Oil and mid-caps stocks lift market

Tuesday, Jun 07, 2016 12:43

Oil stocks and mid-caps stocks help the market with a light gain this morning. — Photo vietstock.vn

HA NOI (Biz Hub) — Oil and mid-caps stocks helped the market make small gains this morning.

Oil and gas stocks, such as PVC, PVB, PVS and PGS, were the gainers thanks to the higher oil prices in the global market.

Vietcombank (VCB), Hoa Sen Group (HSG) and Hoa Phat Group (HPG) also increased slightly. HPG, following the news of zero per cent tax in the US market on its steel products, gained more than 1 per cent.

The contributors to the session also included mid-caps stocks Truong Thanh Furniture Corporation (TTF), Vinh Hoan Corporation (VHC), Danang Rubber Joint Stock Company (DRC), The Southern Rubber Industry JSC (CSM) and Mobile World Investment Corporation (MWG)

Among them, VHC gained nearly 4 per cent and MWG increased more than 3 per cent.

In the morning session, cash flow, however, declined with the transaction of 77 million shares worth VND1 trillion (US$44.7 million). Blue chips VNM and FPT recorded no transaction this morning.

The cash flow from foreign investors was also weaker at VND53 billion. Net buying was still continuing in stocks of the Military Commercial Joint Stock Bank (MBB), HPG and the Hoang Huy Investment Services Joint Stock Company (HHS).

At the end of the morning session, the VNIndex rose 3.26 points, or 0.36 per cent, to close at 622.31 points on the southern bourse, while the HNX-Index gained 0.15 points, or 0.18 per cent, to end at 82.81 points on the northern bourse. — VNS

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