Monday,  Dec 10, 2018,03:19 (GMT+7) 0 0
Blue chips send VN-Index up
By Phuong Thao
Tuesday,  Nov 20, 2018,18:34 (GMT+7)

Blue chips send VN-Index up

By Phuong Thao

HCMC – Sellers on the local stock market turned active after the strong rally on Monday, but a recovery of blue chips was able to keep the VN-Index of the Hochiminh Stock Exchange up for the third straight session today, November 20.

The main index added 2.96 points, or 0.32%, against the previous day at 919.02, although losers still slightly outnumbered gainers at 144 to 130. Turnover on the southern exchange improved with 159 million shares worth VND4.1 trillion changing hands, up 6% and 13.6%, respectively.

Property firm VHM led a rally among VN30 stocks, jumping around 1.9% at VND75,000. Its associated firm VIC lost steam in the afternoon but it still closed at the intraday high of VND97,200, up 0.8% from the session earlier.

Steel maker HPG was the most actively traded stock in the VN30 basket with matching volume of 5.7 million shares, rising 2.9% at VND36,500, followed by bank stocks CTG and VPB with 4.9 million shares and 4.7 million shares, respectively.

For small and medium stocks, plastic enterprise AAA went up to the ceiling price of VND14,800 thanks to high foreign demand and reported matching volume of 4.5 million shares. Meanwhile, financial group OGC led the market for liquidity with nearly 5.8 million shares exchanged, gaining nearly 2.4% at VND3,450.

The HNX-Index of the Hanoi Stock Exchange retreated after two sessions of gains, dipping a slight 0.04% at 103.91. Trading volume of the northern bourse improved 8% at over 31 million shares but value slid 8% at VND435.5 billion.

Petroleum technical service firm PVS was the biggest gainer for climbing 3.6% at VND20,000 on matching volume of nearly 7.6 million shares. However, it failed to save the HNX-Index as the top heavyweight ACB fell 0.3% at VND28,900.

Foreigners raised transaction as they changed hands nearly VND300 billion worth of shares of budget airline VJC via put-through. However, they remained on the selling side, overall.

On the HCMC market, foreigners net sold over 1.1 million shares valued at VND79.4 billion, down around 15.3% versus Monday. Meanwhile, the investors net sold VND6.2 billion worth of shares on the Hanoi exchange.

According to Bao Viet Securities Company, investor sentiment improved today, resulting in better turnover. However, some investors were still skeptical on the market outlook in the short term.

The VN-Index is expected to rise further in the next few days before meeting challenges at the nearest resistance zone from 930 to 935 points, it said.

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