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Blue chip stocks lead national gains

Update: May, 29/2014 - 09:24

HA NOI (VNS)  — Shares continued their upward trend on both stock exchanges yesterday as blue chip rallies propped up the markets.

On the HCM City Stock Exchange, the VN-Index closed 0.83 per cent higher at 557.34 points yesterday, though gainers narrowly outnumbered the losers by 103-98. There were 100 shares that closed flat.

Blue chips were the main movers with 21 of the top 30 shares by market value and liquidity rising, lifting the VN30 up 1.49 per cent to end at 614.88 points.

Biggest gainers included Sacombank (STB) with a rise of 6.4 per cent; steelmaker Hoa Sen Group (HSG), up 2.9 per cent; Masan Group (MSN), up 2.7 per cent; and PV Gas (GAS), up 1.1 per cent.

Overall trading was sluggish, however, as the market volume decreased 15 per cent, totaling more than 108 million shares, worth VND1.55 trillion (US$73.5 million), down 10 per cent from the previous session's value.

Money poured into the top 30 shares which accounted for more than 50 per cent of total market value, reaching VND790 billion ($37.4 million).

Real estate FLC Group (FLC) remained the most active code with 13.8 million shares, climbing 1 per cent to close at VND11,200 a share.

On the Ha Noi Stock Exchange, the HNX-Index also added 0.43 per cent to end at 77.18 points, extending the rising streak to four days in a row.

Large-cap stocks on the northern bourse also gained as the HNX30 grew 0.73 per cent to stand at 156.21 points.

Both market volume and value declined 20 per cent from Tuesday, totaling 70.3 million, worth more than VND673 billion ($31.9 million).

PetroVietnam Construction Corp (PVX) was the most active with trades of nearly 10 million shares, dipping 1.85 per cent to close at VND5,300 a share.

Foreign investors continued to collect local shares as they again concluded yesterday as net buyers on both exchanges, picking up shares worth a combined VND36.25 billion ($1.7 million). — VNS

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