Market reverses course, VN-Index up slightly
Market reverses course, VN-Index up slightly
Shares edged up on Wednesday morning, backed by gains in some pillar stocks.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 1.04 points, or 0.08 per cent, to 1,320.92 points. The index lost more than 11 points in the early session. Even though the market's breadth was still negative with 249 stocks declining, the liquidity was high.
During the morning trade, over 501.6 million shares were traded on the south bourse, worth nearly VND15.6 trillion (US$679.5 million).
The recovery of the index was mainly due to gains in some large-cap stocks, especially in the real estate and banking sectors.
The VN30-Index, tracking 30 biggest stocks in market capitalisation on HoSE, climbed 0.39 per cent to close the morning session at 1,444.62 points. Of the VN30 basket, 18 stocks reduced while 11 stocks jumped.
In the top five stocks influencing the market's trend, No Va Land Investment Group Corporation (Novaland, NVL) was the biggest gainer, up 5.18 per cent.
The other stocks posting big gains this morning included Asia Commercial Bank (ACB), Techcombank (TCB) and Vietinbank (CTG). These stocks all rose more than 1 per cent.
However, the gains were capped by losses in many other stocks like Vingroup JSC (VIC), Vietnam Rubber Group (GVR) and PetroVietnam Gas JSC (GAS).
On the Ha Noi Stock Exchange (HNX), the HNX-Index also rebounded on large-cap stocks. The index jumped 0.94 per cent to 309.28 points. The HNX-Index, which track 30 biggest stocks on the northern bourse, increased by 1.18 per cent to 479.7 points.
