Shares up again on late buying
Shares extended gains for a third session on both local exchanges on June 13, driven by investors’ purchasing large-cap stocks.
Investors watch stock movements at ACB Securities Company in Hanoi. (Photo: VNA)Hanoi (VNA) - Shares extended gains for a third session on both local exchanges on June 13, driven by investors’ purchasing large-cap stocks.
The benchmark VN Index on the HCM Stock Exchange added 0.53 percent to close at 778.30 points, making three-day gains of 1.5 percent.
The HNX Index on the Hanoi Stock Exchange inched up 0.20 percent to end at 100.76 points. The northern market index has increased by 0.4 percent over the last three sessions.
More than 261.5 million shares were traded on both local bourses, worth 4.17 trillion VND (185.2 million USD).
Thursday’s trading figures increased by 12.7 percent in volume and 0.8 percent in value from the previous session.
Shares of large-cap companies continued to perform well with 20 of the 30 largest stocks by market capitalisation gaining.
Among 20 industries on the stock market, those that posted highest growth rates on Thursday included insurance, agriculture, banking and food and beverage sectors.
Leading stocks in those industries that rose included agriculture firms Hoang Anh Gia Lai Group (HAG) and HAGL Agrico (HNG), Thanh Thanh Cong Tay Ninh Sugar Co (SBT), lenders BIDV (BID) and Vietinbank (CTG) and insurance-finance group Bao Viet Holdings (BVH).
On the opposite side, brokerages and plastic and rubber producers weighed the market down before investors scooped up stocks late.
Shares of securities companies continued to underperform, including BIDV Securities (BSI), Viet Capital Securities (VCI), HCM City Securities (HCM) and FPT Securities (FTS).
Energy stocks were a major factor pushing the market up on July 12 but were mixed on July 13 after oil prices fell.
Saigon-Hanoi Securities (SHS) said in its daily report that the market struggled most of the July 13 session and only moved up on investors’ late purchases of large-cap stocks.
Though having risen for three consecutive sessions, the recovery of the stock market is not steady at the moment as market trading liquidity rose slightly, SHS said.
The VN Index will have a chance to test its recovery against the level of 780 points on Friday and investors should be aware of strong selling as the benchmark approaches this level, it added.-VNA
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