Shares end the week on positive note

Friday, Sep 15, 2023 16:45

Facility of PetroVietnam Gas JSC (GAS). GAS rose 3.4 per cent on Friday. — Photo courtesy of PV Gas

The Vietnamese markets ended the week on a positive note, thanks to the injection of cash flow during the trading session, supporting indices.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 0.29 per cent, to close the day at 1,227.36 points.

The breadth of the market was in neutral territory, with 253 stocks up while 247 traded lower.

During the session, investors poured over VNĐ21.7 trillion (US$894.5 million) into the southern market, equivalent to a trading volume of nearly 917.4 billion shares.

The 30 biggest stocks tracker VN30-Index also closed higher at 1,238.81 points, up 0.38 per cent. Seventeen ticker symbols of the VN30 basket climbed, while 11 went down and two ended flat.

The VN-30 group performed positively and bolstered the market. In the basket, the biggest gainers were banking stocks, with gainers being Military Bank (MBB), Techcombank (TCB), Asia Commercial Bank (ACB), HDBank (HDB), Tiên Phong Bank (TPB), Sacombank (STB), Vietcombank (VCB), and BIDV (BID).

On the contrary, VietinBank (CTG) and Saigon-Hanoi Commercial JS Bank (SHB) suffered selling pressure, losing 1.4 per cent and 0.8 per cent, respectively.

Oil and gas group also recovered thanks to the buying force, such as PetroVietnam Gas JSC (GAS), PetroVietnam Technical Services Corporation (PVS), the PetroVietnam Drilling & Well Service Corporation (PVD) and Bình Sơn Refinery and Petrochemical Joint Stock Company (BSR).

“With supply still quite active, it is possible that the market will retreat and retest the support zone of 1,210 - 1,215 points. Currently, we can still expect the market to receive support from this area and recover in the 1,210 - 1,245 point area, which is also the previous distribution area,” said Việt Dragon Securities Co.

“Therefore, investors still need to observe supply and demand developments and reassess the market state. They should consider the possibility of taking profits or reducing the proportion of stocks that have increased rapidly to the resistance zone or are weakening from the resistance zone,” it said.

On the Hà Nội Stock Exchange (HNX), the HNX-Index closed the trading day at 252.76 points, up 0.36 per cent. — VNS

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