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Tuesday, June 25, 2024

Bluechips help VN-Index rebound

The Saigon Times

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HCMC – Many bluechips performed well on the Hochiminh Stock Exchange, helping the VN-Index gain 0.83%, or 10.81 points, to close at 1,309.55 today, August 25, after three consecutive days of losses.

The number of advancers far outstripped that of losers by 228 to 134. The southern bourse saw 516.3 million shares worth over VND16.5 trillion changing hands, down 26.8% in volume and 28.4% in value against the day earlier. Block deals contributed VND1.6 trillion to the total value.

In the VN-30 basket, only three stocks — property firm VIC, housing developer VHM and lender CTG — lost ground. Electricity company POW was the biggest gainer in the basket as it shot up to its daily ceiling while brewery SAB, rubber group GVR and low-cost carrier VJC rose over 3% each.

Given the news that the biggest shareholder of consumer goods producer MSN registered to buy three million MSN shares to raise its stake to 31.55%, MSN surged 5.1% to VND135,000 per share, contributing 1.8 points to the VN-Index.

Among bank stocks, CTG was the only decliner, losing 1.03% at VND32,150 per share.

VIB, TPB and EIB were the best performing bank stocks, rising 3.2% to VND29,000, 2.5% to VND34,900 and 2.1% to VND24,600, respectively. Other bank stocks increased less than 1%.

The major contributors also included steel stocks, with NKG, TLH and SMC shooting up to their ceiling prices.

Besides, POM edged up 5.5% to VND16,400, HSG rose 2.9% to VND38,700 and HPG reversed course to close at VND48,400, up 1.4%.

Many securities stocks made gains, with SSI, VCI, HCM, CTS and AGR adding 1.2-2.9%.

Fertilizer stocks were the worst performing stocks. DPM, DCM and BFC fell 4.2% to VND33,900, 1.7% to VND23,200 and 3.9% to VND33,550, respectively.

In the group of speculative stocks, many stocks were in the red, such as HQC, ITA, ROS, HAI, HNG and TTF.

On the Hanoi Stock Exchange, the HNX-Index gained 1.27%, or 4.22 points, to close at 336.01 points, with winners outnumbering decliners by 128 to 86. There were 122 million shares worth some VND2.93 trillion traded, down 30% in volume and 34.7% in value from the previous session.

Bank stocks rebounded strongly. SHB, BAB and NVB were the biggest gainers, up 1.85% to VND27,500, 0.45% to VND22,100 and 3.2% to VND29,000, respectively.

Similarly, many securities stocks such as VND, MBS, BVS, BSI, SHS, EVS and ART advanced.

Other major contributors were stone processor VCS, industrial development firm IDC, plastic stock NTP and petroleum stock PVS, rising 1.8-4.03%.

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