Shares rise on the growth of bank stocks

Jul 19th at 08:24
19-07-2023 08:24:20+07:00

Shares rise on the growth of bank stocks

Shares managed to gain on Tuesday thanks to the growth of pillar stocks in the banking group.

 

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 0.08 per cent to close at 1,174.09 points.

The market’s breath was in the negative zone, with losers outnumbering gainers 272 to 188.

More than 837 million shares were traded on the southern exchange, worth VNDĐ16.8 trillion (US$710.4 million).

Banking stocks performed positively and bolstered the increase of the market with gainers including Techcombank (TCB), VietinBank (CTG), Việt Nam International Commercial JS Bank (VIB), Saigon-Hanoi Commercial JS Bank (SHB), and Tiên Phong Bank (TPB).

“The market continued to remain in the green but saw strong dispute. The gain was still modest, which shows that the cash flow is still cautious after the increase in supply,” said Việt Dragon Securities Co.

“The positive point in the session was that the supply temporarily cooled down and did not put great pressure on the market. With this signal, it is likely that the market will maintain an uptrend in the near future, but it will move slowly and continue to explore supply and demand.

“Therefore, investors still need to observe market movements to assess the effort of cash flow. At present, it is possible to continue holding stocks with good signals from the accumulation base, however, it is necessary to consider taking profits at stocks that have risen rapidly to the resistance zone or are under selling pressure from the resistance zone.”

The VN30-Index, which tracks the 30 biggest stocks on the HoSE, also finished higher, up 0.19 per cent, to end at 1,166.82 points.

In the VN30 basket, 10 stocks inched up, while 17 went down and stayed flat.

“It is likely that the market will still gain in the near future, but the movement will be slow and there will be a state of supply and demand dispute. Therefore, investors can continue to hold stocks with good signals from the accumulation base. However, it is still advisable to consider taking profits or reducing the weight of stocks that have risen rapidly to the resistance zone or are under great selling pressure from the resistance zone,” said Việt Dragon Securities Co.

On the Hà Nội Stock Exchange (HNX), the HNX-Index finished unchanged at 230.96 points.

During the sessions, investors poured nearly VNĐ1.5 trillion into the northern exchange, equal to a trading volume of more than 95.8 million shares. 

bizhub



RELATED STOCK CODE (5)

NEWS SAME CATEGORY

Retail stocks on track to rebound

Poor business performance is affecting retail stocks on the market, but the industry is showing signals of recovery, said experts.

Realty stocks lead market gains as fresh week commences

Shares extended gains this week despite mounting caution among investors, driven by a spur in the real estate sector.

Funds record positive performance in the first half

Open-ended funds recorded positive performance in the first half of this year with most enjoying profits.

VN-Index likely to head toward 1,180-1,200 points this week

The Vietnamese stock market gained for the second week in a row, with the VN-Index hitting the highest so far this year. Experts said that positive news had lured...

VN-Index ends week-long gain with high liquidity

Shares on the Hồ Chí Minh Stock Exchange witnessed consistent gains throughout the week, with the VN-Index rising 0.26 per cent to close Friday at 1,168.40 points...

Major bourses to hail raft of fresh supplies

Two major bourses are about to draw a large volume of new stocks from fresh comers, additional issuances, and those being removed from the unlisted public company...

VN-Index hits highest in nearly 10 months on bullish sentiment

The market’s benchmark VN-Index extended its rally on Thursday to the highest point since September of last year, buoyed by demand for riskier assets from both...

Funds disburse nearly $25 bln in H1

Domestic and foreign funds have disbursed up to 5.84 trillion (US$24.69 billion) in the first half of 2023 after the capital flow of exchange-traded funds (ETFs)...

Securities firms speed up the digital race

Competition on digitisation in securities trading is creating a driving force for the development of financial firms, and at the same time bringing many benefits...

Shares mixed on mounting investor caution

Shares rose for a third day this week on HCM City’s bourse but reversed to slump in Ha Noi as caution mounted among investors.

TRENDING


MOST READ


Back To Top