Market extends gains but liquidity falls strongly

Wednesday, Mar 16, 2022 12:14

The stock market inched higher on Wednesday morning, boosted by commodity and logistic stocks.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose by 3 points, or 0.21 per cent, to 1,455.74 points.

The market breadth was positive, with 246 stocks increasing, while liquidity fell sharply. Accordingly, the trading value on the southern market dropped by 21 per cent compared to yesterday morning.

Meanwhile, foreign investors net-sold around VND140 billion (US$6.1 million) on the HoSE.

The benchmark index's rally was driven by gains in some large-cap stocks, especially in commodity and logistic stocks.

The VN30-Index was up 0.16 points, or 0.01 per cent, to 1,469.05 points. In the VN30 basket, 13 stocks climbed while 15 declined, and two ended flat.

Commodity stocks in fertiliser sectors lifted market sentiment in the early session. Of which PetroVietnam Ca Mau Fertiliser (DCM) was up 1.87 per cent, Petrovietnam Fertiliser & Chemicals Corporation (DPM) up 2.25 per cent and Binh Dien Fertiliser JSC (VFC) up 2.27 per cent.

Logistic stocks also supported the index with good performance of Hai An Transport & Stevedoring JSC (HAH) up nearly 2 per cent, Viconship (VSC) up 1.59 per cent and Gemadept Corporation (GMD) up 1.34 per cent.

Bank and real estate stocks including Vietcombank (VCB), MBBank (MBB) and Becamex (BCM) also posted strong growth this morning, all up at least 1 per cent.

The HNX-Index on the Ha Noi Stock Exchange (HNX) also extended gains, up 3.11 points, or 0.7 per cent, to 446.63 points. VNS

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