Sunday,  Sep 23, 2018,23:33 (GMT+7) 0 0
Late rebound of large caps keeps market buoyant
Phuong Thao
Wednesday,  Mar 21, 2018,19:42 (GMT+7)

Late rebound of large caps keeps market buoyant

Phuong Thao

HCMC – Stocks fell strongly on March 20 as the HCMC bourse came under profit taking pressure but a late rebound of some large caps kept the VN-Index slightly above the reference level.

With 113 stocks rising and 186 others losing, the index inched up a mere 0.01% versus the previous day at 1,159.39 points. Trading volume on the HCMC exchange slumped 21.3% at 214 million shares while value dropped 16.4% at VND6.3 trillion.

Among the top 10 stocks by capitalization, only three managed to increase. MSN, a consumer goods enterprise, surged 6.6% to an intraday high of VND100,500 per share while lender BID gained 1.9% at VND42,500 a share and brewery SAB rose 0.4% at VND226,000 per share.

Meanwhile, dairy firm VNM fell 1.4% to an intraday low of VND209,000 per share. Leading gas group GAS lost nearly 2% at VND126,000 a share and property giant VIC dipped 0.2% at VND104,200 a share.

For the banking sector, STB led the market by liquidity with 18.8 million shares traded, falling 0.3% at VND16,000 per share, while HDB was the biggest loser in the group, losing 2.6% at VND44,000 a share. Meanwhile, MBB added 1.4% at VND36,400 per share and VPB increased 3.1% at VND65,400 a share.

Property stock SCR was also the volume leader with 18.8 million shares changing hands, going up to the ceiling price of VND13,550. Real estate firm NVT also closed at its upper limit of VND5,780 per share with matching volume of 3.2 million shares.

Among the small stocks, investors scrambled to sell TSC as the HCMC exchange had given a warning against the agricultural firm. Closing the day, TSC plunged to the floor price of VND2,400 per share.

The HNX-Index rose strongly for a ninth consecutive session, jumping 0.88% at 135.28 points. However, turnover on the Hanoi market dipped as volume and value shed 36% and 48.5% against Monday at 60.5 million shares and nearly VND987 billion.

ACB again made the most positive contribution to the northern index despite strong selling pressure in the banking sector, closing up 2.9% at VND48,400 a share with volume of 4.5 million shares. Meanwhile, SHB, the volume leader with 15.6 million shares transacted, moved sideways at VND13,500 per share.

For other heavyweights, oil and gas firm PVS fell 2.3% at VND24,800 per share with 4.6 million shares traded. Meanwhile, property firm CEO went up to the upper limit of VND11,900 a share with 2.1 million shares changing hands.

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