Market struggles but still inches higher
Market struggles but still inches higher
The market edged higher on Friday morning on gains of energy stocks. But downside risk remained as lingering selling pressure weighed on many large-cap stocks, especially in attractive sectors including banking and real estate.
The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 1.1 points, or 0.08 per cent, to 1,449.44 points.
The market's breadth was still negative, while liquidity fell. Of which, nearly 509.8 million shares were traded on the southern market, worth nearly VND14.2 trillion (US$625.9 million).
The benchmark extended gains on the back of energy stocks, with PetroVietnam Gas (PVGas, GAS) leading the uptrend this morning. The company shares rose 1.62 per cent.
Also supporting the index were gains in Petrolimex (PLX), Vinamilk (VNM) and Mobile World Investment Corporation (MWG), up in a range of 0.9 - 3.04 per cent.
Meanwhile the VN30-Index, which tracks 30 biggest stocks on HoSE, declined this morning, down 1.93 points, or 0.13 per cent, to 1,526.28 points. In the VN30 basket, 12 stocks rose, while 14 slid and four ended flat.
Profit-taking activities still weighed on large-cap stocks in banking and real estate sectors. Of which, Vinhomes posted the biggest loss, down 1.21 per cent. It was followed by Vietcombank (VCB) and BIDV (BID).
Foreign investors, however, returned to net sell on HoSE, with a value of VND54.63 billion.
On Ha Noi Stock Exchange (HNX), the HNX-Index climbed 3.66 points, or 0.87 per cent, to 426.08 points.
