Shares rise slightly on blue chip recovery
Shares rise slightly on blue chip recovery
Shares rose slightly this morning on the two stock exchanges as many large-cap stocks recovered, particularly energy stocks, following the sharp rise in the global oil market.
The benchmark VN-Index on the HCM Stock Exchange inched up 0.1 per cent at 675.1 points. while the HNX-Index on the smaller exchange in Ha Noi was up 0.2 per cent at 81.3 points.
Both indices increased 0.2 per cent and 0.3 per cent, respectively, on Tuesday.
Several large-cap stocks gained this morning, including the highest-valued ones, such as dairy firm Vinamilk (VNM), real estate giant VinGroup (VIC), lender BIDV (BID) and insurer Bao Viet Holdings (BVH), as well as private equity firm Masan Group (MSN) and steelmakers Hoa Phat Group (HPG) and Hoa Sen Group (HSG).
Of the 30 largest shares by market capitalisation, 17 advanced and only six declined.
Energy stocks lifted the market after global oil prices climbed six per cent yesterday, the highest growth in the past seven months, on expectations that the Organisation of Petroleum Exporting Countries would reach a consensus on oil production cut by the end of this month.
Leading oil and gas shares, such as PetroVietnam Drilling and Wells Service (PVD), PetroVietnam Technical Services (PVS), PetroVietnam Drilling Mud (PVC) and PetroVietnam Coating (PVB), gained 2-9 per cent each.
However, PV Gas (GAS), the largest listed oil stock, was unchanged.
A total of 82 million shares worth nearly VND1.3 trillion (US$57.2 million) were traded on the two markets by the end of morning trade.
Afternoon trade starts at 1pm.
