Shares gain on banking and steel stocks

Wednesday, Feb 09, 2022 07:24

Inside a factory of steelmaker Hoa Phat Group (HPG). HPG rose 5.8 per cent on Tuesday. — Photo courtesy of HPG

Vietnamese shares rose on Tuesday, bolstered by market heavyweights as demand force increased significantly towards the closing minutes of trading, especially in the steel and banking groups.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) increased 0.22 per cent, to finish the trading day at 1,500.99 points.

The index had climbed 18.7 points, or 1.26 per cent, ending Monday at 1,497.66 points.

The market breadth was negative as 169 stocks declined while 282 rose and 52 ended flat.

The market’s liquidity was lower than the previous session with nearly 735 million shares traded on the southern market, worth VND22.6 trillion (US$995 million).

The steel stock group attracted cash flow and increased sharply, with giant steelmaker Hoa Phat Group (HPG) soaring 5.8 per cent, thereby contributing nearly 3 points to the increase of the VN-Index. Hoa Sen Group (HSG), Nam Kim Group (NKG), Pomina Steel Corporation (POM) and Tien Len Steel Group Joint Stock Company (TLH) all hit the ceiling prices.

Banking stocks also performed positively, such as Orient Commercial Bank (OCB), Asia Commercial Bank (ACB), Vietinbank (CTG), Vpbank (VPB), Techcombank (TCB), HDBank (HDB) and Sacombank (STB). But there were still some losers in the group like Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID) and Eximbank (EIB)

The securities group recorded strong divergence. Viet Nam Bank For Industry & Trade Securities JSC (CTS), Bank for Investment & Development of Vietnam Securities Company (BSI), Bank for Investment & Development of Vietnam Securities Company (EVS), Saigon-Hanoi Securities Co (SHS), FPT Securities JSC (FTS) and Thanh Cong Securities Company (TCI) all ended up gaining. In contrast, VNDirect Securities Inc (VND), SSI Securities Inc (SSI), APG Securities JSC (APG), VIX Securities Joint Stock Company (VIX) and Viet Dragon Securities Corporation (VDS) all declined.

The 30 biggest stocks tracker, VN30-Index, climbed 0.60 per cent to finish at 1,550.46 points.

Of the VN30 basket, 15 stocks increased while 13 decreased, while two ended flat.

Meanwhile, on the Ha Noi Stock Exchange (HNX), the HNX-Index gained 0.22 per cent to close at 417.89 points.

The northern market index had also edged up 2.6 points, or 0.62 per cent, to end Monday at 419.22 points.

During the session, over 59 million shares were traded on HNX, worth VND1.6 trillion. — VNS

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