Shares recover on strong buying force

February 09, 2023 - 05:17
Shares recovered on Wednesday thanks to strong buying force, bolstering many large-caps to grow.
A facility of PetroVietnam Gas Joint Stock Corporation (PV GAS). GAS gained 0.94 per cent yesterday. — VNA/VNS Photo

HÀ NỘI Shares recovered on Wednesday thanks to strong buying force, bolstering many large-caps.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 0.6 per cent to close the day at 1,072.22 points. The southern bourse’s index decreased 2.15 per cent on Tuesday.

Some 569.3 million shares were traded on the southern bourse, worth VNĐ10 trillion (US$423.7 million).

Market breadth was positive with 210 gainers and 188 losers.

According to Lê Đức Khánh, Director of Analysis - Director of Investment Capacity Development, VPS Securities Joint Stock Company, for the stock market, the most difficult period has passed when the VN-Index fell deeply from the peak.

However, in the current context, when interest rates are high, cash flow in the stock market is unlikely to return to the peak like in the 2020-2021 period. Accordingly, during this period and in the first half of 2023, the market is accumulating, causing small fluctuations.

The VN-30 Index, tracking the 30 biggest stocks on HoSE, rose 0.36 per cent to close at 1,073.38 points.

In the VN-30 basket, the biggest gainers included Hoà Phát Group (HPG), Bảo Việt Holdings (BVH), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), SSI Securities Inc (SSI), HD Bank (HDB), and Viet Nam International Commercial JS Bank (VIB).

Masan Group (MSN), Vietjet (VJC), Mobile World Group (MWG), Vinhomes (VHM) were among the losers.

In the banking group, most of the stocks moved up with gainers including Military Bank (MBB), Vietcombank (VCB), Saigon-Hanoi Commercial JS Bank (SHB), Tiên Phong Bank (TPB), Bank for Investment and Development of Việt Nam (BID), VietinBank (CTG) and Techcombank (TCB).

Energy stocks also performed positively with gainers such as PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD) and Drilling Mud Joint Stock Corporation (PVC).

On the Hà Nội Stock Exchange, the HNX-Index gained 0.30 per cent to close at 210.62 points.

Trading value on the northern exchange reached VNĐ865 billion, with a trading volume of 61.5 million shares. VNS