Shares gain on strong cash flow

Wednesday, Jul 28, 2021 07:06

Customers wash their hands with sanitiser at Vietinbank's branch. Shares of Vietinbank (CTG) rose 1.1 per cent on Tuesday. — Photo

Viet Nam's stock market settled higher on Tuesday as stocks in all sectors recovered from recent losses thanks to a strong injection of cash flow.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 0.33 per cent to close at 1,276.93 points.

The southern market index had gained 0.31 per cent to close Monday at 1,272.71 points.

The southern market index had lost 2.34 per cent last week.

The market's breadth was positive with 227 stocks increasing while 163 stocks declined.

The liquidity was higher than the previous session with over VND17.6 trillion (US$764 million) poured into the market, equivalent to a trading volume of about 523 million shares.

The VN30-Index, which tracks 30 biggest stocks on the southern bourse, witnessed a rise of 0.42 per cent to 1,409.85 points. Of the VN30 basket, 19 stocks climbed while 10 slid.

The best performers in the VN30 group were Vietinbank (CTG), PetroVietnam Gas JSC (GAS), Hoa Phat Group (HPG), Khang Dien House (KDH), Masan Group (MSN), Military Bank (MBB), Bank for Investment and Development of Vietnam (BID), Vingroup (VIC), Vietjet (VJC) and Vincom Retail (VRE).

Stocks across all sectors bounced back as investors' risk appetite returned, with bank stocks still the most attractive investments.

Towards the end of the session, the VN-Index's gain was significantly strengthened as securities stocks gained, such as SSI Securities Inc (SSI) FPT Securities Joint Stock Company (FTS) and Ho Chi Minh City Securities Corporation (HCM).

Viet Capital Incorporation (VCI), SSI Securities Incorporation (SSI), Agribank Securities Corporation (AGR) and APG Securities Joint Stock Company (APG) also gained.

“VN-Index remained in green from the beginning of the morning until the end of the afternoon and now the index has returned to the area above 1,275 points,” said BIDV Securities Co.

“Meanwhile, foreign investors were net buyers on HSX and net sold on HNX. Market breadth maintained equilibrium with increased liquidity compared to the previous session. According to our assessment, VN-Index will probably continue to fluctuate in a narrow range in the next session,” it said.

Foreign investors net bought VND338.99 billion on HOSE. They were net sellers on the HNX with a value of VND10.9 billion.

On the Ha Noi Stock Exchange (HNX), the HNX-Index also rose 1.03 per cent to 306.00 points.

The index had gained 0.36 per cent on Monday close at 302.88 points.

Some 90 million shares were traded on the northern exchange, worth VND2.14 trillion. — VNS

Comments (0)