Tuesday,  Sep 25, 2018,07:50 (GMT+7) 0 0
Bank stocks keep VN-Index afloat
Phuong Thao
Thursday,  Mar 1, 2018,18:58 (GMT+7)

Bank stocks keep VN-Index afloat

Phuong Thao

HCMC – Selling pressure continued rising on February 27 but banking stocks kept the market in the positive territory. The VN-Index rose for the third straight session, adding a slight 5.08 points, or 0.46%, from Monday at 1,119.61.

There were 196.6 million shares worth VND6.2 trillion exchanged on the HCMC market, both contracting by around 16% against the previous day. For the put-through market, steelmaker HPG saw 2.2 million shares traded with the total value of VND135 billion while investors changed hands one million shares of low-cost carrier VJC worth VND181.5 billion.

All bank stocks gained ground, in which CTG added 4.6% at VND32,100 a share and took the lead for liquidity with 18.4 million shares traded. STB reported volume of over 12.5 million shares, rising 0.6% at VND16,150 per share while HDB bounced back after three consecutive sessions of loss, advancing 1.1% at VND44,500 a share.

For the oil and gas sector, PVD increased 3.8% at VND22,000 per share on volume of 2.8 million shares and PVT jumped 6.5% at VND18,100 a share. PLX tumbled early on before rebounding and closing with a mild decline.

VND, a securities enterprise, went up to the ceiling price of VND26,000 a share on matching volume of 3.6 million shares. The brokerage firm chose on February 27 as the ex-dividend date to pay a 2016 dividend for shareholders and issue additional shares at VND10,000 each.

However, small and medium stocks still saw huge selling pressure amid weak demand. Property firms FLC, SCR and DXG closed in the red while VHG, a rubber enterprise, plunged to the floor price of VND1,030 per share with over 2.6 million shares exchanged.

Food firm GTN, meanwhile, rose a slight 0.5% at VND10,350 per share after an eight-session losing streak. Real estate firm QCG and ANV, the latter operating in the consumer goods sector, hit the ceiling prices on matching volume of two million shares and 1.3 million shares respectively.

On the Hanoi bourse, bank and petroleum stocks pushed the HNX-Index up to the intraday high of 127.29, rising 1.1 points, or 0.88%, versus Monday. However, market turnover tumbled due to investor caution, with volume and value shedding 29.6% and 37.6% at 59.1 million shares worth VND953 billion.

ACB was the top gainer as the bank jumped 2.4% at VND46,400 per share on volume of 4.1 million shares. SHB was the most actively traded stock with 16.6 million shares exchanged, rising 0.8% at VND13,100 per share.

In the oil and gas sector, PVS jumped 3.8% at VND24,400 a share with over seven million shares traded but PVX added 4.8% at VND2,200 per share. PVC was among rare losers, dipping 1% at VND9,800 a share.

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