Shares recover on the back of bank, real estate stocks

Thursday, Mar 10, 2022 17:16

A view of Gem Sky World urban area project developed by Dat Xanh Group (DXG). DXG rose 3.2 per cent Thursday. — Photo courtesy of Dat Xanh Group

Shares recovered on Thursday thanks to investors venturing back into bank and real estate shares along with soothed sentiment on hopes that Russia and Ukraine may start their third negotiation more seriously.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) gained 0.36 per cent to close at 1,479.08 points. The index stayed flat on Wednesday.

The market’s breadth remained positive with 295 gainers and 164 losers.

Liquidity decreased sharply compared to Wednesday's session with nearly 650 million shares traded on the southern bourse, worth nearly VND20.2 trillion (US$1.5 billion).

The benchmark gained ground as some pillar stocks made strong increases. The VN30-index rose 0.07 per cent, to 1,490.24 points.

Seventeen of HoSE’s 30 biggest stocks in market capitalisation in the VN30 basket increased, while 12 stocks declined and one stayed flat.

The VN-Index's gain continued to be consolidated thanks to the push from large-caps. Of which, Bank for Investment and Development of Viet Nam (BID), was up by 3.1 per cent, Vingroup (VIC) up by 2.9 per cent, Vincom Retail (VRE) rising by 2.7 per cent and Vinamilk (VNM) up by 2 per cent.

The banking group performed positively and supported the market with notable gainers including Vietinbank (CTG), Tien Phong Bank (TPB), Vietcombank (VCB), Military Bank (MBB), Sacombank (STB), Techcombank (TCB), Eximbank (EIB) and Bank for Investment and Development of Viet Nam (BID).

Real estate shares also attracted strong cash flow and supported the overall market such as C.E.O Group JSC (CEO), Development Investment Construction Corporation (DIG), Long Giang Investment & Urban Development JSC (LGL), Vingroup (VIC), Vinhomes (VHM), Novaland (NVL), Dat Xanh Group (DXG), Nam Long Group (NLG), Khang Dien House (KDH) and Phat Dat Real Estate (PDR).

Energy stocks suffered selling pressure with losers such as Viet Nam National Petroleum Group (PLX), PVPower (POW), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroVietnam Gas JSC (GAS).

Fifteen out of 25 sector indices on the stock market made gains, including banking, real estate, securities, wholesale, retail, food and beverage, construction, seafood processing, insurance and logistics.

The HNX-Index on the Ha Noi Stock Exchange (HNX) finished higher, with a rise of 0.68 per cent, to 447.64 points.

More than VND3 trillion worth of shares were traded on the northern market, equivalent to a trading volume of nearly 119 million shares. — VNS

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