Shares climb up, large-caps differentiate

Friday, Aug 28, 2020 05:55

Employees at an office of FPT Corporation (FPT). FPT rose 3 per cent on Thursday. — Photo the courtesy of FPT
Shares rose on Thursday on increasing liquidity but the market still witnessed a big variation in large-caps' prices.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.14 per cent to close Thursday at 874.71 points.

The index had lost 0.07 per cent to close Wednesday at 873.47 points.

Market liquidity increased slightly compared to the previous session with more than 325.7 million shares traded on the southern exchange, worth VND6.2 trillion (US$267.8 million).

Market breadth was positive with 241 gainers and 147 decliners.

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 0.27 per cent to close Thursday at 814.55 points.

In the VN30 basket, 16 of the 30 largest stocks by market capitalisation and trading liquidity increased. Eight lost ground and six were unchanged.

The market experienced strong volatility with big variation in large-caps’ prices.

Strong cash flow poured into large-caps such as FPT Corporation (FPT), increasing 3 per cent, National Petroleum Group (PLX), rising 2.7 per cent, Kido Group (KDC), increasing 2.3 per cent and Mobile World Group (MWG), gaining 2.8 per cent.

On the contrary, a series of pillar stocks lost ground and put pressure on the overall market such as Vinhomes (VHM), Coteccons Construction Joint Stock Company (CTD), Vietjet (VJC) and Sabeco (SAB).

On a sector basis, 20 out of 25 sector indices on the stock market gained ground, including real estate, banking, securities, information and technology, agriculture, food and beverage, construction, construction materials, seafood processing, rubber production, retail and wholesale.

The losers were energy, healthcare and insurance.

Thanh Cong Securities said in its daily report that in the next few sessions, the VN-Index will fluctuate before rebounding to the higher resistances at 880 - 900 points with the support from the large-cap stock group.

The company recommended that investors consider maintaining the holding rate in their portfolio at 50-60 per cent for medium and long-term goals, focusing on good fundamental stocks.

The HNX-Index on the Ha Noi Stock Exchange climbed 0.83 per cent to close Thursday at 124.92 points.

It had climbed 0.42 per cent to close Wednesday at 123.89 points.

Nearly 60 million shares were traded on the northern bourse, worth VND1 trillion. — VNS

Comments (0)