Shares end higher on the back of blue-chips

Saturday, Dec 26, 2020 07:02

A store of Phu Nhuan Jewelry (PNJ) in HCM City. PNJ rose 1.04 per cent on Friday. — Photo courtesy of PNJ

Vietnamese shares advanced on Friday on the back of gains in numerous blue-chip stocks.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 1.58 per cent to end the trading session at 1,084.42 points.

The southern market index had lost 1.05 per cent to close Thursday at 1,067.52 points.

Market breadth on Friday was positive with 339 gainers and 120 decliners.

More than 652.8 million shares were traded on the southern bourse, worth VND12.9 trillion (US$557.6 million).

The large-cap tracker VN30-Index was up 1.76 per cent to 1,052.13 points.

Twenty-seven of the 30 large-cap stocks in the VN30 basket increased while two declined.

After Thursday's strong correction, VN-Index once again returned to the threshold of 1,080 points on Friday, said BIDV Securities Co.

“Investment cash flow was poured strongly into the market. Declining market liquidity, narrowing market amplitude and positive market breadth reflected the bottom-fishing trend of investors after yesterday's sharp correction.”

“Foreigners were net sellers on both HoSE and HNX. With the return to the threshold of 1,080 points, the VN-Index is likely to retest the 1,100 point level next week thanks to the stable internal cash flow,” the company said.

Foreign investors net sold VND230.64 billion on HOSE, including Hoa Phat Group (HPG) with VND216.6 billion, Kinh Bac Urban Development Joint Stock Co (KBC) with VND35.6 billion and Vinamilk (VNM) with VND29.5 billion. They were net sellers on the HNX with the value of VND13.79 billion.

Cash flow spread the market and lifted 22 out of 25 sector indices on the stock market, including logistics, wholesale, real estate, retail, IT, energy, securities, healthcare, seafood processing, construction materials, insurance, banking, food and beverage, rubber production and construction.

They gained between 0.7 and 6.3 per cent.

Securities stocks were among the best performers, attracting a huge cash flow with notable gainers of SSI Securities Incorporation (SSI), Viet Capital Securities Joint Stock Company (VCI), MB Securities Joint Stock Company, Saigon - Hanoi Securities JSC and VNDirect Securities (VND).

A series of blue-chip stocks such as Bao Viet Holdings (BVH), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Hoa Phat Group (HPG), The Refrigeration Electrical Engineering Corporation (REE), Vingroup (VIC), Vinamilk (VNM), Vincom Retail (VRE), Phu Nhuan Jewelry (PNJ), Mobile World Group (MWG), Vinhomes (VHM) all advanced and were the main driving forces of the market.

On the Ha Noi Stock Exchange, the HNX-Index rose 2.57 per cent to end Friday at 192.46 points.

The index had dived 1.38 per cent to close Thursday at 187.63 points.

Nearly 115 million shares were traded on the northern market, worth VND1.5 trillion. — VNS

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