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Oil and gas stocks lead to slight market gains

Update: June, 10/2016 - 11:41
Oil stocks lift market yesterday. — Photo

HÀ NỘI — Oil and gas stocks led a rise in both bourses yesterday. Positive investor confidence strengthened local stocks, Sài Gòn-Hà Nội Securities Corp (SHS) wrote in its daily report.

Ending the day, the HCM Stock Exchange (HoSE) recorded 128 advancers and 84 decliners, the VN-index gained 3.39 points or 0.54 per cent to reach 631.26 points while the Hà Nội Stock Exchange (HNX) with 127 advancers and 74 decliners, also rose 0.83 points or 0.99 per cent to close at 84.64 points.

Total trading volume of the two exchanges reached more than 182 million shares, worth over VNĐ2.8 trillion (US$125 million).

Oil and gas stocks of PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD), PetroVietnam Technical Services Corp (PVS) and PetroVietnam Coating Corp (PVB) rose about 2.5 per cent each.

Securities stocks of HCM City Securities Corporation (HCM), Sài Gòn Securities Inc (SSI) and Bảo Việt Securities Company (BVS) also saw gains of over 1 per cent each.

On the other hand, blue chips such as Vinamilk (VNM), Vingroup JSC (VIC), Hòa Phát Group (HPG), Hoa Sen Group (HSG) and Masan Group (MSN) experienced a disappointing trading session. Most of them closed at their reference prices or suffered losses.

Banking stock including the Sài Gòn Thương Tín Commercial Bank (STB), the Asia Commercial Bank (ACB), the Joint Stock Commercial Bank for Foreign Trade of Việt Nam (VCB) and Military Commercial Joint Stock Bank (MBB) also reported better results.

The highlight of the day was the rise of the stocks with small and medium capital. In particular, the information that An Dương Thảo Điền JSC (HAR) co-operated with the Frasers Centrepoint Limited Company on a $85 million project in District 2 in HCM City helped the HAR increase 5.17 per cent to close at VNĐ6,100 each. Yesterday, eight million shares in HAR were bought, leading the market in liquidity.

In addition, Hoàng Huy Investment Services Joint Stock Company (HHS) continued to gain another 6.5 per cent with 6.16 million shared matched, ranked the second in market liquidity.

On the northern bourse, PVB added 9.85 per cent, PVC increased 6.83 per cent and PVS got another 4.12 per cent.

On the exchange, An Phát Plastic & Green Environment JSC (AAA), even climbed 10 per cent to reach VNĐ27,500 each.

Strong foreign trading continued yesterday with net buying volume of VNĐ130 billion on HoSE and VNĐ7 billion on HNX. — VNS



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