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Tuesday, July 23, 2024

Stock market extends gains

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HCMC – Domestic stocks extended strong gains today, April 15, as investors continued picking blue chips that had slumped to new lows last month.

In March, the two local exchanges took a nosedive as global markets tumbled given impacts of the Covid-19 pandemic, with the VN-Index and the HNX-Index shedding 24.9% and 15.46%, respectively.

With the southern bourse having dropped to around 660 points, bottom fishers on the Hochiminh Stock Exchange turned active, sending the VN-Index up a hefty 17.31% during the first half of April. Except for a losing session on April 10, the HCMC market reported nine rising days in the fortnight.

Closing today’s session, the benchmark VN-Index gained 9.81 points, or 1.28%, at 777.22, as many blue-chip stocks in the VN30 basket reached their intraday highs. The southern market saw 302.6 million shares worth VND4.6 trillion changing hands, up 13.4% and 14% versus the day earlier, respectively.

Most bank stocks reported high liquidity, with STB soaring 5.9% at VND9,700 on matching volume of 14.8 million shares. MBB, another bank, rose 2.8% at VND16,350 with volume of 10.3 million shares.

Construction firm ROS again was the most actively traded stock with 16.3 million shares transacted, jumping nearly 4.2% against Tuesday at VND4,000.

On the Hanoi Stock Exchange, the HNX-Index surged 1.18 points, or 1.1%, at 108.33, led by heavyweights in the banking and property sectors. PVS, which is active in the oil and gas sector, was the only loser among pillar stocks, slumping 3.2% at VND11,800 on matching volume of 5.1 million shares.

Since early this month, the HNX-Index has jumped nearly 17%, reporting nine rising sessions versus one day with a fractional 0.01% decline on Tuesday.

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