Stocks rebound with petrol price cut
Stocks rebound with petrol price cut
Stocks rebounded slightly this morning, as the market cheered the reduction in petrol prices late yesterday.
The performance of businesses is expected to improve as input costs fall substantially.
On the HCM Stock Exchange, the VN-Index inched up 0.16 per cent to close at 570.03 points, and the VN30, which tracks the top 30 shares by market value and liquidity, stayed flat at 606.54 points.
The market condition was negative, however, as the losers outnumbered the gainers by 107 to 73, while the other 128 stocks remained unchanged.
Blue chips provided the momentum, with the gains made by PV Gas (GAS), PetroVietnam Drilling Wells Service Corp (PVD), Vinamilk (VNM) and Eximbank (EIB), besides Vietinbank (CTG) supporting the market.
Liquidity remained low with 39 million shares worth VND683 billion (US$32 million) being exchanged.
In contrast, the HNX-Index on the Ha Noi Stock Exchange dived 0.44 per cent to end at 84.25 points, with the trading value being VND247 billion ($11.5 million).
Only three codes here saw trading of more than one million shares, led by KLF Joint Venture Global Investment Co (KLF) with the exchange of 6.2 million of its shares. The share price dropped 1.79 per cent to stand at VND11,000 per share.
The afternoon session will start at 1pm.
