Shares narrow gains on market swing

Wednesday, Nov 04, 2020 07:21

Workers of the Vietnam Rubber Group JSC (GVR) harvest rubber latex. GVR rose 6.2 per cent on Tuesday. — Photo

The Vietnamese stock market closed higher on Tuesday with the VN-Index posting slimmer gains on the eve of the US presidential election, as investors braced for market turbulence this week.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange increased by 0.19 per cent to close at 935.41 points.

It had gained 0.89 per cent to close Monday at 933.68 points.

More than 318.7 million shares were traded on the southern bourse, worth VND6.3 trillion (US$272.9 million).

Market breadth was positive with 157 decliners and 266 gainers.

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, increased by 0.32 per cent to close Tuesday at 902.14 points.

In the VN-30 basket, 18 stocks gained ground, eleven decreased and one remained flat.

“Market liquidity improved compared to the previous session, and market breadth was in a positive status, indicating that demand was dominating,” said BIDV Securities Co.

“According to our assessment, the VN-Index may have a large fluctuation session tomorrow when the majority of states' vote results in the US are announced.”

Shares of sugar company Thanh Thanh Cong-Bien Hoa JSC (SBT) soared 4.4 per cent after the company announced positive earning results, with revenue up 15 per cent and profit up 192 per cent.

Other blue-chips also performed well such as the Vietnam Rubber Group JSC (GVR), Techcombank (TCB), FPT Corporation (FPT), Asia Commercial Bank (ACB) and Bao Viet Holdings (BVH).

Some large-caps still declined due to profit-taking pressure including Vingroup (VIC), Masan Group (MSN), Phu Nhuan Jewelry (PNJ) and Sabeco (SAB).

VIC dropped 1.4 per cent to VND105,000 per share, MSN decreased by 0.6 per cent to VND84,000 per share.

On a sector basis, 19 of 25 sector indices gained ground, including retail, energy, banking, seafood processing, construction materials, logistics, plastics and chemical production, wholesale, insurance, securities, information and technology, food and beverage and construction.

Meanwhile, healthcare and real estate were among the decliners.

Foreigners net sold VND652.95 billion on HOSE. They were net sellers on the HNX with a value of VND6.51 billion.

The minor HNX-Index on the Ha Noi Stock Exchange increased by 1.52 per cent to end Tuesday at 138.58 points.

It had increased by 1.13 per cent to end Monday at 136.87 points.

Nearly 42 million shares were traded on the northern exchange, worth VND627 billion. — VNS

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