Market inches higher, but selling force resumes

Monday, Aug 02, 2021 12:20

Shares continued to rise on Monday morning, but gains were capped by losses in some large-cap stocks.

On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index rose 0.58 per cent, or 7.59 points, to 1,317.64 points. The market breadth was positive as 197 stocks climbed while 174 declined.

The liquidity was low with nearly 342 million shares traded on the southern bourse, worth over VND11.1 trillion (US$483.1 million).

The index's rally was mainly supported by gains in pillar stocks. The VN30-Index, which tracks 30 biggest stocks in market capitalisation on HoSE, edged 0.41 per cent higher to 1,453.11 points.

Sixteen stocks of the VN30 basket jumped, while thirteen fell.

JSC Bank for Investment and Development of Vietnam (BIDV, BID) was the biggest gainer in market capitalisation in the morning trade, up 4.14 per cent.

It was followed by PetroVietnam Gas JSC (PVGas, GAS) and Vingroup JSC (VIC), up 3.68 per cent and 1.68 per cent respectively.

Other stocks with big gains were Novaland (NVL), Mobile World Investment Corporation (MWG) and Masan Group (MSN), all up 1.42 - 3.29 per cent.

The index pared gains as selling pressure weighed on some big stocks, especially in banking and material sectors. Of which, Vietcombank lost the most in market capitalisation, down 0.82 per cent.

On the Ha Noi Stock Exchange (HNX), the HNX-Index also inched 0.53 per cent higher to 316.53 points. VNS

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