Shares eke out a gain on growth of energy stocks

July 20, 2022 - 06:59
Shares eked out a gain on the Hồ Chí Minh Stock Exchange on Tuesday thanks to strong growth of energy stocks but caution remains in face of selling pressure.
PV Gas' workers operating equipment at its facility. The company's shares led the market's bullish trend yesterday after gaining 4.5 per cent. VNA/VNS Photo Huy Hùng

HÀ NỘI — Shares eked out a gain on the Hồ Chí Minh Stock Exchange on Tuesday thanks to the strong growth of energy stocks but caution remains in the face of selling pressure.

The VN-Index edged up 0.16 per cent to close at 1,178.33 points after falling 0.23 per cent on Monday.

Liquidity remained sluggish with just 532.7 million shares worth VNĐ11.3 trillion (US$487 million) being traded, almost unchanged compared to Monday’s figures and 3 per cent lower than last week’s average trading volume and value.

The sharp increase in oil prices overnight helped push up prices of oil and gas stocks and the energy group as a whole.

Three of the top 10 shares lifting the VN-Index most were oil and gas shares. PV Gas (GAS) topped the list with a growth of 4.5 per cent. Petrolimex (PLX) and PV Power (POW) increased 4.6 per cent and 2.7 per cent, respectively. Bình Sơn Refining and Petrochemical (BSR) also gained 4.3 per cent.

Electricity shares also posted big gains with Halcom Vietnam (HID), PetroVietnam Nhơn Trạch 2 JSC (NT2) hitting the ceiling price of 7-per-cent growth. Vĩnh Sơn-Sông  Hinh Hydropower (VSH) and Vietnam Power Development (VPD) rose respectively 2.9 per cent and 5.3 per cent.

Other big gainers included Vingroup (VIC), up 1.2 per cent; Vinamilk (VNM), up 1.5 per cent; brewer Sabeco (SAB), up 1.7 per cent; and Sacombank (STB), up 1.8 per cent.

At the other end of spectrum, slump of Vietcombank (VCB), steelmaker Hòa Phát Group (HPG), Masan Group (MSN), Vietinbank (CTG), TienPhongBank (TPB), Vinhomes (VHM) and Mobile World Investment (MWG) dragged the market.

“Profit-taking pressure around the resistance zone of 1,180 points is still causing difficulties for the VN-Index's recovery,” said Phương Phạm, a market analyst at Viet Dragon Securities Co.

She said given the volatile market, the divergence also occurred in the industry groups with selling pressure continuing to hamper gaining momentum of real estate, securities and banking. Steel group dropped sharply after an explosive session.

On the Hà Nôi Stock Exchange, the HNX-Index inched down 0.07 per cent to end at 284.43 points.

Liquidity increased slightly here with 63.4 million shares worth VNĐ1.3 trillion being traded.

Foreign traders were net sellers on both exchanges, unloading shares worth a net sell value of VNĐ304 billion. Their sells focused on Hòa Phát Group with a net value of VNĐ72 billion, Vinhomes VNĐ38 billion, realty company Đất Xanh Group (DXG) VNĐ30 billion and Vietcombank VNĐ27 billion. — VNS