VIC drives VN-Index up

HCMC – Many small stocks came under profit-taking pressure today, February 14, but the VN-Index of the Hochiminh Stock Exchange still gained, largely backed by leading property developer VIC and its affiliates.

The index added 7.09 points, or 0.75%, over the previous session to close at 952.34 points, with 142 stocks rising and 155 others falling.

Trading volume slipped 15.9% at 181 million shares, and its value declined a slight 3% at some VND4.8 trillion. The local put-through market was active with around 24.4 million shares worth more than VND1.5 trillion changing hands.

VIC was the top index contributor as the firm gained 3.58% at VND112,900 per share with matching volume totaling about one million shares.

Meanwhile, its housing subsidiary VHM and its fellow retailer VRE advanced 2.38% and 3.62% respectively at VND81,900 and VND31,500. They saw a total of over 3.5 million shares traded.

Large-cap stocks such as dairy producer VNM, lender VCB, brewer SAB and steelmaker HPG made modest gains today, while lenders EIB, VPB and HDB were in negative territory.

HPG was the most heavily traded stock with 6.46 million shares changing hands. It was followed by State-owned electricity firm POW, lenders MBB and CTG with over five million shares each.

A large number of small stocks were hit by a strong sell-off. Notably, leading steel maker HSG, which failed to go up to its ceiling level today, added 2.15% at VND7,600 per share, with some 5.4 million shares traded.

Other small stocks such as property developer HAR, mining firm AMD, and steel maker NKG shot up to their ceiling prices and gained total matching volume of more than 7.8 million shares.

In contrast, small stocks such as agro-chemical firm HAI, realty developers HAG, QCG, ASM and DLG, as well as consumer goods firm IDI and industrial zone developer IDI were in negative territory.

Meanwhile, the HNX-Index of the Hanoi Stock Exchange eased off its three-day rise, closing down 0.35% at 106.12 points. Trading volume and value on the northern bourse increased by 25.8% and 6.6%, respectively to 39 million shares and VND432 billion.

VCS, a manufacturer of quartz based engineered stones, surged by 4.03% to VND64,500 while VCG, a construction firm, inched up 2.88%.

For the fourth time in a row since the first working week after Tet, the Lunar New Year holiday, lender SHB took the lead by liquidity with matching volume of 9.15 million shares, adding 2.6% at VND7,900.

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