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VN-Index inches up slightly

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HCMC – The VN-Index of the Hochiminh Stock Exchange plunged to its reference level before bouncing back slightly today, August 2, buoyed by strong demand.

With 209 rising stocks and 167 declining ones, the main index added a fractional 0.32%, or 4.17 points, to end at 1,314.22 points.

There were 614.53 million shares worth nearly VND19.8 trillion changing hands, falling 4.58% in volume and 9.04% in value against the session earlier. Block deals accounted for 27.77 million shares worth VND1.46 trillion.

Among bank stocks, STB, CTG, ACB and TCB fell, while BID and HDB advanced. Notably, BID added 3.53%.

Many blue-chip stocks also closed in the red, such as housing developer VHM, retailer VRE, steelmaker HPG and jewelry firm PNJ.

Brewery stock SAB, which has been added to the VN30 basket, reported the largest loss in the basket, at 2.5% to its intra-day low, at VND155,100.

On the contrary, some companies with impressive business performances last quarter and in the first half of the year reported a positive rise in their stock prices. For example, fuel distributor GAS rose 4.4% at VND93,500 and mobile phone retailer MWG picked up 3.5% at VND169,900.

The selling pressure hit not only blue-chip stocks but also small- and medium-cap stocks, such as FLC, HNG, FIT and ITA.

Meanwhile, shipping firms, such as HAH, STG and VOS hit their intra-day high.

As for liquidity, bank stocks stole the spotlight on the southern bourse. STB led the market with more than 26.5 million shares changing hands, followed by CTG with 25.1 million shares and TCB with over 14 million shares.

On the Hanoi Stock Exchange, the HNX-Index also edged up a slight 0.03% at 314.93 points. There were 102.57 million shares worth nearly VND2.4 trillion changing hands on the bourse.

Lender NVB rocketed 9.8% to its intra-day high, at VND24,700. Meanwhile, SHB extended its loss, dropping 1.8% at its lowest level of the day, at VND27,300 but it was the most actively traded stock on the northern bourse with 10.37 million shares transacted.

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