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Tuesday, June 25, 2024

Local stocks end higher on strong cash flow

The Saigon Times

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HCMC – The benchmark VN-Index of the HCMC market accelerated toward the 1,500-point level and closed on an upbeat note today, October 29, backed by an upsurge in liquidity.

With 227 winners and 235 losers, the main index gained 6.25 points, or 0.44% against the previous session at 1,444.27. Trade on the southern bourse improved over 13% in volume and over 10% in value at more than 982 million shares traded and around VND28.8 trillion. Shares transacted in block deals contributed over VND1.6 trillion to the overall value.

Many of the stocks in the VN30 basket bounced back strongly in the afternoon phase. Among the good performers, housing developer VHM remained the major contributor to the main index’s rise as it closed at its intraday high of 5.6%.

Besides, many bank stocks made a strong rebound, with BID expanding 4.1%, ACB jumping 3.6%, and TPB improving 1%.

Meanwhile, brewery firm SAB encountered the steepest decline in the basket as it fell 2.5% to its intraday low at VND160,500. Also, other big-caps including steelmaker HPG, insurer BVH, lender VPB and tech firm FPT lost over 1%.

Construction and real estate stocks stole the limelight in the local market. Aside from VHM, some large-caps such as NVL, VRE and VIC all rose around 1%.

Further, a host of small and medium stocks, including HQC, PHC, TEG, HAR and DRH, hit their upper limits.

On the northern bourse, bluechips also drove up the HNX-Index. With 118 advancers and 97 decliners, the index added 1.05 points, or 0.2% over the session earlier to close at 412.12.

The HNX30 basket continued to support the Hanoi market, with its top five winners being construction and property stocks. Specifically, LHC surged 9.5%, DTD expanded 8.3%, and L14 inched up 5.6%. Besides, some other bluechips— VCS, NTP, PVS, PVB—rose slightly by around 1%, contributing to the HNX-Index’s gain.

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