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VN-Index reverses course

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HCMC – Following the strong gains of bank and securities stocks, coupled with high domestic demand, the VN-Index of the Hochiminh Stock Exchange closed higher at 914.68 points today, October 5.

With gainers outnumbering decliners by 304 to 120, the main index advanced 4.77 points, or 0.52%, from the session earlier, at the close. Trade volume totaled 456.1 million shares worth VND7.3 trillion, dropping by 13.5% in volume and rising by 15% in value, against the previous session. Block deals contributed VND848.5 billion to the total value.

In the VN30 basket, 17 stocks gained ground while nine others such as property firm VIC, dairy firm VNM and budget airline VJC experienced a slight fall.

The bank and securities stocks underpinned the main index, with lenders CTG, VPB and EIB improving by over 2%.

Bank stock STB staged a strong rally and was the most actively traded stock in the basket with over 22.6 million shares traded.

Some securities stocks, including VND and VDS, shot up to their ceiling prices, while other bluechips such as steelmaker HPG, consumer goods firm MSN and electricity firm POW also performed well.

Closing the session up 5.3%, property group FLC took the lead on the southern bourse by liquidity with 28.6 million shares changing hands.

On the Hanoi Stock Exchange, the HNX-Index extended its rising streak to the fourth consecutive session, ending the day up 2.28 points, or 1.69%, against the session earlier, at 137.19, buoyed by securities and bank stocks.

Lender ACB closed at the intraday high and led the northern market by liquidity with the matching volume of 12.8 million shares.

Many other bluechips such as petroleum stocks PVS and PVB, and industrial firm VCS were among contributors to the rise of the index.

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