Stocks gain slightly on bargain hunting
Stocks gain slightly on bargain hunting
Shares rose slightly on both local markets on Wednesday morning on late bargain hunting by investors.
The benchmark VN Index on the HCM Stock Exchange was up 0.07 per cent to close at 768.05 points.
The HNX Index on the Ha Noi Stock Exchange inched up 0.03 per cent to end at 98.05 points.
The VN Index and HNX Index lost 0.7 per cent each on Tuesday.
More than 174.4 million shares were traded on both local bourses, worth VND2.62 trillion (US$116.8 million).
Large-cap stocks had a mixed performance with 17 of the 30 largest companies by market capitalisation on the VN30 Index advancing.
Analysts mostly attributed the slight recovery of the stock market to investors’ bargain hunting, which resulted in stocks being scooped up following declines on Tuesday.
Gainers included PetroVietnam Drilling and Well Services (PVD), PetroVietnam Gas (GAS), dairy producer Vinamilk (VNM) and Sai Gon Securities Inc (SSI).
On the opposite side, Vietcombank (VCB) and property developer Vingroup (VIC) were among the stocks that continued to suffer from strong selling and ended in negative territory.
The afternoon sessions starts at 1pm.
