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Monday, June 24, 2024

VN-Index regains growth momentum

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HCMC – The rise of some bluechips helped the VN-Index of the HCMC market bounce back and draw near to the level of 850 points after undergoing a slight correction on July 2, even though trading in the local market remained dreary on July 3.

While most of the bank stocks moved sideways, lender HDB soared as much as 5.3%, the highest increase in the VN30 basket, to VND26,000 with some 1.7 million shares traded.

As for brewery SAB, another outstanding winner, the planned divestment of a 36% State stake in the firm pushed SAB up at close with active trading. SAB expanded 4.9% to VND175,000 with over 0.2 million shares changing hands.

Besides this, other bluechips including dairy VNM, housing developer VHM, retailer VRE, and real estate company NVL rose around 1%.

Notably, construction firm Coteccons (CTD), which hit its ceiling prices in the two previous sessions, lost steam and added a slight 0.38% to close at its intraday low of VND79,000 due to increased selling pressure.

Many small and medium stocks including HQC and ITA turned losers. Both realty trading company HQC and steelmaker HSG led the southern market by liquidity with over 9.6 million shares transacted each. HSG rose 0.85% while HQC tanked 3%.

Closing, the benchmark index gained 5.23 points, or 0.62% from the session earlier to 847.61, with 197 winners and 167 losers. Over 203 million shares worth VND3.5 trillion were traded on the southern bourse, down over 9% in volume and 5.12% in value.

Regarding the HNX-Index of the Hanoi market, it dropped 0.06 point, or 0.05% to 111.55, with 81 stocks rising and 76 others declining.

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