Tuesday,  Sep 25, 2018,08:53 (GMT+7) 0 0
Market strongly bounces back
Phuong Thao
Wednesday,  Mar 7, 2018,23:22 (GMT+7)

Market strongly bounces back

Phuong Thao

HCMC – Stocks made a strong rebound on March 6 as investors stepped up share buying, pushing up the VN-Index of the Hochiminh Stock Exchange by a massive 26.81 points, or 2.45%, against the previous day at 1,120.29.

However, turnover on the HCMC bourse dipped sharply. There were 236 million shares worth VND7.1 trillion changing hands at the end of the day, down 14.9% and 26.6% respectively, with block deals reaching over VND1 trillion.

Most of the top gainers on March 6 were those that plunged to their floor prices on Monday. Among 48 stocks having matching volume of one million shares each, only four stocks closed in negative territory.

Lender BID went up to the upper limit of VND37,650 a share while retail group VRE also closed at the ceiling price of VND54,900 a share.

In the securities sector, SSI, VND and VDS hit their ceiling prices of VND37,800, VND26,350 and VND13,900 per share and reported volume of 7.6 million shares, 1.4 million shares and 520,000 shares respectively. Meanwhile, HCM jumped 4.8% at VND7,800 per share with matching volume of 585,000 shares.

Bank stocks also recovered, in which STB took the lead by liquidity with 12.6 million shares traded. CTG reported volume of over 8.6 million shares, adding 5.9% at VND32,300 per share while VCB climbed 4.7% at VND71,200 a share.

Speculative stocks increased strongly. Notably, property firm HAG and its agricultural affiliate HNG shot up to their upper limits of VND6,760 and VND6,970 a share with respective volume of 10.7 million shares and 2.6 million shares.

The HNX-Index surged 1.45% at 127.33 points while trading value on the Hanoi market slumped 20.5% at VND1 trillion. Top heavyweight ACB gave a nice boost to the northern index as the lender soared 4.3% at VND45,900 a share with 4.2 million shares traded.

SHB remained the volume leader with over 16 million shares traded, rising 0.8% at VND12,700 per share.

Among securities stocks, VIG hit the upper limit of VND3,100 per share while BVS closed unchanged and MBS tumbled 4.5% at VND15,000 a share. Notably, VE9, a construction enterprise, hit the ceiling price for the seventh straight session, standing at VND7,500 per share with volume of 1.2 million shares.

In the oil and gas sector, PVS increased 1.6% at VND25,000 per share while PVC closed at the reference price of VND9,600 per share. Meanwhile, PGS and PLC closed the session lower.

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