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Friday, June 14, 2024

Stock market bounces back

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HCMC – After making slight correction in the previous session, the benchmark VN-Index on the Hochiminh Stock Exchange managed to recover and nearly approach the 1,040-point level on December 9, thanks to the strong cash flow focusing on brokerage, bank, and fuel stocks.

With 288 stocks advancing and 157 others declining, the main index gained 9.87 points, or 0.96% over the session earlier at 1,039.13. More than 586 million shares worth over VND11.7 trillion were transacted on the southern bourse, both up 11% in volume and value against Tuesday, including some VND800 billion worth of shares traded in block deals.

Bank stocks were outstanding cash magnets. Lender ACB, a new member on the HCMC market, reported a matching volume exceeding 24 million shares, while its peers TCB, STB, MBB, and LPB ended in positive territory and saw 10-19 million shares changing hands each.

Especially, VCB, a large cap in the banking sector, surged an impressive 3.65% to its intraday high of VND96,500.

Securities stocks continued to maintain their upward trend as AGR, CTS, APS, BSI, CTS, HBS all hit upper limits, while SSI, HCM, BVS, APG rose over 3%.

Besides, other large caps including real estate firm VIC, housing developer VHM, dairy company VNM, and technology firm FPT extended.

Notably, high demand helped financial investment stock TCH reverse course to end higher and become the most actively traded stock on the HCMC market, with nearly 26.88 million shares traded.

Bucking the market trend, brewery SAB sank 2.7% to its intraday low of VND200,500 after making strong gains in the previous sessions.

As for the Hanoi market, the HNX-Index added 2.14 points, or 1.36% to 158.74, with 111 winners and 69 losers.

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