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Thursday, July 25, 2024

Strong cash flow pushes stocks up

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HCMC – As cash flow ran strongly into a host of stocks, trading in the local stock market ended on an upbeat note today, December 21, with the benchmark VN-Index of the Hochiminh Stock Exchange staying above the 1,080-point-level.

With 292 stocks rising and 138 others declining, the benchmark index gained 13.62 points, or 1.28% against last Friday at 1,081.08. Turnover on the southern bourse improved with volume and value rising 14.43% and 8.3% respectively at over 710 million shares and more than VND14 trillion. Shares traded in put-through deals contributed over VND1.2 trillion to the total value.

Bank stocks were cash magnets as MBB led the HCMC market by liquidity with 26.92 million shares changing hands. STB reported a matching volume of 25.78 million shares. TCB and ACB saw over 22 million shares transacted each.

However, in this banking group, VCB as a largecap closed unchanged, its fellows CTG, TCB, BID rose slightly by around 1%. Meanwhile, small caps staged impressive performance with EIB hitting its ceiling floor, VPB expanding 4.27% and HDB surging 5.27%.

Securities stocks continued to heat up with many of them hitting their upper limits such as SSI, VND, CTS, AGR, HBS, PSI. Especially, SSI was the most actively traded stock in this group with over 14 million shares traded.

Members in the Vingroup family also contributed to the main index’s growth as two bigcaps, property developer VIC and its housing affiliate VHM, improved by 1-2%, and retailer VRE saw nearly 10 million shares changing hands.

On the northern bourse, strong cash flow also drove the HNX-Index up 5.09 points, or 2.88% over the session earlier at 182.11, with 104 winners and 61 losers.

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