Shares bounce back on bargain hunting

Saturday, Sep 10, 2022 07:09

A production line of brewery company Sabeco (SAB) in HCM City's Cu Chi District. Photo

Vietnamese shares on Friday reclaimed ground lost in the previous day's sharp sell-off as large-caps were picked up by bargain-hunters.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 1.15 per cent to close at 1,248.78 points.

The index had lost 3.46 per cent in the last two trading sessions.

The market's breadth was positive with 281 gainers and 176 losers.

On HoSE, investors poured over VND13.8 trillion (US$586 million) into the market, equivalent to a trading volume of more than 586 million shares.

The VN30-Index, tracking the 30 biggest stocks on HoSE, gained 0.08 per cent, to close at 1,275.64 points.

Of the VN30 basket, 21 stocks rose to cushion the market, while four declined and the other five closed flat.

The rally continued on the Vietnamese stock market as purchasing power increased in the afternoon session to offset market-wide selling pressure in the previous session.

The uptrend of the indices continued to be consolidated as the buying demand was seen in a series of large stocks. In the VN-30 basket, the best performers were Masan Group (MSN), Vincom Retail (VRE), Hoa Phat Group (HPG), Vinhomes (VHM), Tien Phong Bank (TPB), Sabeco (SAB), SSI Securities Inc (SSI), Mobile World Group (MWG), PetroVietnam Gas JSC (GAS) and Bank for Investment and Development of Vietnam (BID).

A series of stocks in industry groups such as banking, securities, steel, oil and gas increased strongly, helping the VN-Index end the session at the highest level in the entire trading time.

The financial banking group outperformed and supported the gains of the market with notable gainers including Vietinbank (CTG), Techcombank (TCB), Tien Phong Bank (TPB), VPBank (VPB), Vietcombank (VCB), Sacombank (STB), Eximbank (EIB) and Bank for Investment and Development of Vietnam (BID).

Military Bank (MBB) was the only loser in the banking group.

The steel industry experienced a positive trading day with notable industry-representative stocks such as Hoa Phat Group (HPG), Hoa Sen Group (HSG) and Nam Kim Group (NKG) all climbing from 3 per cent to over 5 per cent.

Notable gainers in the securities group included SSI Securities Inc (SSI), VNDirect Securities Co (VND), Viet Capital Inc (VCI) and Saigon-Hanoi Securities Co (SHS).

On the Ha Noi Stock Exchange (HNX), the HNX-Index gained 0.88 per cent, to close Friday at 284.63 points.

It had declined 0.67 per cent, to close Thursday at 282.15 points. — VNS

Comments (0)