VN-Index rebounds on blue chips

Jun 24th at 11:27
24-06-2017 11:27:26+07:00

VN-Index rebounds on blue chips

The benchmark VN-Index rebounded on Friday after two declining sessions on the recovery of several key stocks.

 

On the HCM Stock Exchange, the VN-Index was up 0.35 per cent to close at 769.01 points, expanding the market’s growth to 1 per cent for the week.

Bank stocks, which were the market engine in the past rally, saw divergence. The two of the three largest listed lenders – Vietinbank (CTG) and BIDV (BID) – recouped 0.3 per cent each. Vietcombank (VCB) closed unchanged while three other listed banks slipped between 0.7-1.9 per cent.

On the positive side, some large-cap stocks gained valued and supported the market.

Petrolimex (PLX) rose for five days in a row, up 2.7 per cent on Friday at VND71,400 (US$3.15) a share, gaining 13.6 per cent.

Vinamilk (VNM), brewery Sabeco (SAB), budget airline Vietjet (VJC) and insurer Bao Viet Holdings (BVH), in the top 10 largest shares by market value on HCM City’s bourse, also increased.

“As the leading bank shares are under profit-taking pressure while the second-quarter business results are not available, the market lacks supportive information,” market analysts at Vietnam Investment Securities Co (IVS) wrote in a note.

IVS’s analysts have suggested investors focus on potential stocks rather than on the VN-Index, as though the market index is moving in a narrow range, strong money inflows would continue to boost many stocks.

Overall market condition was positive with 162 stocks advancing, 119 declining and 54 ending flat.

Almost 255 million shares worth VND4.7 trillion ($27 million) were traded in the HCM City market, up 13.4 per cent in volume and 4.4 per cent in value compared to Thursday’s figures.

Money continued to flow into small- and mid-cap stocks, particularly real estate shares such as Hoang Quan Consulting-Trading-Service Real Estate (HQC), FLC Group (FLC), Dat Xanh Real Estate Service & Construction (DXG) and Sai Gon Thuong Tin Real Estate (SCR) with each having several million shares exchanged.

On the Ha Noi Stock Exchange, the HNX-Index slipped for a third day, down 0.34 per cent at 98.27 points.

Nearly 48.6 million shares worth VND623.6 billion ($27.5 million) were traded on the northern market.

Foreign investors concluded as net buyers on the two exchanges, picking up shares worth a combined VND136 billion.

bizhub



NEWS SAME CATEGORY

Petrolimex, Sabeco pull VN Index up

The rise of several key stocks pushed the benchmark VN Index up 0.1 per cent to close at 766.85 points on Friday morning.

Money flees blue chips, markets down

Shares sank for a second day on Thursday as large-cap stocks continued to suffer profit-taking pressure while money sought opportunities in small- and mid-cap...

VN-Index slips on blue chips

The benchmark VN-Index ended Thursday morning’s trade in negative territory despite a positive opening as many large-cap stocks continued to slump.

Bank shares drive market down

Shares declined for the first time in the last three days as banks lost momentum on Wednesday on rising profit-taking pressure after a long rally.

Shares correct downwards on profit taking

Shares declined on the two main bourses on Wednesday with profit-taking pressure increasing as the market keeps touching new peaks.

Shares up for second day

Shares advanced for a second day on the two national stock exchanges yesterday as investors increased their bets on bank stocks, given the positive outlook seen for...

VN Index slips on profit-taking pressure

The benchmark VN Index inched down 0.1 per cent to 766.4 points on Tuesday morning on rising profit-taking pressure, especially on large-cap stocks.

SE Asia Stocks-Rise as risk sentiment improves; Vietnam hits 9-yr high

Most Southeast Asian stock markets ended higher on Monday on improved risk sentiment as investors looked past the U.S. Federal Reserve's decision last week to raise...

Bank stocks rise on coming bad debt resolution

Shares ended Monday on a positive note as banks reacted to information that the new bad debt settlement resolution will likely be approved by the National Assembly...

Markets advance on investor confidence

Shares gained on Monday morning in both national stock exchanges on rising investor confidence with regard to a positive market outlook.

TRENDING


MOST READ


Back To Top