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Local traders give indices boost

Update: August, 14/2014 - 09:12
On the HCM City Stock Exchange, the benchmark VN-Index inched 0.16 per cent to close yesterday's session at 602.76 points as the advancers doubled the losing stocks.— Photo vef

HA NOI  (VNS) — Although foreign investors increased offloads of shares yesterday, heavy buying of domestic investors helped lift stock indices on the two exchanges.

On the HCM City Stock Exchange, the benchmark VN-Index inched 0.16 per cent to close yesterday's session at 602.76 points as the advancers doubled the losing stocks.

Liquidity improved with the market value rising 30 per cent over the previous session, totaling VND1.84 trillion (US$87.2 million) while the market volume climbed 20 per cent to nearly 96 million shares and fund certificates.

Trading focused on blue chips with trading value accounting for more than 60 per cent of total market.

Companies which posted positive business results included Vietcombank (VCB) and HCM City Infrastructure Investment Co (CII), while those expecting growth from the Mid-Autumn festival, like confectionery maker Kinh Do Corporation (KDC), gained.

Twenty of the top 30 stocks with the highest market value and liquidity advanced while six declined, lifting the VN30 Index up 0.81 per cent to end at 645.17.

Slumping large-cap shares like Masan Group (MSN), PV Gas (GAS) and VinGroup (VIC) curbed market growth.

FLC Group (FLC) remained the most active stock with nearly 14 million shares changing hands, but the share price still managed to sink 2.84 to finish at VND13,700 per share.

Foreign investors were net sellers, responsible for a total net sell of more than VND202 billion ($9.6 million).

On the Ha Noi Stock Exchange, the HNX-Index rose to a four-month high of 81.82 points, up 1.68 per cent from Tuesday.

The HNX30, which tracks the top 30 shares by market value and liquidity on the exchange, also climbed 2.45 per cent to stand at 165.44 points.

Money flowed into oil companies like PetroVietnam Construction Corp (PVX), PetroVietnam Technical Services Corp (PVS), PetroVietnam Engineering Consultancy Co (PVE) and PetroVietnam Drilling Mud Co (PVC), rallying their share prices.

There were minor changes to trading volume from the previous session, totaling more than 66 million shares, but the value of trades fell 20 per cent to VND904 billion ($42.8 million).

In contrast to the southern bourse, foreign investors concluded as net buyers in Ha Noi, picking up shares worth VND29.5 billion ($1.4 million). — VNS


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