Shares struggle to stay positive, textile and retail stocks spur market

Workers of Thanh Cong Textile Garment Investment Trading Joint Stock Company (TCM). TCM was up 3.8 per cent yesterday. Photo thanhcong.com.vn

Shares struggled to stay positive on Friday with large-caps experiencing strong volatility but cash flow pouring into textile and retail stocks still spurred the market’s uptrend.

On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index edged up 0.02 per cent, to 1,498.50 points.

The market's breadth was positive with 231 gainers and 211 losers.

During the session, nearly 769 million shares were traded on the southern bourse, worth over VND24.5 trillion (US$1.07 billion).

The VN30-Index, which tracks the 30 biggest stocks on HoSE, rose 0.06 per cent, to 1,498.36 points.

Of the VN30 basket, 18 stocks slid, while only eight inched higher and four ended flat.

In the VN-30 basket, the best performers included Bank for Investment and Development of Vietnam (BID), rising 0.8 per cent, Khang Dien House (KDH), climbing 0.4 per cent, Novaland (NVL), up 1 per cent, Vinhomes (VHM), increasing 0.3 per cent and VPBank (VPB), rising 1.1 per cent.

On the other side, losers were Bao Viet Holdings (BVH), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Vietinbank (CTG), HDBank (HDB), PVPower (POW), Sabeco (SAB), Masan Group (MSN), Vietjet (VJC) and Vinamilk (VNM).

Cash flow tended to run into industrial retail stocks such as Mobile World Group (MWG), rising 3.7 per cent, Digiworld (DGW), up 4.1 per cent, Petrovietnam General Services JSC Corporation (PET), up 5.9 per cent, Petroleum General Distribution Services JSC (PSD), rising 5.7 per cent.

The textile and garment industry experienced a positive trading day with notable industry-representative stocks increasing strongly. In which, Century Synthetic Fiber Corporation (STK) rose 5.2 per cent. Song Hong Garment Joint Stock Company (MSH), up 4.1 per cent, Thanh Cong Textile Garment Investment Trading Joint Stock Company (TCM), up 3.8 per cent, Viet Thang Corporation (TVT), up 2 per cent, TNG Investment and Trading JSC (TNG) advancing more than 5 per cent and Viet Nam National Textile & Garment Group (VGT) inched up 2.7 per cent.

On the Ha Noi Stock Exchange (HNX), meanwhile, the HNX-Index lost 0.23 per cent to end at 461.75 points.

During the trading session, investors poured more than VND3.6 trillion into the bourse, equivalent to a trading volume of more than 127 million shares. — VNS