VN-Index surges to over 925 points

Domestic stock trade seesawed before it made a sharp recovery yesterday, February 11, following the long Lunar New Year holiday, with the VN-Index of the Hochiminh Stock Exchange beating the strong resistance level of 925 points.


The main index closed at an intraday high of 926.1 points, jumping a massive 17.43 points, or 1.92%, against the last trading day of the previous lunar year on February 1. VIC, a property giant, was the key driver for the rebound as it soared 5.3% at VND104,000 with matching volume of 527,000 shares.

However, market revenue fell strongly as investors remained cautious, with volume and value losing 11% and 19% from the session earlier to 124.6 million shares worth VND2.9 trillion.

The banking sector performed strongly as nine out of 10 listed banks gained ground, in which VCB added 2.8% at VND58,100. STB and MBB were the most actively traded stocks on the southern market with 6.8 million and 4.2 million shares changing hands, up 4.4% and 0.9% at VND12,950 and VND22,050, respectively.

Among the oil and gas stocks, GAS gained 2.8% at VND90,500 per share, alone contributing nearly two points to the VN-Index. Meanwhile, PLX climbed 3.9% to close at an intraday high of VND55,600 and PVD grew 2.1% at VND16,650.

Most stocks in the securities sector advanced. HCM went up to its ceiling price of VND48,000. SSI also added 3.1% at VND26.900 while VND surged 5% at VND16,800.

For the steel sector, HPG bounced back after a four-day losing streak, gaining 5.9% to close at near the ceiling price of VND28,900. NKG edged up 2.5% at VND6,200 while POM rose 4.9% at VND8,500.

HAI, an agricultural chemical firm, stood out among speculative stocks as it rose to its upper limit of VND1,910 due to high investor demand. The firm reported matching volume of 3.2 million shares.

On the Hanoi Stock Exchange, the HNX-Index also ended the session at the intraday high of 105.25, soaring 1.85% versus the previous session and extending its winning streak to the fifth straight session.

Turnover on the northern market improved with volume and value jumping 52% and 67% at 32.1 million shares worth VND364 billion, while block deals were modest with the combined value of VND6.5 billion.

Lender SHB took the lead by liquidity with matching volume of 9.4 million shares, rising 5.6% at VND7,600. Its fellow bank ACB inched up 2.4% at VND30,200.




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