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Wednesday, June 12, 2024

Small, medium stocks hit upper limits in upbeat market

The Saigon Times

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HCMC – The local stock market extended gains, rising by over 11 points buoyed by active cash flow today, November 8, despite the increased selling pressure. Notably, a host of small and medium stocks soared to their ceiling prices.

In the group of small and medium stocks, aside from HAG and HNG that continued to gain steam, members in the FLC family—ROS, AMD, and HAI—joined the list of outstanding performers in the afternoon phase, hitting their upper limits. Also, property group FLC led the HCMC market by liquidity, with 44.35 million shares changing hands.

As for the VN30 basket, 17 stocks advanced while 12 others declined. Of them, brokerage SSI was the biggest winner in the group, up 3.7%. Many other large-caps also extended rally, including consumer good producer MSN adding 2.8%, dairy firm VNM rising 1.8%, rubber group GVR, fuel distributor PLX, and low-cost carrier VJC each rising 1.5%.

Regarding the performance of stocks by sector, most of the securities stocks closed higher. Of them, CTS, VIX, PSI, and IVS reached their upper limits, while HCM expanded 4.5%, VCI and SHS rose around 1.5%, and VND surged 5.1%.

With the active cash flow, many bank stocks also ended on an upbeat note. MSB increased 2.24%, LDP and HDB inched up over 1%, their fellows such as VCB, BID, CTG, STB, TPB also rose over 0.5%.

STB and MSB were the most actively traded stocks in the group, with 22.64 million and nearly 21.4 million shares traded, respectively. Also, TCB, SHB, LPB, MBB, CTG each saw over 10 million shares transacted.

Meanwhile, steel stocks had yet to bounce back. Only HPG rose by less than 0.5%, while other stocks in this group such as HSG, TLH, NKG, POM, and SMC all made slight correction.

Overall, the benchmark VN-Index gained 11.06 points, or 0.76% against the previous session at 1,467.57, with 288 winners and 148 losers. Trading on the southern bourse made headway by over 20% in both volume and value at more than one billion shares worth over VND31 trillion. Shares transacted in block deals contributed over VND2.6 trillion to the total value.

On the northern bourse, stocks in the HNX30 were the major contributors to the HNX-Index’s gain. With 139 advancers and 79 decliners, the index rose 4.46 points, or 1.04% over the session earlier to 432.1.

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