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Friday, October 23, 2020

Bluechips drive up main index

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HCMC – Despite strong selling pressure, bluechip stocks performed well, sending the benchmark VN-Index on the Hochiminh Stock Exchange up to mark a six-day winning streak today, October 16.

With 170 gainers and 235 losers, the main index added 0.54 point, or 0.06% against the previous session at 943.3. Trading volume and value fell slightly by 5.77% and 1.4% versus Thursday to 443 million shares worth over VND9.2 trillion, including some VND1.2 trillion worth of shares traded in put-through deals.

In the VN30 basket, outstanding winners included lender CTG, tech firm FPT, and jewelry company PNJ that soared 3.7%, 3.9%, 4.8%, respectively.

Notably, bank stocks were cash flow magnets. Lender TCB led the southern bourse by liquidity with over 27 million shares changing hands, but it underwent some correction and dropped a slight 0.88%. Other bank stocks reported matching volumes of 9-13 million shares.

Also, other bluechips that made slight gains and contributed to the main index’s growth included GAS, PLX, VIC, and HPG.

Meanwhile, big caps such as housing developer VHM, dairy firm VNM, lender VCB, retailer VRE, and brewery company SAB bucked the market trend as they closed in negative territory.

Among small and medium stocks, furniture firm TTF and realty firm DXG hit their ceiling prices.

On the northern bourse, the HNX-Index managed to maintain its growth momentum, rising 0.12% against the previous session to 139.82, with 58 winners and 88 losers.

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