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VN-Index inches up slightly

Phuong Thao
Tuesday,  Mar 13,2018,23:33 (GMT+7)
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VN-Index inches up slightly

Phuong Thao

HCMC – Selling pressure accelerated as the VN-Index approached the resistance level of 1,130 points on March 12, but the index still managed a slight rises thanks to banking stocks.

With 126 rising stocks versus 169 falling ones, the main index added a slight 2.88 points, or 0.26%, at 1,126.29. The HCMC exchange saw 244.6 million shares worth VND7.4 trillion changing hands, up 12.2% and 7.2% against last Friday respectively.

Among bank stocks, EIB went up to ceiling price of VND15,200 a share on matching volume of nearly 1.5 million shares. STB and CTG remained volume leaders on the southern market with 17.2 million shares and 9.1 million shares traded, surging 3.5% and 3.2% at VND15,950 and VND33,450 a share respectively.

VPB ranked fourth for liquidity with volume of 7.5 million shares but the lender fell nearly 1.6% at VND62,900 per share. MBB, also among the most actively traded stocks with 6.6 million shares changing hands, increased 0.9% at VND33,800 a share.

Some large caps such as petroleum group GAS, consumer goods firm MSN and low-cost carrier VJC made positive contribution to the main index. In contrast, dairy firm VNM dropped a slight 0.9% at VND206,000 per share due to strong selling pressure.

For small stocks, IDI, an investment firm, reported a volume of 8.7 million shares and jumped 3.4% at VND15,100 per share. TNI, which operates in the steel sector, closed at near the upper limit of VND6,720 per share on matching volume of 2.2 million shares.

Banking stocks on the Hanoi bourse drove the HNX-Index up 1.48 points, or 1.16%, at 129.06. Trading volume advanced 21% against the previous session at 66.1 million shares while value improved 11% at VND1 trillion.

In the banking sector, ACB hit the intraday high of VND48,600 per share, up 3.8% versus last Friday, on volume of 4.9 million shares. SHB, the volume leader with 14.6 million shares traded, increased 2.4% at VND12,700 a share.

Notably, PIV plunged to the floor price before hitting the upper limit of VND5,900 and closing at VND5,600 per share, rising 3.7% versus the session earlier. The financial firm saw 3.2 million shares traded.

Foreigners shifted to the buying side on the southern bourse, net buying 10.1 million shares of real estate firm PDR worth VND374 billion. Overall, they net bought over VND670 billion.

Meanwhile, foreign investors net sold over VND1.7 billion on the northern bourse.

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