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Thursday, July 25, 2024

Stocks rise on upbeat investor sentiment

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HCMC – The benchmark VN-Index of the HCMC market gained nearly 18 points and closed at its intraday high yesterday, March 1, thanks to active cash flow into bank, brokerage, fuel and steel stocks.

With the number of winners quadrupling that of losers at 358 to 85, the main index added 17.7 points, or 1,51% over the session earlier at 1,186.17. Turnover on the southern bourse improved by 16% in volume and 7.7% in value against last Friday at over 640 million shares and some VND16 trillion. Shares traded in block deals contributed more than VND1.4 trillion to the total value.

All of the bank stocks ended in positive territory, with LPB stealing the limelight in the market. LPB soared 6.8% to its upper limit and led the southern bourse by liquidity with 36.42 million shares transacted. Also, lender VIB hit its ceiling price.

The group of bank stocks also draw investors’ attention. For instance, STB improved 4.1% with 35.7 million shares changing hands and its fellow MBB inched up 2.5% with over 22 million shares traded. In addition, CTG and TCB saw 12-14 million shares transacted.

Aside from bank stocks, steel stocks such as NKG, POM, TLH, and VIS hit their upper limits. Steelmaker HSG expanded 5.7% and its fellow HPG rose 1.3%. Similarly, fuel stocks comprising GAS, PLX, PVD advanced by 1.4-4.3%.

Many other stocks in the sectors of sugar and sugarcane, real estate, construction, securities were winners, including LSS, SBT, LCG, SSI.

Regarding the Hanoi market, the HNX-Index improved 3.15 points, or 1.26% versus last Friday at 252.37, with 146 stocks rising and 61 others falling. Similar to the southern bourse, groups of bank, brokerage, fuel stocks on the northern bourse were good performers.

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