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Tuesday, May 21, 2024

Local stocks fly high on strong cash flow

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HCMC – As strong cash flow was channeled into the local market, local stocks rose, sending the VN-Index of the Hochiminh Stock Exchange to its intra-day high today, August 3.

With advancing stocks outnumbering declining ones by 243 to 140, the benchmark index gained 18.22 points, or 1.39%, at 1,332.44 points.

Market turnover on the southern bourse improved over 5% in volume and 9% in value over the session earlier at more than 647 million shares and nearly VND21.5 trillion, including 29 million shares worth some VND1.3 trillion transacted in block deals.

Bank stocks overperformed on the market. They surged during the last 45 minutes of the afternoon session, though some of them, such as CTG, BID and ACB, plunged at the beginning of the session.

The VN-Index rise was also thanks to the increase of 26 stocks in the VN30 basket. In the basket, only two stocks dropped, while two others closed unchanged.

In addition, Vingroup’s stocks posted a positive growth given the news of its Covid-19 vaccine production plant. Specifically, VIC rocketed 6.5% at VND114,500, VRE rose 2.9% at VND28,300 and VHM picked up 2.6% at VND110,900. There were nearly 7.3 million VIC shares, 8.86 million VRE shares and 9.95 million VHM shares changing hands today.

Among blue-chip stocks, fuel distributors GAS and PLX slid over 0.5% each and steelmaker HPG and mobile phone retailer MWG closed at their reference prices. The remainder advanced.

Three stocks which have been added to the VN30 basket edged up slightly. Lender ACB inched up 0.7%, brewery stock SAB added 0.1% and rubber group GVR expanded 0.6%.

HPG led the bourse in terms of liquidity with 28.29 million shares traded, followed by lender STB with 26.53 million shares.

Some stocks shot up to their highest levels of the days, including CKG, HDG, TSC, DPG, DAH and VOS.

On the other hand, agricultural company HNG lost 4.4% at VND7,120 and saw nearly 15 million shares matched.

On the Hanoi Stock Exchange, securities stocks and lender NVB helped the HNX-Index close at its intra-day high.

The index added 4.2 points, or 1.33%, at 319.13 points. There were more than 113 million shares worth VND3 trillion traded on the northern bourse.

NVB was the most remarkable stock on the bourse as it soared 8.9% at VND26,900 and saw 7.28 million shares traded.

In addition, securities stock VND surged 8.5% at VND49,900 and it was the most actively traded stock on the northern bourse with more than 18.6 million shares matched.

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