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Tuesday, July 16, 2024

Local stocks maintain upward trend

The Saigon Times

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HCMC – Despite the selling pressure on bluechips increased toward the end of the session, the benchmark VN-Index still stood steady above the 1,350-point level today, September 17, thanks to the contribution of bank stocks.

With gainers outnumbering decliners by 280 to 126, the main index added 6.77 points, or 0.5% versus the previous session at 1,352.64. The southern market saw over 850 million shares worth over VND25.9 trillion changing hands, both up more than 42% in volume and value compared to the session earlier. Of the total value, shares traded in block deals accounted for some VND2.2 trillion.

In the VN30 basket, some stocks moved back to their intraday low, prompting the southern market to lose steam at the close. Insurer BVH shed 1.2%, consumer goods producer MSN fell 2.5%, property developer KDH slid 1.6%, andretailer VRE dipped 2.7%.

Meanwhile, bank stocks and some largecaps such as housing developer VHM, steelmaker HPG, and tech firm FPT staged an outstanding performance.

Among bank stocks, only VCB incurred losses, while the rest made gains. TPB stole the limelight as it soared 5.6% to its intraday high, with nearly 11.84 million shares transacted. Also, VPB, VIB, EIB, and MSB increased 2.1-3.2%.

Similarly, most of the securities stocks ended in positive territory, with HBS, IVS, PSI, and VIG closing at their upper limits.

In the group of property stocks, small and medium tickers including SCR, TCD, and HDG hit their ceiling prices. Of them, SCR closed up 6.9% and led the HCMC market by liquidity, with more than 27.5 million shares traded.

On the northern bourse, active cash flow buoyed up the rally of the HNX-Index, as it gained 5.25 points, or 1.49% against yesterday at 358.5.

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