Shares rise for second day, propelled by food stocks

Thursday, Aug 25, 2022 07:43

Workers pack rice at Thoai Son Food Co Ltd, under Loc Troi Group (LTG). LTG increased by 6.3 per cent yesterday. — VNA/VNS Photo Pham Hau

Shares gained for the second day on Wednesday, propelled by buoyant banking and food stocks.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index gained 0.50 per cent to close at 1,277.16 points.

The southern market index had risen 1.3 per cent in the last two days.

Market breadth was positive with 172 decliners and 279 gainers.

Some 601.9 million shares were traded on the southern exchange, worth VND15.2 trillion (US$647.4 million).

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, gained 0.34 per cent to reach 1,296.41 points. In the basket, 17 stocks climbed, one stayed flat and 12 slid.

Banking stocks gained ground with most of the stocks in the basket rising, including Vietinbank (CTG), Asia Commercial Bank (ACB), Tien Phong Bank (TPB), National Commercial Joint Stock Bank (NVB), Vietcombank (VCB), Military Bank (MBB), Bank for Investment and Development of Vietnam (BID), Techcombank (TCB), Sacombank (STB) and VPBank (VPB)

Energy stocks also attracted cash flow with gainers such as PTSC Offshore Services JSC (POS) up 4 per cent, Drilling Mud Joint Stock Corporation (PVC) up 6 per cent, PetroVietnam Drilling and Well Services Corporation (PVD) up 3 per cent, and PV OIL (OIL) up 2.3 per cent.

Food stocks made strong gains, in which Trung An Hi-Tech Farming JSC (TAR) and The Pan Group Joint Stock Company (PAN) both reached ceiling prices. Loc Troi Group Joint Stock Company (LTG) increased by 6.3 per cent, Nafoods Group Joint Stock Company (NAF) rose by 3.1 per cent, Yen Bai Joint Stock Forest Agricultural Products And Foodstuff Company (CAP) gained by 2.7 per cent.

On a sector basis, 23 out of 25 sector indices on the stock market gained ground, including oil and gas, banking, wholesale, construction, rubber production, IT and logistics, agriculture, real estate, food and beverage, retail, seafood production, construction materials, and plastic and chemical production.

The HNX-Index on the Ha Noi Stock Exchange (HNX) rose 0.72 per cent to close Wednesday at 301.30 points.

The index had risen 1.5 per cent to close Tuesday at 299.14 points.

More than 73.6 million shares were traded on the northern exchange, worth VND1.7 trillion. — VNS

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