Financial stocks boost markets

Tuesday, Dec 15, 2020 08:57

Financial-banking stocks spearheaded the market uptrend with gainers including SSI Securities Incorporation (SSI). SSI hit the daily limit rise of 7 per cent on Monday. Photo the courtesy of SSI
Shares had a good start on Monday, mainly driven by the growth of the banking and securities stock group.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) was up 0.73 per cent to close at 1,064.49 points.

That was its highest score since late April 2018.

The VN-Index has increased by a total of 13.8 per cent in the six trading weeks since October 29.

Nearly 584.5 million shares were traded on the southern exchange on Monday, worth VND12.6 trillion (US$546 million).

Market breadth was positive with 112 decliners and 343 gainers.

“The VN-Index increased positively from the beginning of the morning session to the end of the afternoon session and was now approaching the threshold of 1,065,” said BIDV Securities Co.

“Cash flow continued to increase as all sectors rallied. Meanwhile, foreign investors turned to be net sellers on the HSX but still net bought on the HNX.

“Market breadth was in a positive status and liquidity increased compared to the previous session. According to our assessment, the VN-Index will approach around 1,070 in the next trading days,” the company said.

Foreign investors net sold VND103.77 billion on HOSE. They were net buyers on the HNX with a value of VND3.17 billion.

The VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 1.55 per cent to end Monday at 1,024.28 points.

In the VN-30 basket, 28 stocks increased while one declined.

Heavyweight stocks attracted cash flow, such as Bao Viet Holdings (BVH), PetroVietnam Gas JSC (GAS), Hoa Phat Group (HPG), Vingroup (VIC), Vinamilk (VNM), Vietjet (VJC), Vietnam National Petroleum Group (PLX), Vincom Retail (VRE), Vinhomes (VHM) and Mobile World Group (MWG).

Financial-banking stocks spearheaded the market uptrend with gainers of SSI Securities Incorporation (SSI), VNDirect Securities Co (VND), Vietinbank (CTG), VPBank (VPB), Techcombank (TCB), Tien Phong Bank (TPB), HDBank (HDB), Military Bank (MBB), Asia Commercial Bank (ACB) and Bank for Investment and Development of Viet Nam (BID).

As many as 23 out of 25 sectors on the stock market gained ground, including real estate, information and technology, healthcare, energy, agriculture and food and beverage, rubber production wholesale, retail, insurance, banking, securities and logistics.

Their indices rose between 0.08 per cent and 5.9 per cent, according to

On the Ha Noi Stock Exchange, the HNX-Index rose 2.11 per cent to close Monday at 165.74 points.

Nearly 93.4 million shares were traded on the exchange, worth VND1.5 trillion. — VNS

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