Shares progress on improved liquidity

Wednesday, Aug 26, 2020 07:32

In a store of Mobile World Group (MWG). MWG rose 4.2 per cent on Tuesday. — Photo

Shares finished higher on both the national stock exchanges with improved liquidity boosted by strong buying demand on Tuesday.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.63 per cent to close Tuesday at 874.12 points.

The index had gained 1.63 per cent to end Monday at 868.68 points.

Liquidity improved from the previous trading session with more than 399 million shares traded on the southern exchange, worth VND7.5 trillion (US$323.7 million).

“VN-Index is entering the important resistance zone of 870-875 points and the response here will determine its trend in next trading sessions,” said Sai Gon-Ha Noi Securities Co (SHS).

Market breadth was positive with 209 gainers and 179 decliners.

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 0.68 per cent to close Tuesday at 815.18 points.

In the VN30 basket, 16 of the 30 largest stocks by market capitalisation and trading liquidity increased. Eight lost ground and six were unchanged.

Strong cash flow poured into some large-caps such as Vietinbank (CTG), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Military Bank (MBB), Masan Group (MSN), Mobile World Group (MWG), National Petroleum Group (PLX), Phu Nhuan Jewelry (PNJ), Techcombank (TCB), Vingroup (VIC), Sabeco (SAB) and Vinamilk (VNM).

They all rallied between 0.7 and 3.9 per cent.

Some blue-chips still lost ground and weighed down on market’s rally, such as Vietjet (VJC), VPBank (VPB), Vinhomes (VHM), PV Power (POW), Hoa Phat Group (HPG), Novaland (NVL) and Bank for Investment and Development of Viet Nam (BID).

On a sector basis, 15 out of 25 sector indices on the stock market gained ground, including real estate, insurance, banking, information and technology, seafood processing, food and beverage and construction.

On the negative side, logistics, energy, securities and agriculture were among the decliners.

The HNX-Index on the Ha Noi Stock Exchange climbed 0.17 per cent to close Tuesday at 123.37 points.

The index had grown 0.43 per cent to end Monday at 123.16 points.

Nearly 58 million shares were traded on the northern bourse, worth VND663 billion.

Foreign investors net sold VND459.3 billion on HOSE. They were net sellers on the HNX with a value of VND1.12 billion. — VNS

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