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Stocks rise across both bourses on CPI momentum

Update: September, 25/2013 - 08:27

On the HCM City Stock Exchange, stock advanced for the fourth consecutive day, bringing the market benchmark to a four-week high. The VN-Index shed 0.78 per cent to close the day at 482.82 points.— Photo vinacorp

HA NOI (VNS) — National stocks rose on both bourses yesterday after it was announced the consumer price index (CPI) in the bigger cities continued to climb.

On the HCM City Stock Exchange, stock advanced for the fourth consecutive day, bringing the market benchmark to a four-week high. The VN-Index shed 0.78 per cent to close the day at 482.82 points.

The market bounced back with strong liquidity as green overwhelmed the red on the electric board at the HCM City Stock Exchange. Market sentiment improved as investors realised that the recent decline was excessive, said an analysts of FPT Securities.

The total trading volume on the southern bourse reached 82 million shares worth more than VND1.24 trillion (US$60 million). Gainers overwhelmed losers by 139-70.

Among the 20 largest capitalisation stocks, VNM and GAS both increased by VND1,000 per share, VIC rose VND500 per share, BVH by VND900 - while VCB rose by a modest VND200.

The VN30-Index, tracking the southern bourse's 30 largest stocks in terms of capitalisation and liquidity, also gained 2.98 points to reach 543.23. Among its 30 members, 24 stocks advanced, three declined and three were unmoved.

Market volume rose 80 per cent from a day earlier to reach 82 million shares.

On the Ha Noi Stock Exchange, the HNX-Index rose 0.31 per cent, reaching 59.81 points, but liquidity did not change much.

The market was boosted by the return of cash flows after the market benchmark VN-Index hit a four-month low. The market normally rallies for quite a long time staging a prolonged losing run with improved liquidity.

The HNX 30 Index – which tracks the top 30 stocks calculated on free-float adjusted market capitalisation – added 0.45 point to end at 110.42 points. — VNS

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