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Bank stocks drive VN-Index up

Phuong Thao
Friday,  Nov 24,2017,00:05 (GMT+7)
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Bank stocks drive VN-Index up

Phuong Thao

HCMC – Bank stocks drove up the market on November 22, with the VN-Index adding a massive 14.36 points, or 1.56%, from the session earlier at 932.66.

Given high cash flow, BID went up to its ceiling price of VND25,700 per share with over four million shares changing hands. CTG climbed 6.8% at VND22,650 a share with matching volume of 4.5 million shares.

Other bank stocks also such as VCB, VPB and STB advanced strongly on high turnover. MBB was the volume leader in the sector with 11.3 million shares traded, followed by STB with over seven million shares.

Turnover on the HCMC was equivalent to Tuesday’s session with more than 210 million shares worth VND6.4 trillion traded. There were around 28.7 million shares valued at VND1.7 trillion traded in block deals, including large transactions of dairy firm VNM and property enterprise NVL.

The VN30 basket had 25 stocks rising and four losing. VNM and property firm VIC eased off week-long rallies, with the first falling 2.17% against Tuesday at VND184,900 a share and the latter dropping 1.3% at VND77,000 a share. Their respective matching volume was 1.8 million shares and 1.6 million shares.

SAB, a leading beverage stock, continued reaching new highs after announcing to organize roadshows in Singapore and the UK to seek foreign investors. SAB jumped 5.3% at VND308,400 per share while its associated firm BHN shot up to the upper limit of VND132,600 a share.

Heavyweights on the Hanoi market drove the HNX-Index up to an intraday high of 109.29 points, soaring 1.17% versus the day earlier. There were 51.5 million shares worth VND716 billion transacted at the end of the day, including block deals worth VND43.4 billion.

Bank stock ACB was among the biggest gainers, gaining 3.4% at VND33,900 per share with matching volume of over 2.9 million shares. Meanwhile, construction stock VCG added nearly 2.4% at VND25,200 a share.

PVS added 5.3% at VND17,900 a share although foreign investors net sold nearly 776,000 shares of the oil and gas firm. It was the most actively traded stock on the northern market with over 9.9 million shares traded. 
Lender SHB ranked second by liquidity with 9.2 million shares but it closed at the reference price of VND8,100 per share.

Foreign investors net bought over VND15.1 billion of shares on the southern exchange and net sold VND17.7 billion on the northern bourse.

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