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Shares gain for third day


Shares gain for third day

An investor follows stock movement at Tân Việt Securities Inc (TVSI) in Hà Nội. — VNS Photo Đoàn Tùng

HÀ NỘI — Shares gained for a third consecutive day on Wednesday, driven mainly by strong growth in bank stocks and some individual blue-chip stocks.

The benchmark VN Index on the HCM Stock Exchange (HOSE) edged up 0. 四 二 per cent to close at  一. 一 三 八,0 九 points, for a three-day rise of  一. 三 per cent.

The uptrend was seen during the trading session but weakened late in the day. As a consequence, the market may slightly decline in the next session, according to Bảo Việt Securities Company (BVSC).

After surpassing the old peak of  一, 一 三0 points, the index is forecast to test the new high range, or resistance zone, of  一, 一 五0- 一, 一 五 五 points in the short term. In a positive scenario, the index could move towards a new record high of  一, 一 七0- 一, 一 八0 points in the short term, BVSC said.

The minor HNX Index on Hà Nội Stock Exchange (HNX) was up 0. 五 九 per cent to end at  一 三0. 四 三 points, expanding its three-day rally to  二. 二 二 per cent.

Shares gain for third day

More than  三 二 七. 四 五 million shares, worth VNĐ 八. 四 trillion, were traded on the two local bourses.

The market breadth was negative with  二 三 七 gaining shares,  二 二 五 declining ones and  二 七 二 stocks ending flat.

Shares gain for third day

The UPCOM Index on the Unlisted Public Company Market gained 0.0 六 per cent to stand at  六 一. 二 九 points, reversing from a decline of 0.0 九 per cent on Tuesday.

Foreign investors on Wednesday were net sellers of VNĐ 二 一 五. 八 一 billion on the HOSE, concentrated on VNM (VNĐ 一0 二. 九 七 billion), HDB (VNĐ 九 八. 五 三 billion) and DHG (VNĐ 六0. 九 billion). In addition, they sold a net of VNĐ 一 五. 六 五 billion on the HNX.

Banking shares led the market up with VIB being the strongest stock in this sector as it gained more than  九. 三 per cent.

HDBank (HDB) increased by  四 per cent. VPBank (VPB), which is another co妹妹ercial bank that has robust business in consumer finance, was up 0. 五 per cent.

Blue-chip stocks were in the neutral territory as  一 五 of the  三0 largest-cap stocks by market capitalisation rose.

Shares gain for third day

The rise of some large-cap stocks also drove the market up, including Việt Nam Dairy Products Joint Stock Company (VNM), gaining  一. 四 per cent; Bình Minh Plastics Joint Stock Company (BMP), up  四. 四 per cent; and Thành Thành Công - Biên Hòa Joint Stock Company (SBT), advancing  六. 三 per cent.

According to Việt Dragon Securities Co (VDSC), indexes kept moving up slightly on moderate volumes. The growth in the two indexes was not entirely convincing due to the lack of liquidity.

“Traders should not overly optimistic and wait for more sign,” VDSC said in its daily report.

Meanwhile, BVSC said in its report that the market is likely to turn cautious in the next two sessions, while investors are waiting for the two ETFs’ review this weekend.

“The market may keep moving sideways in wide divergence,” it added. — VNS


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