Shares manage to stay positive thanks to securities stocks

Wednesday, Apr 19, 2023 06:56

The office of VNDirect Securities Co (VND). VND gained 2 per cent Tuesday. — Photo courtesy of the company

Stocks managed to end on a positive note on Tuesday, bolstered by the growth of the securities stocks group.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index gained 0.11 per cent to close at 1,055.02 points.

The index had risen 0.09 per cent to close Monday at 1,053.81 points.

Market breadth was positive with 153 decliners and 226 gainers.

Some 540 million shares were traded on the southern exchange, worth VND9.6 trillion (US$408.4 million).

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, lost 0.04 per cent to reach 1,064.55 points. In the basket, 14 stocks climbed, three stayed flat and 13 slid.

Securities stocks increased towards the end of the session. VN-Index's gain was significantly boosted as securities stocks rose strongly, such as VNDirect Securities Corporation (VND), Saigon-Hanoi Securities JSC (SHS), Viet Capital Incorporation (VCI), Agribank Securities Corporation (AGR) and APG Securities Joint Stock Company (APG).

“Liquidity dropped, showing that the supply at low prices has not been drastic but the supporting cash flow is still cautious and only helps to support the market,” said Viet Dragon Securities Co.

“With the recovery at the end of the session, it is possible to expect the market's ability to recover in the next session. However, the level of recovery may be modest because the supply is still large when the market recovers to the resistance zone of 1,060 – 1,065 points at VN-Index, while the pressure of supply is still maintained in recent sessions.

“Therefore, investors should observe supply and demand movements in the near future and keep the portfolio proportion at a reasonable level. At the same time, it is still advisable to take advantage of the market's recovery to take short-term profits or sell to minimise risks for the portfolio,” the company said.

The HNX-Index on the Ha Noi Stock Exchange (HNX) rose 0.78 per cent to close Tuesday at 208.25 points.

It had dropped 0.3 per cent to end Monday at 206.63 points.

More than 74.3 million shares were traded on the northern exchange, worth VND1 trillion. — VNS

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