Shares climb on the growth of banking and real estate

Tuesday, Nov 02, 2021 06:05

A bank teller consults a customer at Sacombank (STB). STB gained 0.2 per cent Tuesday. — Photo courtesy of the bank

Shares gained on Tuesday thanks to the growth of blue-chips in the banking group and mid-cap and small-cap stocks in the real estate group.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 0.94 per cent to close at 1,452.46 points. The index had dropped 0.37 per cent to end Monday at 1,438.97 points.

The market's breadth turned positive with 151 stocks declining, while 302 rose.

Liquidity remained high with more than 1 billion shares traded on the southern bourse, worth VND28.9 trillion (US$1.3 billion).

The 30 biggest stocks tracking VN30-Index gained 0.30 per cent to 1,521.35 points. Nineteen in the VN30 basket increased, while six declined and five ended unchanged.

In the VN-30 basket, gainers included The Viet Nam Rubber Group (GVR), Eximbank (EIB), Vinhomes (VHM), Sabeco (SAB) and Investment and Industrial Development Corporation (BCM).

The index's rise was also supported by gains in some pillar stocks in the banking group, including Sai Gon Thuong Tin Commercial Joint Stock Bank (STB), Sai Gon-Ha Noi Bank (SHB), Asia Commercial Bank (ACB), Military Bank (MBB) and Vietinbank (CTG).

In the real estate group, many mid-cap and small-cap stocks hit the daily limit rise of 7 per cent, such as Nam Long Group (NLG), Sai Gon Thuong Tin Real Estate JSC (SCR), Danh Khoi Group JSC (NRC), Industrial Urban Development JSC No 2 (D2D), Saigon Reai Estate Joint Stock Company (SGR) and LDG Investment JSC (LDG).

“Although at the end of the morning session, the VN-Index corrected slightly due to profit-taking pressure, but then thanks to overwhelming buying, VN-Index moved to close at a new peak of 1,452.46,” said BIDV Securities Co.

“Market breadth tilted to the positive side as the number of advancers doubled the number of losers, showing that cash flow was concentrated in certain stocks,” it said.

“In the upcoming sessions, VN-Index is likely to maintain its uptrend and move to new highs. Regarding the transactions of foreign investors, today they continued to net sell more than VND1 trillion on HoSE,” it said.

Foreign investors net sold VND1.1 trillion on HOSE, including Novaland (NVL) with VND567.24 billion, Nam Long Group (NLG) with VND141.02 billion and SSI Securities Co (SSI) with VND91.29 billion. They were net sellers on HNX with a value of VND23.92 billion.

Meanwhile, the HNX-Index on the Ha Noi Stock Exchange (HNX) rose 2.06 per cent, to 424.11 points. The index had risen 0.83 per cent to end Monday at 415.54 points.

During the trading session, investors poured VND4.3 trillion into the northern market, equivalent to a trading volume of 178 million shares. — VNS

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