Shares climb on strong cash flow

Saturday, May 22, 2021 07:06

Transactions at Bank of Investment and Development of Vietnam (BID). BID hit the daily limit rise of 7 per cent on Friday. — VNA/VNS Photo

Vietnamese stock markets climbed on Friday as a series of large-caps stocks rallied thanks to a strong injection of cash into the stock market.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 0.45 per cent to close at 1,283.93 points.

It had gained 1.25 per cent to close Thursday at 1,278.22 points.

The market breadth Friday was positive as 162 stocks declined while 257 rose and 43 ended flat.

The market’s liquidity was high with over 699 million shares traded on the southern market, worth VND23.7 trillion (US$1.03 million).

The 30 biggest stocks tracker, VN30-Index, gained 0.01 per cent to reach 1,425.04 points on Friday.

Of the VN30 basket, 18 stocks increased while 11 decreased.

Shares nudged higher as investors poured cash into blue-chip stocks, said financial news site

Bank for Investment and Development of Viet Nam (BID) was the most notable gainer as it hit the daily limit rise of 7 per cent.

Viet Nam National Petroleum Group (PLX) gained more than 5 per cent, Phat Dat Real Estate (PDR) jumped by 4 per cent, Thanh Thanh Cong Bien Hoa JSC (SBT) advanced by more than 3 per cent.

Vincom Retail (VRE), Khang Dien House (KDH), Phu Nhuan Jewelry (PNJ) and PVPower (POW) were the stocks that gained more than 2 per cent.

In the opposite direction, Mobile World Group (MWG) dropped more than 3 per cent, Novaland (NVL) and Vietcombank (VCB) fell over 2 per cent. Sacombank (STB), FPT Corporation (FPT), Masan Group (MSN), Hoa Phat Group (HPG) and Vietinbank (CTG) all fell over 1 per cent.

On a sector basis, gainers included real estate, securities, healthcare, banking, plastic-chemical production, food and beverage, wholesale, construction, logistics, agriculture, seafood processing, insurance and energy.

Decliners included IT, retail, construction materials and rubber production.

Meanwhile, on the Ha Noi Stock Exchange (HNX), the HNX-Index gained 0.98 per cent to close Friday at 297.99 points.

It had lost 0.05 per cent to close Thursday at 295.10 points.

During the session, nearly 142.5 million shares were traded on HNX, worth VND2.3 trillion. — VNS

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