Market inches higher on strong demand
Market inches higher on strong demand
The benchmark indices rose on Thursday morning, backed by gains in some large-cap stocks. However, downside risk remained due to lingering selling force.
The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) inched 6.06 points, or 0.41 per cent, higher to end the morning trade at 1,481.91 points. The index lost more than 4 per cent in early trade as strong selling pressure weighed on stocks, especially large-cap stocks.
The market breadth was negative with 212 stocks increasing while 242 stocks declined. During the morning session, investors poured more than VND20.4 trillion (US$901.3 million) into the southern bourse, equivalent to a trading volume of more than 650.15 million shares.
The VN30-Index declined 2.3 points, or 0.15 per cent, to 1,517.28 points. Twelve of 30 biggest stocks in the VN30 basket rose, while 15 stocks slid and three stocks stayed unchanged.
Supporting the VN-Index, demand for some large-cap stocks, especially financial and real estate stocks, was higher.
Of which, BIDV (BID) led the supportive group, up 2.52 per cent. It was followed by SSI Securities Corporation (SSI), Vingroup (VIC) and Development Investment Construction JSC, data compiled by vietstock.vn showed, with SSI hitting the biggest intraday gain of 7 per cent.
On the contrary, the rally trend was capped by active profit-taking activities. Hoa Phat Group (HPG), PV Gas (GAS) and VPBank (VPB) were three stocks posting the biggest losses this morning, down in a range of 0.97 - 2.14 per cent.
On the Ha Noi Stock Exchange (HNX), the HNX-Index edged 4.83 points, or 1.04 per cent, higher to 467.78 points.
