30 C
Ho Chi Minh City
Tuesday, July 16, 2024

VN-Index gains extend, backed by strong cash flow

The Saigon Times

Must read

HCMC – Buoyed by strong cash flow into multiple stocks, the VN-Index of the Hochiminh Stock Exchange (HoSE) added nearly 15 points today, October 28.

Closing the day, the benchmark index advanced 14.99 points, or 1.05%, from the session earlier, at 1,438.01, with 228 stocks winning and 192 others losing. Up to 23 stocks rose to their daily ceiling prices.

Trade totaled 865.42 million shares worth nearly VND26.2 trillion, down over 7% in volume and 8% in value from the previous session. Block deals contributed VND1.6 trillion to the total value.

Many blue-chip stocks extended their gains and the number of decliners fell, significantly supporting the market’s rise. Specifically, property developer NVL edged up 3.8% at VND107,800, with over 7.63 million shares changing hands.

Moreover, consumer goods MSN, housing firm KDH and brewery SAB rose 3.3%, 3.1% and 2.9%, respectively.

Among bank stocks, only BID dropped a slight 0.1%. Meanwhile, TPB picked up 2.5%, VCB increased 1.9%, VPB rose 1.7%, ACB and HDB inched up 1.4% each, and the remainder climbed less than 1% each.

Electricity firm POW led the southern bourse by liquidity with more than 28.3 million shares traded, followed by steelmaker HPG with over 21.9 million shares.

Meanwhile, most of securities stocks saw a smaller increase. For example, VND soared 5.2% at VND56,300, while BSI added 3.7% at VND34,700.

As for real estate and construction stocks, many of them attracted strong cash flow and closed at their daily ceiling prices, such as SGR, NBB, DLG and DRH.

Fertilizer stocks also rocketed, such as DPM by 5.6% and DCM by 5.7%. There were 8.43 million DPM shares and 8.11 million DCM shares transacted. In addition, SFG jumped 6.8% to hit its ceiling price of VND16,500.

On the contrary, real estate firm HQC closed down 3.7% at VND5,000 as it came under strong profit-taking pressure. It ranked second on the southern bourse by liquidity, after POW with 23.5 million shares matched.

The biggest decliners were mainly property stocks. For example, VRC tumbled 7% to its floor price of VND18,700, TGG lost 5.3% at VND24,150, C32 plunged 5.8% at VND35,900, and HPX plummeted 4.3% at VND33,100.

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

The index gained 6.7 points, or 1.66%, at 411.07 points. More than 161.2 million shares worth over VND3.9 trillion were transacted.

Among large-cap stocks, the best performers today were industrial development firm IDC and construction firm L14 as they surged 8.3% at VND74,500 and 9.1% at VND188,400.

In addition, LIG and S99, other construction companies, rose 8.3% and 7.9%, respectively.

More articles


Please enter your comment!
Please enter your name here

Latest articles