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Heavyweight stocks lift VN-Index

Update: July, 22/2014 - 08:59
The VN-Index closed up 0.8 per cent at 601.04 points despite losers outnumbering gainers by 133-86. Other 64 stocks were flat. Blue chips were mixed.— Photo xaluan

HA NOI (VNS)  — Rallies of three major stocks, Vinamilk (VNM), PV Gas (GAS) and VinGroup (VIC), yesterday helped the benchmark VN-Index surpass a strong resistance landmark of 600 points on the HCM Stock Exchange.

The VN-Index closed up 0.8 per cent at 601.04 points despite losers outnumbering gainers by 133-86. Other 64 stocks were flat. Blue chips were mixed.

VNM rose 4.5 per cent; PetroVietnam Drilling & Well Services Corp (PVD) increased 2.8 per cent; GAS was up 1 per cent; and VIC up 0.71 per cent.

However, others such as Masan Group (MSN), Military bank (MBB) and Da Nang Rubber Co (DRC) declined from 0.7 to 4.4 per cent.

Shares of software giant FPT Corp (FPT) dropped 2.9 per cent to close at VND51,000 (US$2.42) per share yesterday, after it denied rumors of a take-over by Apple.

FPT shares hit the ceiling price on Friday, following reports that Apple intended to buy FPT to counter rival Samsung in Asia.

The VN30 tracking the top 30 shares by market value and liquidity inched down 0.03 per cent to end at 645.33 points.

Trading was more sluggish as both market volume and value fell 20 per cent from Friday's levels, totalling more than 111.5 million shares and fund certificates, worth VND1.989 trillion ($94.3 million).

Real estate FLC Group (FLC) was the most active stock yesterday with 13.3 million shares, closing flat at VND12,500 per share.

The southern stock exchange yesterday added one more stock with a debut of 77 million shares - the Southern Hydropower Company under the code of SHP.

On the Ha Noi Stock Exchange, the HNX-Index lost 0.36 per cent to end the day at 80.85 points as decliners outnumbered advancers by 118-49. Nearly half of total stocks were unchanged.

Profit taking pushed liquidity up. Market volume rose 30 per cent over the previous session to more than 58 million shares, while value of trades was up 25 per cent to nearly VND697 billion ($33 million).

PetroVietnam Construction Corp (PVX) was the most active stock on total trades of 6.5 million shares, diving 2.2 per cent to VND4,500 each.

Foreign investors concluded yesterday as net buyers on both markets, picking up combined shares worth total VND40.17 billion ($1.9 million). — VNS


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