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Stocks skyrocket on strong turnover

Phuong Thao
Tuesday,  Nov 14,2017,20:49 (GMT+7)
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Stocks skyrocket on strong turnover

Phuong Thao

HCMC – Stocks kept rallying for a seventh straight session on November 13, lifting the VN-Index up by a massive 11.13 points, or 1.28%, against last Friday at 879.34.

Heavyweights again were top contributors to the advance. VNM, a leader in the dairy sector, gained 6.4% at VND185,000 a share with matching volume of 4.3 million shares after the successful sale of State-held VNM shares last week.

Meanwhile, brewery firm SAB increased 1.27% at VND282,200 per share while real estate firm VIC added 3% at an intraday high of VND68,000 a share. Among the top 10 stocks by market capitalization, only lender CTG and consumer goods producer MSN declined, losing 0.25% and 0.84% at VND20,600 and VND59,900 a share respectively.

Aside from CTG, many bank stocks closed in negative territory. MBB was the most actively traded stock in the sector with 6.3 million shares changing hands, losing 2.1% from the session earlier at VND23,600 a share.

Turnover on the HCMC bourse skyrocketed with 282 million shares worth VND13.4 trillion changing hands, up 25.8% and 58% from a session earlier respectively. The put-through market saw 94.3 million shares worth VND8.7 trillion traded, mostly VNM shares.

Many speculative stocks came under strong selling pressure, especially the stock of FLC and those of its associated firms. FLC remained the most liquid stock with over 38.5 million shares traded but fell 6.5% at VND6,020 a share.

Agricultural firm HAI and mining enterprise AMD plunged to the floor prices of VND7,420 and VND6,910 a share with volume of 4.7 million shares and VND2.2 million shares respectively. On the other hand, ROS, a construction enterprise, recovered after having shed 18% last week.

TCH, a financial investment company, was an advancer among speculative stocks, hitting the ceiling price of VND17,700 a share. Property firms HAR and QCG also managed to gain ground.

The Hanoi market extended its rising streak to the fourth straight session, sending the HNX-Index up 0.39% at 106.79 points. There were 50.2 million shares worth VND725 billion traded, jumping 32% and 54% respectively.

KLF, a trading and food service firm, took the lead by liquidity with volume of 16.2 million shares. The associated firm of FLC plunged to the floor price of VND3,400 per share.

Among the bank stocks, ACB dropped 0.6% at VND32,300 a share with 1.8 million shares transacted. SHB lost 1.27% at VND7,900 per share with volume of 3.9 million shares while NVB closed flat at VND7,000 per share.

Meanwhile, petroleum technical service firm PVS added 1.2% at VND17,000 a share with 3.5 million shares changing hands. Construction firm VCG was the second most actively traded stock with 8.4 million shares, climbing 8.3% at VND24,700 a share.

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