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Monday, June 17, 2024

Stock market makes sharp turn around

The Saigon Times

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HCMC – The benchmark VN-Index on the Hochiminh Stock Exchange returned to the resistance level of 1,270 points and closed at its intraday high today, July 20, after staging poor performance in the previous session.

With the number of advancers nearly tripling that of decliners at 281 to 94, the main index gained 29.78 points, or 2.39% over the session earlier at 1,273.29.

More than 568 million shares worth over VN17.8 trillion were transacted on the southern bourse, contracting 22% in volume and 18% in value against the previous session. Shares traded in put-through transactions accounted for some VND1.2 trillion of the overall value.

The VN30 basket saw 28 winners. Notably, brokerage SSI soared 6.9% to hit its ceiling price at VND52,700, reporting a matching volume of over 15.3 million shares.

Steelmaker HPG surged 6.8%, mobile phone retailer MWG improved 5.2%, and financial service provider TCH added 4.4%, in addition to other good performers such as insurer BVH, consumer food producer MSN, sugar producer SBT, and many lenders. The only two decliners in the basket were housing developer KDH and retailer VRE.

Steelmaker HPG was an actively traded stock with more than 40.9 million shares changing hands, followed by bank stocks such as STB with 23.88 million shares traded, CTB with 23.86 million shares transacted, and CTG with a matching volume of 20 million shares.

Further, many speculative stocks reached their upper limits including TTF, AGR, DRH, DPG, TGG, HHP, and KMR. Of them, property group FLC saw over 16 million shares changing hands.

Besides, stocks in the pharmaceutical and medical sector including VMD, JVC, VPS, DBT stayed at their ceiling prices at the close.

Regarding the Hanoi market, the HNX-Index also bounced back, adding 9.04 points, or 3.1% against the previous session to close at 301.11, with 137 winners and 66 losers.

Largecap stocks on the northern bourse extended rally, with lender SHB rising 5.9%, securities company SHS expanding 8.8%, securities corporation VND surging as much as 9.5%, and trade and investment company TNG inching up 8.5%.

Gas firm PVS reversed course to end higher by 1.3% and led the northern market by liquidity, with more than 12.89 million shares changing hands.

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