Shares make large gains on banking, securities stocks

Investors at the trading floor of VNDirect Securities Co (VND). VND soared 6 per cent on Tuesday. — Photo courtesy of VNDirect

Vietnamese equities closed sharply higher on Tuesday, bolstered by a dramatic injection of cash flow into banking and securities.

The market’s benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) ended the day at 1,088.29 points, an increase of 2.03 per cent.

The breadth of the market stayed in positive territory, with more stocks gaining points. Specifically, 352 stocks advanced on the southern bourse, while 69 stocks inched lower.

Investors poured nearly VND11.7 trillion (US$499.3 million) into the southern exchange, equivalent to a trading volume of 673.9 million shares.

The VN30-Index, which tracks the 30 biggest stocks on HoSE, also increased by 2.6 per cent, to 1,103.73 points.

Twenty-nine stocks in the VN30 basket witnessed positive performance on the trading day, while only one tumbled.

Strong cash flow poured into blue-chips, spurring the market’s gains. Among the most notable gainers were Hoa Phat Group (HPG), the Viet Nam Rubber Group (GVR), SSI Securities Inc (SSI), Khang Dien House (KDH) and FPT Corporation (FPT), Vingroup (VIC), Vincom Retail (VRE), Masan Group (MSN), Vinhomes (VHM), Novaland (NVL), Vietjet (VJC), Vinamilk (VNM), Mobile World Group (MWG) and Bao Viet Holdings (BVH).

Bank stock prices have witnessed a substantial increase such as Agribank Securities Corporation (AGR), Asia - Pacific Securities Joint Stock Company (APS), Viet Nam Bank For Industry & Trade Securities JSC (CTS), Military Bank (MBB), Petrovietnam Securities Incorporated (PSI), Sacombank Securities Joint Stock Company (SBS), VNDirect Securities Co (VND), FPT Securities Joint Stock Company (FTS) and Lien Viet Post Bank (LPB).

“In the last week of the Lunar Year, BSC maintains the view that VN-Index may not have too strong fluctuations and will continue to accumulate in the range of 1,050-1,065,” said BIDV Securities Co (BSC).

Foreign investors net bought VND227.96 billion on HOSE, including FUESSVFL with VND124.26 billion, Hoa Phat Group (HPG) with VND30.29 billion, Bank for Investment and Development (BID) with VND29.99 billion. Foreign investors were net sellers on HNX with the value of VND1.5 billion.

On the Ha Noi Stock Exchange (HNX), the HNX-Index moved up. The northern market’s benchmark closed at 215.15 points, a decline of 2.02 per cent.

During the session, nearly 64.7 million shares were traded on HNX, worth VND934 billion. — VNS