The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched up 0.51 per cent to close at 992.56 points. -- Photo tinnhanhchungkhoan.vn

Shares rallied on Friday morning thanks to the strong support of the banking sector.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched up 0.51 per cent to close at 992.56 points.

The southern market index rose 1.75 per cent to close at 987.57 points on Thursday.

More than 114.5 million shares were traded on the southern bourse, worth over VND2.6 trillion (US$111 million).

Large-cap stocks performed well, boosting the blue-chip VN30 Index 0.71 per cent to 932.63 points.

Seventeen of the 30 largest stocks by market capitalisation in the VN30 basket advanced while 12 declined, the remaining one was unchanged.

Banking stocks including Vietcombank (VCB), Vietinbank (CTG), Bank for Investment and Development (BID), Tiền Phong Bank (TPB) and Sài Gòn-Hà Nội Bank (SHB) all posted strong gains and helped the indices climb. VCB increased 3.5 per cent to VNĐ62,200 per share. CTG increased 2.7 per cent to VNĐ20,950 per share. BID increased by 1 per cent to VNĐ34,600 per share.

In addition, steel makers Hoà Phát Group (HPG) and Hoa Sen Group (HSG), Vincom Retail (VRE) and budget carrier Vietjet (VJC) also increased strongly to support the market.

Some petroleum stocks also attracted cash flow such as PetroVietnam Gas Joint Stock Corporation (GAS), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling & Well Services Corporation (PVD) and Viet Nam National Petroleum Group (PLX).

The HNX-Index on the Ha Noi Stock Exchange climbed 0.60 per cent to end at 106.75 points.

The northern market index edged down 0.18 per cent to end at 106.11 points on Thursday.

Nearly 21 million shares were traded on the northern bourse, worth VND270 billion.

The afternoon trading session starts at 1pm. – VNS