Shares strongly rebound on bottom-fishing force

Wednesday, Oct 12, 2022 12:20

Benchmark indices bounced back from yesterday's great losses on Wednesday morning, boosted by bottom-fishing sentiment.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) surged by 30.43 points, or 3.02 per cent, to 1,036.63 points. It almost broke below the key level of 1,000 points in the previous session with a dip of 36.28 points.

The market breadth was positive as 254 stocks increased, of which 13 stocks hitting ceiling prices, while 82 stocks declined.

However liquidity remained low with over VNĐ6 trillion (US$251.2 million) worth of stocks, equal to more than 332.2 million shares, traded on the southern bourse.

Large-cap stocks also saw great performance. The VN30-Index, which tracks 30 biggest stocks on HoSE, advanced 36.19 points, or 3.61 per cent, to end the morning trade at 1,037.87 points.

In the VN30 basket, only one stock inched down, while 29 others went up.

Pillar stocks in key industries continued to lead the market's trend. Accordingly, Vietcombank (VCB) was the biggest gainer this morning, up 5.16 per cent in market capitalisation.

Other banking stocks contributing to the gain were BIDV (BID), Vietinbank (CTG), Sacombank (STB), Techcombank (TCB), VPBank (VPB) and MBBank (MBB), of which BID, CTG and STG all registered the maximum intra-day rally of 7 per cent.

Manufacturing, realty, IT, utilities and retail sectors also witnessed a strong recovery.

On the Ha Noi Stock Exchange (HNX), the HNX-Index also finished higher, up 4.11 points, or 1.88 per cent, to 222.89 points. VNS

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