Bank stocks help boost VN-Index

May 11th at 10:56

11-05-2016 10:56:55+07:00

Local shares posted mixed results yesterday on the two exchanges, foreign investors retuned to their net buy in the southern bourse of the HCM Stock Exchange.

Seeing a wide decline in the overall market, however, the benchmark VN Index on the HCM Stock Exchange rose 1.2 points or 0.2 per cent to reach 605.05 points in HCM City thanks to some banking stocks and two transactions of three million shares of realty Vingroup (VIC) and 28 million shares of agriculture firm of Hoang Anh Gia Lai Agricultural Group (HNG).

While banks were the major factor that drove the VN Index down on Monday, they were the major supporters lifting the index up yesterday, according to Sai Gon-Ha Noi Securities Corp (SHS)'s daily report.

Shares of the Bank for Investment and Development of Viet Nam (BID) and the Viet Nam Commercial Joint Stock Export Import Bank (EIB) increased 2.8 per cent each while Vietcombank (VCB) also closed up 1.25 per cent, and Vietinbank (CTG) added 0.58 per cent.

Representing insurance stock, Bao Viet Group (BVH) gained 1.75 per cent and was among one of the stocks bought by foreign investors on HoSE. Other contributors of the day included shares of technology group FPT Group (FPT), PetroVietnam Fertiliser and Chemicals Corporation (DPM), and HCM City Infrastructure Investment JSC (CII).

Meanwhile, the large-cap shares group, Viet Nam Dairy Products Joint Stock Company (VNM) lost 0.69 per cent while Masan Group (MSN) and PetroVietnam Gas Joint Stock Corporation (GAS) stayed unchanged from Monday.

Stocks of the two biggest securities firms, HCM City Securities Corp (HCM) and Sai Gon Securities Inc (SSI), continued to experience losses while Kim Long Securities (KLS) added 2 per cent. Shares of the Sai Gon-Ha Noi Securities Corp (SHS) and VNDirect Securities Corporation (VND) stayed unchanged in the market.

The HNX Index on the Ha Noi Stock Exchange lost 0.2 points or 0.25 per cent to end at 80.2 points. The majority on the northern bourse were losers with 119 decliners and 84 advancers.

Shares which most influenced the northern bourse such as Asia Commercial Bank (ACB), PetroVietnam Technical Services Corporation (PVS) and Drilling Mud Joint Stock Corporation (PVC) all declined yesterday.

At the end of the day, both local markets combined traded more than 183.3 million shares, worth nearly VND2.9 trillion (US$128.8 million). The foreigners net bought 1.79 million shares on the two exchanges, up nearly five-fold compared to last week's session. The foreign buying value of the day reached VND76.9 billion.

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