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Wednesday, October 21, 2020

Benchmark index beats 940-point level

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HCMC – The local stock market saw an impressive trading session today, October 14, as the VN-Index of the Hochiminh Stock Exchange managed to beat the level of 940 points with turnover rising sharply.

Although analysts earlier predicted the local market would be volatile, the main index still advanced further in the morning, driven by strong cash flow. Investors’ upbeat sentiment remained till the afternoon, supporting the index.

With 216 winners and 189 losers, the VN-Index expanded 10.32 points, or 1.11% against the previous session to close at 940.18. Active cash flow spurred turnover on the southern bourse as volume and value expanded by 32.29% and 121.4% to over 474 million shares worth more than VND14.3 trillion. Shares traded in block deals contributed over VND6.7 trillion to the overall value.

Notably, lender TCB stole the limelight as it surged to its ceiling price of VND22,850 with a huge matching volume of 48.63 million shares, which was much higher than those of other stocks in the market and was the highest turnover amount since it was listed on the exchange. Besides this, foreign investors bought 26.35 million TCB shares and sold 32.22 million TCB shares.

Aside from TCB, other bank stocks such as BID, VCB, VPB traded in an upbeat note. Their fellows STB and VPB were actively traded stocks with matching volume reaching tens of million shares.

Other stocks in the VN30 basket staged outstanding performance, especially consumer goods firm MSN that soared sharply to hit its upper limit. During the first ten sessions in October, MSN underwent some correction and declined on October 2, but it made gains for the rest of the sessions.

Brewery firm SAB extended rally and contributed to the main index’s gain. The stock rose up 3.26% to end at VND190,000.

As for the Hanoi market, with 78 advancers and 85 decliners, the HNX-Index maintained its growth momentum as it rose 0.98% over the session earlier to reach 137.49. Two lenders ACB and SHB were major supporters of the index.

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