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Tuesday, June 25, 2024

Stock market extends rally

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HCMC – While bank stocks experienced less active trading due to increased selling pressure, two largecaps VNM and VIC were the major contributors to the VN-Index’s stable growth today, September 21.

With 220 winners and 184 losers, the benchmark index of the Hochiminh Stock Exchange gained 6.99 points, or 0.78% against last Friday to close at 907.94. Trading on the southern bourse improved 11.5% in volume and nearly 16% in value over the session earlier at 403.44 million shares and over VND7.7 trillion. More than 54 million shares traded in put-through transactions contributed over VND1.4 trillion to the total value.

Many bank stocks prevented the main index from achieving a higher score. Some lenders such as VCB, STB, VPB managed to end in positive territory, while BID and CTG fell after encountering selling pressure.

However, lender HDB stole the limelight in the banking sector and took the lead in the VN30 basket, expanding 3.2%. Other bigcap stocks such as brewery SAB, housing developer VHM, and gas firm GAS rose slightly around 0.5%. Steelmaker HPG and tech giant FPT closed at their reference prices.

Notably, dairy firm VNM and property company VIC staged outstanding performance. VNM inched up 2.9% to its intraday high, closing at VND130,100, and VIC picked up 2.17 to its intraday high as well.

As for liquidity, STB was the most actively traded stock of the HCMC market, with matching volume of 17.85 million shares, followed by two steelmakers HSG and HPG.

Among the speculative stocks, furniture company TTF surged 6.9% to its ceiling price of VND5,120, the highest price recorded since October 2018. Similarly, development and construction investment firm TTA soared as much as 6.9% to its upper limit.

On the northern bourse, the active cash flow propped up the HNX-Index that improved 1.38 points, or 1.07% compared to the previous session at 130.58, with 71 advancers and 95 decliners.

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