Market edges higher, fertiliser stocks surge
Market edges higher, fertiliser stocks surge
Viet Nam's stock market ended higher on Wednesday as the VN-Index bounced back in the afternoon session.
The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) reversed course to edge higher in Wednesday's trade after dropping 0.38 per cent in the morning session. The index rose slightly 0.03 per cent to 1,186.95 points.
The market breadth turned positive at the end of the session with 270 stock rising, while 168 stocks decreased. And 64 stocks stayed unchanged.
While a total of over 628.77 million shared were traded today on the southern market, worth VND15.15 trillion, an overload occurred again on HoSE in the afternoon session.
In a daily report, Bao Viet Securities Co. said that the index might face corrections earlier in the sessions before recovering at the end of the session. And the market needs more time to accumulate to break over 1,200 points level in the near future.
The market received support from the containment of COVID-19 outbreaks and the upward trends of global markets, the company added.
However, strong selling pressure still weighed on the market, with many big stocks falling.
The VN30-Index, tracking the 30 biggest stocks on HoSE, gained 0.07 per cent to finish at 1,195.6 points. The index lost 0.37 per cent in the morning session. Eleven of the 30 large-cap stocks in the VN30 basket rose, while 15 stocks dropped.
Stocks from real estate and banking sectors still influenced the market's trend.
Top five stocks contributing to the gain of the market were Investment And Industrial Development Corporation (BCM) up 5.35 per cent, Vietinbank (CTG) up 1.58 per cent, VPBank (VPB) up 2.09 per cent, No Va Land Investment Group Corporation (NVL) up 2.65 per cent and Vincom Retail JSC (VRE) up 2.31 per cent.
Fertiliser stocks also recorded big gains today with DAP - VINACHEM JSC (DDV) up 14.75 per cent, Lam Thao Fertilizers And Chemicals JSC (LAS) up 10 per cent, Petro Viet Nam Ca Mau Fertilizer JSC (DCM) up 6.69 per cent and Duc Giang Chemicals Group JSC (DGC) up 6.98 per cent.
Meanwhile, Vingroup JSC (VIC), Vinhomes JSC (VHM) and Vietcombank (VCB) extended their losses and limited the index's gain.
On the Ha Noi Stock Exchange (HNX), the HNX-Index posted an increase of 2.48 per cent to end the trading day at 254.1 points. The HNX30-Index recovered from earlier losses, up 0.56 per cent to 375.61 points.
Domestic investors poured nearly VND2 trillion into the northern bourse on Wednesday, equivalent to over 131.1 million shares.
In general, the market's liquidity was high with a total 821.9 million shared traded, including trading volume on UPCOM, worth nearly VND18.2 trillion.
Meanwhile, foreign investors were still net sellers on HoSE and HNX, with a net value of VND471.95 billion on the southern bourse and a net sell value of VND7.6 billion on the northern market.
