VIC helps keep southern bourse at 965 points

The southern stock market was largely supported by leading property developer VIC and its housing affiliate VHM, with the VN-Index of the Hochiminh Stock Exchange staying at around 965 points today, April 22.

Though the benchmark VN-Index recovered last Friday from four consecutive falling sessions, liquidity has recently declined sharply, making investors cautious.

The local market breadth was negative as declining stocks outnumbered gainers by 196 to 101. As a result, the index edged down 0.35 of a point from the previous session at 965.86.

Its volume doubled to around 216.3 million shares and its value added a staggering 87.7% at more than VND4.01 trillion, with block deals contributing over VND1.5 million. Notably, agricultural firm HNG saw more than 69 million shares worth VND995 billion changing hands.

VIC closed the day up 1.6% at VND111,900 per share while its subsidiary VHM picked up 1.1% at VND90,000. They made the most positive contribution to the VN-Index

Some blue chips such as steelmaker HPG and mobile phone retailer MWG recovered. Other major stocks, such as gas firm GAS and brewer SAB, added 2.3% and 1% at VND108,600 and 243,000 per share, respectively.

In contrast, alongside the falls in bank stocks, dairy firm VNM led the laggards as it lost 2.6% at VND129,600. However, its transactions were active with 1.42 million shares traded.

Construction firm ROS led the southern market by liquidity with more than nine million shares changing hands, but it fell by a slight 1.6% to close the day at VND31,000. Property firm FLC, an associated company of ROS, ranked second by liquidity with matching volume of over six million shares, down 1.8% at VND4,800.

Speculative stocks such as infrastructure developer PPI and rubber producer VHG edged up steadily to their ceiling prices.

On the Hanoi Stock Exchange, the HNX-Index closed down 0.23% versus the session earlier at 105.63 points. The market saw 31.2 million shares worth nearly VND366 billion traded, up 31.8% and 70.7%, respectively.

Among the top 10 stocks by market capitalization on the northern bourse, lender ACB, industrial firm VCS and construction firm VCG were down.

On the other hand, detergent and chemical firm DGC, insurer PVI and petroleum technical service firm PVS gained 4.2%, 3.7% and 2.2% at VND37,500, VND41,800 and VND22,800. PVS took the lead by liquidity with 3.25 million shares transacted.

« Go Back