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Friday, September 29, 2023

Main index ends higher as heavyweights strongly recover

The Saigon Times

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HCMC – After experiencing losses for two consecutive sessions, the benchmark VN-Index of the HCMC market recovered today, December 7, gaining over 33 points, but the market liquidity fell to a record low since October 21.

The rebound of the main index was supported by the ten large-caps including three lenders VCB, CTG, TCB, gas firm GAS, steelmaker HPG, dairy firm VNM, and the three members of the Vingroup family—VHM, VIC and VRE.

With 396 winners and 67 losers, the VN-Index added 33.19 points, or 2.35% versus the previous session to close at 1,446.77. More than 755 million shares worth over VND21.6 trillion were transacted on the southern bourse, contracting 27% in volume and 30% in value compared to yesterday. Shares traded in put-through deals contributed over VND1.9 trillion to the overall trade.

Many members in the VN30 basket extended gains in the afternoon phase. Electricity firm POW maintained its ceiling price at VND14,850. Retailer VRE expanded 7%. Also, gas company GAS and housing developer KDH each rose over 4.5%. Similarly, HPG, BID, STB and PLX staged a good performance.

Regarding liquidity, POW reported a high matching volume of 29.7 million shares, followed by HPG with over 21.9 million shares, SSI with 15.8 million shares, VPB with 15.3 million shares.

Small and medium stocks also made further gains, with HAG, BKG, NHA, HBC, LCG and TNI all hitting their upper limits. Among them, farming group HAG was the most actively traded stock of the HCMC market, with 36.5 million shares traded. Other strong winners were FIT, NHH, KHP and KSB.

Fuel and steel stocks were the most impressive performers. Among fuel stocks, apart from two winners GAS and PLX, PVD surged 7% to its upper limit and PGC was the same, expanding 6.8% to close at its ceiling price of VND21,950. As for steel stocks, HPG improved 4%, and ASP finished up 5.4%.

On the northern bourse, the HNX-Index also ended at its intraday high, with many stocks hitting their upper limits such as IDC, AMV, TVC, HUT and VIG. With 174 advancers and 63 decliners, the HNX-Index rose by 2.42%, or gaining 10.56 points to stay at 446.41 points.

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