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Tuesday,  Oct 24,2017,16:32 (GMT+7)

VN-Index strongly bounces back

Phuong Thao
Wednesday,  Mar 15,2017,23:37 (GMT+7)
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VN-Index strongly bounces back

Phuong Thao

HCMC – The stock market regained ground on March 14 after three consecutive falling sessions with cash continuing to flow into property stocks. The VN-Index added 4.54 points, or 0.64%, against the previous day to close at 714.71.

Among the 10 volume leaders on the HCMC exchange, eight were in the real estate and construction sectors. FLC took the lead with 17 million shares exchanged, rising a slight 0.3% at VND7,700 per share, followed by DLG with 7.1 million shares and HQC with 6.5 million shares.

HBC, ROS, DXG, HAG and ITA also saw high trading volumes. HBC and ROS made strong gains while DXG and ITA closed at their reference prices. However, turnover on the bourse slid again as investors were cautious when the VN-Index approached the 715-point level, with trading volume falling 8% to 134.8 million shares with a combined value of VND3.2 trillion.

The put-through market was active with more than 8.8 million shares worth VND335.7 trillion changing hands, including bloc deals of 1.56 million NVL shares worth VND117 billion and 2.4 million HAG shares worth VND18.3 billion.

SAB bounced back after six days of losses, jumping 3.4% to VND214 per share on strong foreign buying. Foreign investors net sold nearly 1.5 million NVL shares but the firm, which had recently been added to the exchange traded fund (ETF) VNM, still advanced 3.9% at VND75,500 each with volume of 845,000 shares.

HVG, which had been removed from the ETF’s portfolio, went up to the ceiling price of VND6,480 per share with 957,000 shares exchanged. ROS also added 1.3% at VND175,500 a share with matching volume of over four million shares.

On the other hand, high selling pressure sent VCB to the reference price while large caps VIC, BID, CTG, MBB and FPT were among decliners.

According to tinnhanhchungkhoan.vn news site, investor caution was understandable as the market had seen unpredictable developments in previous sessions. Investors are keeping a close watch on an interest rate hike decision by the U.S. Federal Reserve and ETFs’ quarterly portfolio rebalancing.

The Hanoi exchange went in tandem with the southern bourse with the HNX-Index gaining 0.14 point, or 0.17%, at 87.16. There were 44.2 million shares worth VND508 billion changing hands, down 12% against the previous session.

TVC was the most outstanding stock as it hit the ceiling price for the second straight session, closing at VND15,000 per share with matching volume of 3.45 million shares. SHB took the lead for liquidity with nearly 4.9 million shares but it moved sideways at VND5,000 a share.

PVX was the most actively traded stock in the petroleum sector with 2.5 million shares, jumping 4.5% at VND2,300 a share.

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