Heavy-weighted stocks bolster market amid anxiety

Thursday, Nov 05, 2020 07:20

Insurance-finance-banking group Bao Viet Holdings (BVH)'s head office in Ha Noi. BVH rose 1.15 per cent on Wednesday. — Photo courtesy of the group

Shares expanded growth on Wednesday thanks to the flourishing of heavy-weighted stocks, amid global anxiety as the world awaited definitive results from the US presidential election.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange increased 0.47 per cent to close at 939.76 points.

It had gained increased by 0.19 per cent to close Tuesday at 935.41 points.

Nearly 350.9 million shares were traded on the southern bourse, worth VND7 trillion (US$301.4 million).

Market breadth was positive with 119 decliners and 297 gainers.

The market is responding quite positively to President Trump's prevailing situation in the United States election, said BIDV Securities Co.

On the local market, cash flow continued to flow into the market, the liquidity increased strongly, the trading band widened and the market breadth was positive. All these factors show that the excited trading sentiment has returned, it said.

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, increased 0.37 per cent to close Wednesday at 905.48 points.

In the VN-30 basket, 19 stocks gained ground, six decreased and five remained flat.

Gainers in the group included insurer Bao Viet Holdings (BVH), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Vietnam National Petroleum Group (PLX), Vincom Retail (VRE), Phu Nhuan Jewelry (PNJ), Vietnam Electrical Equipment Joint Stock Corporation (GEX) .

Banking stocks also attracted cash flow and supported the market, such as Asia Commercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), Military Bank (MBB), VPBank (VPB), HDBank (HDB), Techcombank (TCB).

On a sector basis, 20 of 25 sector indices gained ground, including energy, banking, seafood processing, construction materials, logistics, plastics and chemical production, wholesale, insurance, securities, information and technology, food and beverage.

Meanwhile, retail, healthcare, real estate and construction were among the decliners.

Foreign investors net sold VND639.08 billion on HOSE, including Hoa Phat Group (HPG) with VN2D02.2 billion, Vincom Retail (VRE) with VND100.0 billion and Masan Group (MSN) with VND93.3 billion. They were net buyers on the HNX with the value of VND17.34 billion.

The minor HNX-Index on the Ha Noi Stock Exchange increased 1.05 per cent to end Wednesday at 140.03 points.

It had risen by 1.52 per cent to end Tuesday at 138.58 points.

Nearly 48.2 million shares were traded on the northern exchange, worth VND729.3 billion. — VNS

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