Saturday, October 22 2016


Focus on mid-cap shares lifts market

Update: June, 05/2015 - 09:23
Blue chips continued to prop up the market although bank stocks extended losses on profit taking. — Photo

HA NOI (VNS) — Growth weakened towards the end of yesterday's session but liquidity climbed as traders focused money on mid-cap shares.

On the HCM City Stock Exchange, the VN-Index inched up 0.19 per cent to close at 568.99 points while the VN30 which tracks the top 30 shares by market value and liquidity rose by a more substantial 0.32 per cent to end at 587.48 points.

Blue chips continued to prop up the market although bank stocks extended losses on profit taking.

Lenders like Vietinbank (CTG) and Sacombank (STB) lost ground but other large-cap stocks like VinGroup (VIC), Vinamilk (VNM), Bao Viet Holdings (BVH), and Hoang Anh Gia Lai Co (HAG), apart from FPT Corp (FPT), Hoa Phat Group (HPG) and Gemadept (GMD) increased strongly.

"Investor confidence was heightened as cash flows continued to be channelled into the equity market," analysts at FPT Securities Co wrote on their website yesterday.

Almost 114 million shares worth VND1.95 trillion (nearly US$90 million) were traded by the end of the session. Investments focussed on mid caps, pushing 30 stocks of this group up at the ceiling price while other 120 shares saw growth of over 2 per cent.

HCM City Infrastructure Investment Co (CII) continued to top the market's trade with 10.6 million shares changing hands. Its price soared 5.26 per cent to settle at VND22,000 ($1.01) a share.

On the Ha Noi Stock Exchange, the HNX-Index sustained growth of over 1.1 per cent, concluding the session at 84.89 points.

The market condition was positive as the gainers outnumbered the losers by 113-86 and 162 ended flat. 21 stocks hit the ceiling while nearly 20 codes saw trades of over 1 million shares.

The trading volume increased 10 per cent over Wednesday to reach 65.5 million shares but value of trades was slightly lower at VND771 billion ($35.5 million).

Sai Gon Thuong Tin Real Estate Co (SCR) was the most active code in Ha Noi yesterday with 7.6 million shares traded, surging 8.7 per cent to close at VND7,500 a share.

Foreigners remained net sellers in the HCM City's market, offloading shares worth VND25.7 billion ($1.2 million), but they continued to buy in the Ha Noi's market, responsible for a net buy of nearly VND28 billion ($1.3 million). — VNS

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