Tuesday, June 28 2016

VietNamNews

Blue chips fuel indices' gains

Update: July, 30/2014 - 08:20

The VN-Index added 2.79 points or as much as 0.47 per cent to stand at 592.24 points at the exchange of nearly 62.3 million shares, worth VND1.01 trillion (US$47.6 million).— Photo vietpress

HA NOI (VNS) — Gains from market pillars helped the VN-Index on the HCM City Stock Exchange rebound from Monday's loss.

The VN-Index added 2.79 points or as much as 0.47 per cent to stand at 592.24 points at the exchange of nearly 62.3 million shares, worth VND1.01 trillion (US$47.6 million).

The trading volume and value declined by 44 per cent and 41 per cent, respectively, over the previous trading session.

Trading was sluggish as buyers remained cautious after a share sell-off on Monday.

FPT Securities said that the VN-Index's gain yesterday was just a technical rebound, fuelled by stocks of large capitalisation but not buying demand.

The VN30-Index, tracking the performance of the southern city's largest stocks by capitalisation and liquidity, rose by 0.52 per cent to end at 633.58 points.

Property developer Vingroup (VIC) and diary giant Vinamilk (VNM) were among major market stimulators which added VND1,000 ($0.045) per share each after information that they will spend trillions of dong paying dividends in the next two months.

Other gainers included Masan Group (MSN) which rose by 1.6 per cent, Bao Viet Holdings (BVH) up 2.1 per cent, Da Nang Rubber Corporation (DRC), Kinh Do Corporation (KDC) and PetroVietnam Drilling Corporation (PVD).

Five codes in the VN30 package posted losses, including FPT Corporation (FPT) and Southern Rubber Corporation (CSM) while 11 others tread water.

Stock analysts said that due to the lack of supportive information, the uptrend of the VN-Index was uncertain because the pressure at 590 points was technically high.

On the Ha Noi Exchange, the HNX-Index rose 0.71 per cent to end at 78.28 points while the HNXFF-Index, composed of stocks with minimum free float rate of 5 per cent, added 0.68 per cent to 78.08 points.

The market liquidity declined over the previous trading session with a modest 31 million shares worth VND363 billion ($17 million) changing hands.

The HNX30-Index, tracking the capital city's top stocks, closed 0.96 per cent higher at 155.57 points. Foreign investors solidly injected money into the market during recent trading sessions. They purchased a net VND54.22 billion ($2.5 million) shares yesterday, up 31 per cent over the previous trading session. — VNS

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