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VietNamNews

Blue chips help boost indices

Update: August, 15/2012 - 09:31

 

Investors monitor trading online at the offices of Saigon Securities Inc. — VNS Photo Truong Vi
HA NOI — Shares rallied yesterday on both national stock exchanges, boosted by gains of blue chips.

On the HCM City Stock Exchange, the VN-Index gained another 0.77 per cent to finish the day at 429.47 points. The value of trades rocketed to more than VND1 trillion ($47.6 million), up 122 per cent from a day earlier, while the volume of trades rose 70 per cent to over 50.5 million shares.

The VN30 Index, representing the city's 30 leading shares by capitalisation and liquidity, also ended 0.86 per cent higher at 513.36 points, with 19 codes advancing, six declining and five closing flat. Dairy giant Vinamilk (VNM) hit the ceiling price of VND111,000 per share while insurer Bao Viet Holdings (BVH), Vietcombank (VCB), Sai Gon Securities Inc (SSI) and Military Bank (MBB) increased by 0.5-2.8 per cent.

MBB was also the most-active share with 22.5 million traded, worth a total of VND337 billion ($16 million), accounting for 48 per cent of total market value on the day. MBB climbed 2.8 per cent to conclude the session at VND14,700 per share.

"Blue-chips continued playing a role in an uninspiring period," FPT Securities Co analysts wrote in a report. "The rally of Vinamilk (VNM), Military Bank (MBB) and other blue chips eased downward concerns caused by yesterday's fuel price hike."

On the Ha Noi exchange, the HNX-Index also advanced by 0.51 per cent to 70.32 points on a modest turnover of VND297.3 billion ($14.2 million).

The HNX30 Index, tracking the northern bourse's top 30 shares, also edged up 0.44 per cent to 134.17 points, with Habubank (HBB) still the most-active code on trades of 5.3 million shares. HBB sank 1.92 per cent to end the day at VND5,100 a share.

In the context of a lack of supporting economic information, stock indices have tended to continue treading water and accumulate value only in the short term, the FPT Securities Co analysts wrote.

Foreign investors again concluded yesterday as net buyers on the HCM City exchange, picking up VND17 billion ($810,500) worth of shares, but they turned to being net sellers on the Ha Noi bourse, responsible for a net sell of VND227.8 million ($11,000) worth of shares. — VNS

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