Shares end higher on the rise of bank, oil stocks

Wednesday, Feb 23, 2022 17:25

A PetroVietnam Gas worker operating equipment. The company shares gained 0.4 per cent Tuesday. — Photo

Shares finished higher on Wednesday thanks to the rise of large-caps in the banking and mining groups, bolstered by increased buying demand at the end of the trading session.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) gained 0.59 per cent to close at 1,512.30 points.

The index had lost 0.49 per cent to close Tuesday at 1,503.47 points.

The market's breadth turned positive with 111 stocks declining, while 326 rose.

More than 695 million shares were traded on the southern bourse, worth VND22.4 trillion (US$981.4 million).

The 30 biggest stocks tracking VN30-Index gained 0.42 per cent to 1,538.83 points. Twenty-one in the VN30 basket increased, while seven declined.

Real estate and construction stocks rebounded after dramatic drop in prices on Tuesday as a series of large-cap stocks recovered such as Tasco Joint Stock Company (HUT), LDG Investment JSC (LDG), both hitting ceiling prices. Licogi 14 JSC (L14), Development Investment Construction JSC (DIG), C.E.O Group JSC (CEO), Dat Xanh Group JSC (DXG), Ho Chi Minh City Infrastructure Investment JSC (CII) and DRH Holdings JSC (DRH) all increased by more than 3 per cent.

Banking stocks also gained strongly and supported the indices, with gainers including Asia Commercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), Military Bank (MBB), Sacombank (STB), Tien Phong Bank (TPB) and Military Bank (MBB).

Energy stocks also attracted cash flow with many gainers such as Viet Nam National Petroleum Group (PLX), PVPower (POW), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroVietnam Gas JSC (GAS).

Foreign investors net sold VND107.96 billion on HOSE, including Viet Nam National Petroleum Group (PLX) with VND63.26 trillion, Novaland (NVL) with VND36.05 billion and FPT Digital Retail Joint Stock Company (FRT) with VND31.92 trillion). Foreign investors were net buyers on HNX with a value of VND120.68 billion.

Meanwhile, the HNX-Index on the Ha Noi Stock Exchange (HNX) increased 1.87 per cent, to 442.54 points. The index had lost 1.49 per cent, to close Tuesday at 434.43 points.

During the trading session, investors poured VND3.2 trillion into the northern market, equivalent to a trading volume of 109 million shares. — VNS

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