Shares rise for eightht consecutive session as cash flow increases

Wednesday, Oct 21, 2020 07:07

A Vincom Centre developed by Vincom Retail (VRE). VRE rose 0.37 per cent on Tuesday. Photo the courtesy of VRE

Shares recovered from early losses on Tuesday to inch upwards, marking the eighth consecutive gaining day as cash flow increased at the end of the session and pushed up many large-cap stocks.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.08 per cent to close trading at 944.42 points.

The index had risen 2.8 per cent in the last seven trading sessions.

More than 444.3 million shares were traded on the southern bourse, worth VND9.2 trillion (US$396.9 million).

Market breadth was neutral with 189 decliners and 200 gainers.

“Market liquidity increased from the previous session, and market breadth was in equilibrium, showing the current profit-taking pressure is not strong enough to reverse the trend,” said BIDV Securities Company.

“According to our assessment, the VN-Index is likely to continue struggling at 940-945 points in the next few sessions,” the company said.

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, increased 0.66 per cent to close Tuesday at 909.49 points.

In the VN-30 basket, 17 stocks gained ground, 10 decreased and three remained flat.

Cash flow was injected into banking stocks like Asia Commercial Joint Stock Bank (ACB), Bank for Investment and Development of Viet Nam (BID), Vietcombank (VCB), Sacombank (STB), Military Bank (MBB), VPBank (VPB) and Techcombank (TCB).

Other blue-chip stocks also performed well and rescued the VN-Index from early losses such as Vingroup (VIC), Vinhomes (VHM), Vincom Retail (VRE), steel company Hoa Phat Group (HPG) and Masan Group (MSN).

On a sector basis, 13 out of 25 sector indices gained ground, including real estate, retail, energy, banking, rubber production, seafood processing, construction materials, logistics, plastics and chemical production.

On the other side, 12 sector indices lost steam, including wholesale, insurance, securities, information and technology, health care, food and beverage and construction.

The minor HNX-Index on the Ha Noi Stock Exchange decreased 0.4 per cent to end Tuesday at 140.33 points.

The northern market index had gained 0.76 per cent to close Monday at 140.88 points.

More than 49 million shares were traded on the northern exchange, worth VND771 billion.

Foreign investors net sold VND952 billion on HOSE. They were net buyers on the HNX with a value of VND6.07 billion. — VNS

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