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Monday, June 24, 2024

Bank stocks send VN-Index up

The Saigon Times

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HCMC – Bank stocks bounced back today, August 30, helping the VN-Index of the Hochiminh Stock Exchange gain nearly 15 points and beat the 1,320-point level.

Rising stocks far outnumbered losing ones by 334 to 63, while 34 others closed unchanged. The benchmark index added 14.94 points, or 1.14%, against the previous session at 1,328.14.

The southern market saw 676.38 million shares worth nearly VND21.4 trillion changing hands. More than 35.38 million shares worth some VND1.6 trillion were traded in block deals.

Up to 37 stocks reached their ceiling prices, nearly double the number of such stocks in the last session last week. These stocks mainly belonged to the healthcare, food, necessity production and real estate sectors.

In the VN30 basket, 26 stocks advanced but at a modest rate. Lender CTG made the biggest gain in the basket, at 3.69%. Three stocks fell, including brewer SAB and property enterprise VIC losing over 0.5% and consumer goods company MSN dropping 2.4% to its lowest level of the day, at VND132,600.

All bank stocks ended in the green today. Notably, LPB hit its ceiling price, while SSB added 1.8% to its highest level of the day.

These stocks also performed well by liquidity with 15.84 million MBB shares, 13.23 million CTG shares and over 12 million TCB shares changing hands.

Among securities and insurance stocks, only EVS and AIC were traded below their reference prices, while the rest inched up.

Steel stocks made gains as well. HPG and HSG reached their intra-day highs as HPG added 2.3% at VND48,700 and HSG rose 3.8% at VND39,700. They saw 17 million and 10.8 million shares transacted, respectively.

In the group of construction and real estate stocks, large-cap stocks, such as VIC, VHM, NVL and VRE, were hovering around their reference prices. Meanwhile, LCG and TTA shot up to their ceiling prices. Moreover, TCH, ASM, SCR, HBC, VGC and HT1 jumped over 3% each.

Pharmaceutical stocks remained the brightest spots of the market as more stocks reached their ceiling prices, such as DMC, DHG, TRA, OPC and SPM.

Property stock BCG maintained its high rise and closed at its new high of VND17,800.

On the Hanoi Stock Exchange, the selling pressure on some large-cap stock at the end of the session affected the HNX-Index.

The index expanded 0.74%, or 2.51 points, to close at 341.3 points, with 158 gainers and 48 decliners. There were 134.95 million shares worth over VND2.6 trillion changing hands.

Three bank stocks on the bourse split as SHB edged down 1.4%, while BAB and NVB rose some 1% each. SHB led the bourse by liquidity again, with 12.69 million shares traded.

As for pharmaceutical stocks, DP3, LDP and DBT surged to their ceiling prices. In addition, AMV soared 8.4% at VND12,900, and PPP and DHT picked up more than 4% each.

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