Illustrative image (Source: VNA)
 
Hanoi (VNA) - Shares ended the last trading session of the year on December 30 on a positive note on both local bourses, driven by increasing demand for large-cap stocks during the closing period of the day.

The benchmark VN Index on the HCM Stock Exchange closed slightly up at 664.87 points, totaling a two-day gain of 0.2 percent.

The HNX Index on the Hanoi Stock Exchange finished at 80.12 points, up 0.7 percent from the previous day and 1.6 percent since December 27.

The southern market index has risen 14.8 percent since December 31, 2015, while the northern market index remained nearly flat after one year.

Market trading liquidity surged from the previous sessions of the last trading week with more than 154 million shares being traded across the two bourses, worth 3.24 trillion VND (144 million USD).

That included more than 43.3 million shares, worth 1.13 trillion VND, which were traded via put-through transactions.

The stock market remained negative and quiet most of the time during the last trading session, but investors’ strong demand boosted large-cap stocks in the At The Close Order (ATC) period.

Among the 10 largest shares by market capitalisation, seven advanced, including Saigon Beer-Alcohol-Beverage Corp (SAB), property developer and retailer Vingroup (VIC), private equity firm Masan Group (MSN) and Faros Construction Corp (ROS).

SAB gained 0.4 percent, VIC inched up 0.2 percent, MSN rose 1.4 percent and ROS increased by 1 percent.

The energy sector also contributed to the market’s gains after oil prices rose higher on confidence for a production cut that could begin in early 2017.

Among local energy stocks, PetroVietnam Gas Corp (GAS) added 1.5 percent, PetroVietnam Drilling and Well Services Corp (PVD) and PetroVietnam Technical Services Corp (PVS) advanced 2.5 percent each.

The banking sector was the worst hit among 20 industries on the stock market, as the Bank for Investment and Development of Vietnam (BID) and Eximbank (EIB) dropped 0.7 percent and 6.2 percent, respectively, while Vietcombank (VCB), Asia Commercial Bank (ACB) and Saigon-Hanoi Bank (SHB) ended flat.

The food and beverage industry was driven down by dairy producer Vinamilk (VNM), which fell 2.3 percent. The stock suffered from profit-taking after increasing by 5 percent in the previous three sessions.-VNA