Saturday, October 22 2016


Blue chips hold up ailing market

Update: May, 15/2015 - 08:23

Market liquidity was low with 65 million shares traded, worth VND989 billion (US$45.8 million). — Photo bizlive

HA NOI (VNS) — Blue chips finally helped the market improve yesterday by struggling to hold up against stokes hitting floor prices.

On the HCM Stock Exchange, the VN-Index edged up 0.16 per cent to close at 543.69 points, with equal numbers of gainers and decliners, and 106 flat stocks.

Market liquidity was low with 65 million shares traded, worth VND989 billion (US$45.8 million).

Ocean Group JSC (OGC) and Thong Nhat Production and Investment JSC (GTN) were two declining stocks but traded more than 6 million shares each. OGC lost 6.45 per cent to hit floor price at VND3,100, and GTN fell by 5.36 per cent to stand at VND10,600.

Other stocks like Ninh Van Bay Travel Real Estate JSC (NVT), Sai Gon Water Infrastructure Corporation (SII) and Mobile World Investment Corporation (MWG) hit their floor prices as well.

The VN30 Index, which covers the 30 largest codes by market value and liquidity, slightly gained 0.11 per cent to end at 569.89 points.

The basket had a mixed performance with 11 gainers, 8 decliners and 11 remaining unchanged.

Blue chips were more stable in the afternoon than in the morning and did manage to help the market to make a stand against stocks that hit floor prices. However, eight decliners-including Vingroup Corporation (VIC), Bao Viet Holdings (BVH) and Refrigeration Electrical Engineering Corporation (REE) - prevented the market from ending higher.

Bank stocks improved during the session. Only Sacombank (STB) slightly dropped and Military Bank stayed flat. Other banks - the Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), Eximbank (EIB) and Vietcombank (VCB) - increased their values between 0.52 and 2.28 per cent.

Most large-cap gas stocks had no change in value. PetroVietnam Gas JSC (GAS), Petrovietnam Drilling & Well Service Corporation (PVD) and PetroVietnam Transportation Corporation (PVT) remained flat.

On the Ha Noi Stock Exchange, the HNX-Index went up 0.22 per cent to finish at 79.55 points. The northern market also had a mixed performance with 93 gainers and 106 losers.

The northern market recorded a lower trading volume of 33.7 million shares, however, the trading value improved to VND524.5 billion ($24.2 million).

The HNX30 Index increased by 0.41 per cent to close the day at 149.12 points. In this basket, gainers balanced decliners by 12 to 11 while seven others were unchanged.

On the northern bourse, large-cap codes of Drilling Mud Corporation (PVC), Petroleum Technical Services Corporation (PVS) and Asia Commercial Bank (ACB) held the market up with increases of 0.93, 0.81 and 1.21 per cent, respectively. — VNS

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