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Sunday, October 25, 2020

VN-Index makes slight rebound

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HCMC – The VN-Index of the HCMC market recovered and ended up slightly on May 5, thanks to pretty strong cash flow. However, cautious sentiment still dominated the local stock market as liquidity remained low.

With 182 stocks rising and 159 others declining, the benchmark index gained 1.69 points, or 0.22% over the session earlier, to close at 764.16. Trade volume totaled over 200 million shares worth of some VND3.4 trillion, dropping 25% in volume and 15% in value compared to the previous session.

Dairy firm VNM and gas company GAS were the two biggest contributors to the index’s recovery. VNM added 3% to VND100,500 while GAS expanded 2.7% to VND65,500.

GAS announced at its 2020 annual general shareholder meeting held on May 5 that it is set to earn over VND66 trillion in revenues, with after-tax profit exceeding VND6.6 trillion. However, the figures were worked out based on the price of crude oil at US$60 per barrel.

Aside from the support of these two bigcap stocks, steelmaker HPG, lender VPB, and insurer BVH were among positive contributors to the main index. Other good performers included VIC, PLX, HDB, VRE, FPT.

Many speculative stocks recorded positive liquidity. Of them, industrial zone developer ITA led the southern market by liquidity with matching volume reaching 7.43 million shares.

On the northern bourse, the HNX-Index shed 0.31 point, or 0.29% against Monday to 105.41, with 38 advancers and 40 decliners.

 

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