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Monday, July 22, 2024

VN-Index beats 1,500-point level

The Saigon Times

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HCMC – Strong gains of real estate stocks, mainly medium- and small-cap ones, sent the VN-Index of the Hochiminh Stock Exchange to a new high exceeding the 1,500-point level.

Closing the day, the benchmark index jumped 11.94 points, or 0.8%, at 1,500.81 points with winners outnumbering losers by 266 to 189.

There were over 1.1 billion shares worth nearly VND31.8 trillion changing hands. Block deals contributed VND2.6 trillion to the total value.

Bank stocks, after surging yesterday, moved inversely today. Among the 10 stocks that put the greatest pressure on the main index, six were bank stocks, including BID, HDB, TCB, ACB, CTG and MSB. Of which, HDB lost 3% at VND32,500 and BID dropped 1.5% at VND45,350.

However, two other stocks in the banking sector—VCB and VPB—contributed the most to the index’s rise with a weighted contribution of over three points to the index. Specifically, VCB gained 2.2% at VND107,100 and VPB added 1.9% at VND38,000.

In the VN30 basket, VPB took the lead in terms of liquidity with 32.4 million shares traded, followed by STB with 28.5 million shares and MBB with 20.69 million shares.

However, property developer FLC was the best performer on bourse with 35.3 million shares matched.

As for securities stocks, BSI surged 7% to its ceiling price, at VND49,750, while CTS soared 5.6% at VND47,500 and VCI gained 4.1% at VND80,600.

Steel stocks, after dreary sessions, were more positive today as HPG inched up 1.2% at VND479,250, HSG expanded 2.8% at VND39,000 and SMC rose 6.9% to close at its ceiling price, at VND45,750.

On the other hand, electricity firm TTA lost 5.5%, auto trader HAX declined 2.5% and wholesaler JVC slid 2.4%.

On the northern bourse, the HNX-Index extended its growth and closed at its intra-day high.

The index ended up 4.09 points, or 0.9%, at 459.67. More than 106.5 million shares valued at VND3.1 trillion were transacted.

The most remarkable stocks on the market were construction firms CEO and SD9, property firm PVL and manufacturer GKM as they hit their daily ceiling prices. In addition, securities firm SHS increased 4.3% and ART, another securities broker, gained 3.2%.

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