Shares extend gains on soaring securities stocks

Wednesday, Dec 23, 2020 07:01

An investor at MB Securities Co (MBS). MBS rose 4.6 per cent on Tuesday. — Photo

Shares extended gains on Tuesday thanks to a huge cash flow injected in the securities stock group which stirred up the stock market with non-stop rises.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.22 per cent to end the trading session at 1,083.45 points.

It had gained 1.28 per cent to end Monday's trading session at 1,081.08 points.

Market breadth on Tuesday was positive with 269 gainers and 167 decliners.

More than 756 million shares were traded on the southern bourse, worth VND14.6 trillion (US$634 million).

The large-cap tracker VN30-Index was up 0.24 per cent to 1,052.23 points.

Fifteen of the 30 large-cap stocks in the VN30 basket increased while 14 gained.

“The uptrend somewhat slowed down when the VN-Index passed 1,080 points after a series of strong rally sessions,” said BIDV Securities Co.

“Increased market liquidity, narrowed market amplitude and positive market breadth was hinting that investment cash flow was moving into small-cap and mid-cap stocks instead of large-cap stocks and blue-chip stocks.

“VN-Index is expected to maintain the movement in the region from 1,080 to 1,100 points in the coming sessions,” the company said.

Foreign investors net sold VND83.91 billion on HOSE, including Hoa Phat Group (HPG) with VND106.9 billion, Vinamilk (VNM) with VND46.3 billion and Vincom Retail (VRE) with VND34.2 billion. They were net buyers on the HNX with the value of VND1.39 billion.

Cash flow spread the market and lifted up eighteen out of 25 sector indices on the stock market, including logistics, wholesale, real estate, retail, IT, energy, securities, healthcare, seafood processing and construction materials.

They gained between 0.2 and 3 per cent.

On the opposite side, losers were insurance, banking, food and beverage, rubber production and construction.

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).

On the Ha Noi Stock Exchange, the HNX-Index rose 3.15 per cent to end Tuesday at 187.85 points.

It had risen 2.88 per cent to end Monday at 182.11 points.

More than 72 million shares were traded on the northern market, worth VND998 billion. — VNS

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