Gas stocks drive market rally this morning
Gas stocks drive market rally this morning
Vietnamese shares continued their rally for the second day this morning, as energy firms made large gains.
The VN Index on the HCM Stock Exchange was up 0.2 per cent to close at 565.37 points, and the HNX Index on the Ha Noi Stock Exchange gained 0.9 per cent to finish at 77.40 points.
Gas firms led other shares on the market after the global oil price gained nearly six per cent yesterday.
At the end of the morning, large gas shares such as Petrovietnam Gas Corp (GAS) gained 5.4 per cent, Petrovietnam Drilling and Well Services (PVD) was up 3.2 per cent and Petroleum Technical Services (PVS) rose 2.4 per cent.
Other large-cap shares also improved to boost the market. Bao Viet Holdings (BVH) gained 1.1 per cent and Ma San Group (MSN) was up 1.3 per cent.
However, the banking sector was down 1.5 per cent at the end of the morning session, as the United States central bank remained uncertain about raising the interest rate.
The Bank for Investment and Development of Vietnam (BID) fell 6.8 per cent to suffer losses for the consecutive day.
Nhon Trach 2 Power Co (NT2) and Quang Nam Rubber Investment (VHG) were the most active stocks on the two bourses, with more than seven million of their shares being traded.
Foreign investors pushed for strong buying of NT2, getting more than 6.7 million of its shares by the end of the morning.
Two local bourses traded more than 73.5 million shares, worth VND1.13 trillion (US$50 million).
