Shares hit fresh peak on strong buying force

Tuesday, Apr 20, 2021 08:35

An overview of Melosa Gargen project in HCM City developed by Khang Dien House Trading and Investment JSC (KDH). KDH rose 5.4 per cent on Monday. — Photo

Shares hit a fresh peak on Monday as strong buying force bolstered market sentiment.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) closed the first session of the week at 1,260.58 points, up 1.77 per cent or 21.87 points.

The market breadth was positive as 297 stocks gained while 126 stocks decreased during the session. The market's liquidity stayed high with over 817.1 million shares traded on the southern bourse, worth VND19.8 trillion (US$861.3 million).

“After the sharp drop last week, VN-Index quickly regained its position and surpassed the psychological level of 1,250 points today,” said BIDV Securities Co.

“Investment cash flow poured strongly into the market. Market breadth widened and stayed positive, strongly reflecting the positive trading sentiment.

“Foreign investors continued to be net sellers on both HoSE and HNX. With stable domestic cash flow and excited trading sentiment, the VN-Index is likely to move in the 1,250 -1,280 points range in the next sessions,” the company said.

Foreign investors net sold VND743.05 billion on HOSE, including Vinamilk (VNM) (VND262.8 billion), Vinhomes (VHM) (VND145 billion) and Military Bank (MBB) (VND85.5 billion). Foreigners were net sellers on the HNX with the value of VND13.43 billion.

The VN30-Index gained 2.3 per cent, or 29.35 points, to finish Monday's trade at 1,306.22 points. Twenty-five of the 30 biggest stocks in the VN30 basket increased while only four declined.

Masan Group (MSN) and Phat Dat Real Estate (PDR) both led this group as they hit the ceiling prices. Hoa Phat Group (HPG) and Khang Dien House (KDH) both gained by more than 5 per cent.

Sacombank (STB), Vinhomes (VHM), Phu Nhuan Jewelry (PNJ) were gainers of over 3 per cent. Bao Viet Holdings (BVH), Techcombank (TCB), Mobile World Group (MWG), Bank for Investment and Development of Vietnam (BID), HDBank (HDB), SSI Securities Inc (SSI), FPT Corporation (FPT), Vietcombank (VCB) and Tien Phong Bank (TPB) were among the advancers with 2-per-cent increases.

ThanhThanh Cong – Bien Hoa JSC (SBT) was the biggest loser with more than 1-per-cent loss. Vinamilk (VNM), PVPower (POW) and Petrolimex (PLX) were the other losers of VN-30 group.

On the Ha Noi Stock Exchange, the HNX-Index gained by 0.90 per cent to close Monday at 295.75 points.

Nearly 158 million shares were traded on the northern exchange, worth VND2.8 trillion. — VNS

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