Thursday,  Sep 20, 2018,07:04 (GMT+7) 0 0
Large caps send VN-Index up
Phuong Thao
Tuesday,  Mar 27, 2018,23:02 (GMT+7)

Large caps send VN-Index up

Phuong Thao

HCMC – The local stock market made a sharp turnaround on March 26, crawing back all its losses in the previous session due to global uncertainties.

As many large caps increased in the afternoon phase, the VN-Index jumped 17.63 points, or 1.53%, at 1,171.22. However, turnover on the HCMC market kept shrinking due to investor caution, with volume and value shedding 19.2% and 4% at 211.7 million shares worth VND7.4 trillion.

Among key gainers, VIC, a leading firm in the property sector, went up to the ceiling price before closing with a 3.9% rise at VND113,800 a share. Lender VCB hit the intraday high of VND71,900 a share with 1.8 million shares changing hands.

Insurance firm BVH also hit the upper limit before closing up 6% at VND93,000 per share. Notably, having lost 6% in the morning, construction firm ROS recovered and jumped 5.1% at VND142,000 per share at the close.

Other bank stocks such as BID, CTG, MBB and HDB rose sharply. Meanwhile, STB, the second most actively traded stock with 10.9 million shares exchanged, fell 0.6% at VND15,650 per share.

EIB slumped 4.4% at VND14,100 per share as police in HCMC arrested two employees at a  branch of the lender and seized boxes of documents connected to an alleged fraud case that costs a VIP customer VND245 billion. EIB reported volume of nearly one million shares.

For the oil and gas sector, GAS lost nearly 1% at VND129,600 per share and PLX dipped 2.5% at VND83,000 a share. Notably, PVD plunged to the floor price of VND20,750 per share.

HPG led the market for liquidity with 11 million shares changing hands. However, the steelmaker declined 4% at VND58,900 per share as foreigners net sold nearly 3.7 million HPG shares.

Among medium stocks, NBB Investment Corporation (NBB) plunged to the floor price for the second straight session after its condo project in HCMC’s District 8 was engulfed in flames last Friday, with 13 persons killed and many others injured. APC, which is active in the agriculture sector, also fell to the floor price for the fifth consecutive session.

The HNX-Index also bounced back after a three-day losing streak, adding 1.36% at 133.67. There were 6.1.6 million shares worth VND1.1 trillion traded on the Hanoi market, down 30.7% and 25.8% versus last Friday respectively.

Investors also flocked to sell petroleum stocks on the northern bourse. PVS, the volume leader with 18.3 million shares traded, closed at the floor price of VND23,700 a share while PVC slid 5.2% at VND9,100 a share.

In contrast, lender ACB lifted the index for rising 2.8% at VND47,300 per share. CEO, a property firm, hit the upper limit of VND12,600 per share on volume of 3.5 million shares.

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