480 million ($22,750) in trading value.

vir