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Wednesday, June 26, 2024

VN-Index rebounds as bluechips fly high

The Saigon Times

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HCMC – Strong gain of many bluechips pushed the VN-Index of the Hochiminh Stock Exchange up 16.38 points today, November 23, ending its three-day losing streak.

At the close, the benchmark index gained 1.13% from the session earlier at 1,463.63 points, with 289 winners and 166 losers. Trade volume totaled over 880 million shares worth VND26.2 trillion, down over 30% in volume and 28% in value against the day earlier. Block deals contributed over VND2 trillion to the total value.

Among bluechips, rubber group GVR, consumer goods provider MSN and real estate developer NVL jumped by over 4%. Housing firm KDH, electricity company POW and lender TPB also staged a strong rise and became major drivers of the main index.

Securities firm SSI stole the limelight as the stock shot up to its ceiling price and took the lead by liquidity on the southern bourse with 37.4 million shares traded.

Many small and medium stocks, including DBC, PAN, IDI, MCG, NTL, TGG, TTF, VOS, SGT, SZC, TCD, DAG, HAX, HBC, TNA and LGL, reversed course to go up to their upper limits.

However, many bank stocks such as BID, HDB, CTG, VPB, MBB and STB lost steam, while electrical equipment firm GEX, property developer DLG and trade corporation HAP came under selling pressure and closed at their floor prices.

The Hanoi Stock Exchange had positive movements as the HNX-Index added 3.97 points, or 0.89%, from the session earlier, at 448.6.

Among large-cap stocks, trade and service company TTH and petroleum firm PVC finished the day at their ceiling prices.

Many securities firms such as SHS, ART, MBS and APS were among the best performers. SHS was the most actively traded stock on the northern bourse with a matching volume of 12.1 million shares.

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