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Tuesday,  Apr 24,2018,00:27 (GMT+7)

BID sends VN-Index up

Phuong Thao
Friday,  Mar 16,2018,21:49 (GMT+7)
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BID sends VN-Index up

Phuong Thao

HCMC – High selling pressure sank the VN-Index for most of the trading time on March 15 before lender BID turned strong enough to send it back into positive territory.

The index closed the session almost flat, inching up a mere 0.06% versus the previous day at 1,138.76. Trading volume on the HCMC market fell 7.2% at 232.4 million shares while value dipped 6.4% at VND6.6 trillion, with block deals contributing VND748 billion to the total turnover.

Banking stocks again were market drivers. Amid heavy sell-offs in the afternoon, five out of eight banks listed on the southern exchange advanced.

BID made the biggest contribution to the index rebound, going up to the ceiling price of VND41,700 a share, followed by CTG with a 3% rise at VND36,600 per share. MBB rallied for the sixth straight session, adding 3.3% at VND35,950 per share.

Meanwhile, VCB and EIB closed at the reference prices and VPB lost 1.1% at VND63,800 a share. STB was the most actively traded stock with 12.4 million shares, closing up 0.6% at VND16,150 per share.

Among heavyweights, VNM, VIC and SAB put pressure on the main index. However, Vietnam’s top brewery firm SAB recovered somewhat after heavy loss early on, ending the day down 0.3% at VND214,000 a share on volume of 196,000 shares.

Its fellow brewery stock BHN also dipped 1.1% to VND137,000 a share. Meanwhile, dairy giant VNM fell 1.3% at VND210,200 and property firm VIC slid 1.9% at VND9,500 a share.

For the real estate sector, SCR was the volume leader with 13.7 million shares traded, followed by FLC with 8.8 million shares and HQC with 3.2 million shares. Notably, EVG broke its four-day rising streak and plunged to the floor price of VND5,960 per share.

HAG saw 8.2 million shares exchanged but its closed flat at VND7,410 a share. Meanwhile, its agricultural affiliate HNG gained 3.4% at VND9,100 per share on volume of 6.6 million shares.

The HNX-Index rallied for the sixth straight session, adding 0.66% at 131.29. Turnover on the Hanoi bourse was equivalent to Wednesday’s, with around 80.7 million shares worth VND1.2 trillion traded.

In the banking sector, NVB hit the upper limit of VND9,500 a share with its matching volume reaching a record high of 2.3 million shares. SHB led the market for liquidity with 26.6 million shares exchanged, rising 2.3% at VND13,300 per share while ACB increased 0.4% at VND49,400 per share.

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