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Shares rally on upbeat blue chips

Investors follow market fluctuations at the Saigon Securities Incorporate (SSI) trading floor on Hà Nội’s Ngô Quyền Street. — VNS Photo Trương Vị.

HÀ NỘI — The markets rallied on Thursday thanks to strong investor interest in large-cap stocks and positive information from the global market.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange was up 0. 二0 per cent to  九 二 四. 四 二 points. It added 0. 三 九 per cent to close at  九 二 二. 五 六 points on Wednesday.

On the Ha Noi Stock Exchange, the HNX-Index climbed 0. 六 三 per cent to end at  一0 四. 五 五 points. It slipped 0.0 一 per cent to end at  一0 三. 九0 points on Wednesday.

Nearly  二 一 五 million shares worth a combined VNĐ 四. 六 trillion (US$ 一 九 六 million) were traded on the two bourses.

Market breadth was balanced with  二 一 五 stocks gaining,  二 一 五 declining and  三 一 九 remaining unchanged.

World stock markets rose on Wednesday, with Wall Street tipping higher on gains in technology and energy shares, while oil rebounded from a steep sell-off as US government data pointed to strong demand.

Thanks to the support of large-cap stocks such as Vinhomes (VHM), TPBank (TPB), Masan Group (MSN), Mobile World (MWG), Bảo Việt Holdings (BVH), Asia Co妹妹ercial Bank (ACB) and VPBank (VPB), market indices remained strong.

VHM rose by  一. 六 per cent to trade at VNĐ 七 七,000 per share. TPB jumped  四. 五 per cent to VNĐ 二 八, 一00. VPB increased by  三 per cent to VNĐ 二 二, 四 五0. HDB gained  一. 八 per cent to VNĐ 三0, 八00.

ACB rallied by  一. 七 per cent to trade at VNĐ 二 九, 四00 per share. The bank’s CEO Đỗ Minh Toàn registered to buy  五00,000 shares of ACB. At the same time, Nguyễn Văn Hòa, deputy general director of ACB, also registered to buy  三00,000 shares.

Đỗ Minh Quân, son of Vice Chairman of the TPBank’s Board of Director Đỗ Anh Tú, registered to buy  二 五 million shares of TPB, equivalent to  三. 七 五 per cent of the bank’s capital. The information helped TPB increase by  一. 一 per cent to VNĐ 二 七, 二00 per share.

Sara Vietnam JSC (SRA) soared exponentially, hitting the daily gain limit of  一0 per cent in the past four trading sessions despite the news that the company’s chairman cum general director Đặng Quang Nam failed to buy  三00,000 SRA shares.

He registered to buy the shares in early October.

In the opposite direction, many other blue-chips such as PetroVietnam Gas JSC (GAS), steel makers Hoa Sen Group (HSG) and Hòa Phát Group (HPG), PetroVietnam Drilling and Well Services Corporation (PVD), and Vincom Retail (VRE), saw momentum slow, restraining the upward movement of the indices.

The UPCOM Index on the Unlisted Public Company Market (UPCoM) climbed 0. 一 九 per cent to finish at  五 二. 一 六 points. It closed flat at  五 二.0 六 points on Wednesday

According to Sài Gòn-Hà Nội Securities Joint Stock Company (SHS), the VN-Index maintained its upward momentum for five consecutive sessions with liquidity still below the average level of the nearest  二0 sessions.

“This shows that the price increases have not been attractive enough to draw large cash flow back to the market,” SHS said in its daily report.

With the US stock market being closed for the past two days this week, the Vietnamese market has an opportunity to show its real trends as investors will not rely on the global market’s movement to make trading decisions.

“The VN-Index is likely to continue rising towards the nearest threshold at  九 三0 points, a short-term peak of the market,” SHS said. — VNS