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Thursday, October 22, 2020

Domestic cash flow supports VN-Index

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HCMC – The VN-Index of the Hochiminh Stock Exchange gained over 10 points with high liquidity today, September 1, thanks to active cash flow of domestic investors, while foreign investors still stayed on the selling side.

With 276 winners and 129 losers, the benchmark index added 10.08 points, or 1.14% against the previous session at 891.73. Around 317 million shares worth nearly VND6 trillion changed hands on the southern bourse, both dipping 10% in volume and 5% in value compared to Monday. Shares traded in put-through transactions contributed more than VND1.1 trillion to the total value.

Specifically, active trading of stocks in the VN30 basket buoyed the growth of the main index as up to 24 stocks in the basket ended the first session of September higher. Of the gainers, housing developer VIC soared as much as 3% to VND92,700, and local budget carrier VJC inched up 2.4% to VND105,000. Besides, jewelry maker PNJ, gas firm GAS, and two lenders TCB, CTG rose nearly 2%.

Only four decliners were recorded in the basket but they encountered only slight falls, including consumer staples firm MSN, real estate developer NVL, brewery company SAB, and lender EIB.

Steelmaker HPG was the most actively traded stock in the basket and also led the HCMC market by liquidity, with 16.75 million shares transacted.

HSG, another steelmaker, rose sharply by 4.4% and ranked third on the southern bourse by liquidity, reporting matching volume of 14.9 million shares.

The cash flow was also actively poured into speculative stocks, enabling FLC, JVC, OGC, and EVG to hit their ceiling prices.

On the northern bourse, the HNX-Index remained volatile at its reference price due to selling pressure before surging thanks to strong demand. Closing the session, the index of the Hanoi market expanded 0.56 point, or 0.45% over the session earlier at 125.41.

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