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Large-cap stocks behind VN-Index rise

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HCMC –  Though the Hochiminh Stock Exchange came under strong sell-off pressure, the VN-Index was driven up by large-cap stocks to close at 881.65 points today, August 31.

With 159 stocks rising and 255 others falling, the main index added 2.67 points, or 0.3%, from the previous session. Trade volume totaled over 352.6 million shares worth VND6.3 trillion, down 11.5% in volume and 17.7% in value against the session earlier. Block deals contributed VND676 billion to the total value.

In the VN30 basket, 14 stocks gained ground while 16 others traded in negative territory, including gas firm GAS, lender VCB and housing developer VHM.

As one of the main supporters of the southern bourse, brewer SAB soared by 5.2% at the close, seeing 271,460 shares change hands.

Other contributors, including lenders BID and CTG, dairy firm VNM and low-cost carrier VJC, advanced by 1% to 2.4%.

Among the speculative stocks, furniture firm TTF hit the ceiling price and became the most actively traded stock on the southern exchange with a matching volume of 22.8 million shares.

Many small and medium stocks such as construction firm ROS, industrial zone developer ITA and property firm DXG lost steam.

On the Hanoi Stock Exchange, the HNX-Index dropped by 0.98 points, or 0.78, from the session earlier, at 124.85 due to the decline of many large caps.

Lender ACB finished the day down 0.9% while construction firm VCG, industrial firm VCS and bank stock SHB underperformed.

ACB took the lead on the northern bourse by liquidity with over seven million shares traded, followed by gas firm PVS.

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