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Thursday, October 29, 2020

VN-Index flies high on bluechips

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HCMC – Improved liquidity, coupled with the strong support of stocks in the Vingroup family, lender HDB, brewery SAB, and local budget carrier VJC, sent the VN-Index of the Hochiminh Stock Exchange to above 900 points today, September 3.

With 235 advancers and 170 decliners, the benchmark index expanded 12.24 points, or 1.37% against the session earlier to reach 903.97 at the close. Turnover on the southern bourse increased with volume and value rising 17% and 27% at over 370 million shares worth VND7.6 trillion, including over VND1.5 trillion worth of shares traded in block deals.

In the Vingroup family, real estate firm VIC, retailer VRE, and housing developer VHM rose 1.9%, 3.2%, 1.1% respectively.

Other largecaps made headway with SAB inching up 2%, VJC improving 2%, and POW surging as much as 4.5%.

Besides, some bank stocks including VCB, BID, and VPB made gains. Especially, HDB was the biggest winner in this group as it soared a staggering 4.6% to VND29,800.

The increase of other bluechips such as dairy firm VNM, electronic store chain owner MWG, tech firm FPT, and lender TCB by over 1% contributed to the growth of the main index.

Meanwhile, lender EIB stood at its reference price, its peer CTG fell 0.8%. Sugar maker SBT dropped 0.7%.

Steelmaker HSG led the HCMC market by liquidity with matching volume reaching nearly 15 million shares. It added 1.3% to VND11,950.

On the northern bourse, lender ACB and construction firm VCG bouncing back helped the HNX-Index end in positive territory after staying below its reference price for most of the session. Closing, the index gained 0.64 point, or 0.51% versus the previous session at 126.05.

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