Shares rebound as cash flow returns

Thursday, Mar 03, 2022 12:37

Shares reversed yesterday's correction to bounce back on Thursday morning, boosted by the return of capital flows focusing on steel, energy and fertiliser stocks.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) increased by nearly 6 points, or 0.4 per cent, to 1,491.45 points, claiming back some of yesterday's losses.

The market breadth was positive as 254 stocks climbed, while 180 declined. Liquidity, however, sharply decreased compared to the previous session.

Of which nearly 506.9 million shares were traded on the southern bourse, worth over VND16.5 trillion (US$724.1 million).

The index's reversal was thanked to gains in large-cap stocks, especially in steel, energy and fertiliser sectors. The VN30-Index, tracking 30 biggest stocks on HoSE, rose 6.23 points, or 0.42 per cent, to 1,504.84 points.

Sixteen stocks of the VN30 basket increased in the morning trade, while eight slid and six stayed flat.

Hoa Phat Group (HPG), one of the country's leading steel producers, was the biggest gainer this morning and led the rally. The company shares jumped more than 3.5 per cent.

Hoa Sen Group (HSG) and Nam Kim Group (NKG) also saw big rallies, up 4.29 per cent and 3.94 per cent, respectively.

Other stocks supporting the uptrend were Vietnam Rubber Group (GVR), Petrolimex (PLX), Vingroup (VIC) and PV Gas (GAS). These stocks was up in a range of 0.51-1.95 per cent.

Fertiliser stocks, including Petrovietnam Fertiliser & Chemicals Corporation (DPM) and Petrovietnam Cà Mau Fertiliser JSC (DCM), also recorded positive performance in the morning trade.

On Ha Noi Stock Exchange (HNX), the HNX-Index edged up 4.04 points, or 0.91 per cent, to 446.29 points. VNS

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