Oil stocks sustain the market
Oil stocks sustain the market
The benchmark VN-Index inched up 0.1 per cent to touch 658.9 points this morning, propped up by oil and gas stocks, despite the decline of several large-cap stocks.
The market's breadth was neutral on the HCM Stock Exchange, with 98 stocks advancing, 98 declining and 113 closing unchanged.
Half of the 30 largest listed stocks by market capitalisation slipped, led by financial and bank shares such as Vietcombank (VCB), Vietinbank (CTG), Sacombank (STB) and Saigon Securities Inc (SSI), besides HCM Securities Co (HCM) and private equity firm Masan Group (MSN).
Only 10 added value, including dairy giant Vinamilk (VNM) and oil and gas stocks such as PV Gas (GAS) and PetroVietnam Drilling and Wells Service (PVD).
Global oil prices rose for the second day to reach a five-week high yesterday, after the Organisation of Petroleum Exporting Countries (OPEC) said Saudi Arabia wanted oil prices to keep recovering.
Other shares such as PetroVietNam Low Pressure Gas Distribution, PetroVietnam Technical Services and PetroVietnam Drilling Mud rose by less than one per cent this morning.
On the Ha Noi Stock Exchange, the HNX-Index closed almost unchanged at 83.5 points.
More than 91 million shares, worth VND1.6 trillion (US$71 million), were traded on the two markets.
The afternoon session starts at 1pm.
