Banks and food drive VN stocks hinh anh 1Brokers at MB Securities Company. (Photo: VNA)
Hanoi (VNA) - Vietnamese shares remained upbeat on March 21, driven by banks and food and beverage producers.

The benchmark VN Index on the HCM Stock Exchange inched up 0.2 percent to close at 716.18 points. The southern market index gained a total of 0.8 percent in the last two sessions.

The HNX Index on the Hanoi Stock Exchange advanced 1.2 percent to finish at 90.13 points, extending its rally for a sixth day with a total growth of 3.6 percent.

Market trading liquidity increased from the previous sesion’s level with more than 287 million shares being exchanged, worth 5.32 trillion VND (236.48 million USD).

The banking sector had the strongest growth yesterday, up an aggregate of 2 percent with eight of the nine listed banks making gains.

Asia Commercial Bank (ACB), Bank for Investment and Development of Vietnam (BID) and Eximbank (EIB) jumped 4.6 percent, 3.9 percent and 3.5 percent, respectively.

Other bank stocks rose between 1.1 percent and 2.3 percent, including Vietcombank (VCB), MBBank (MBB), Vietinbank (CTG) and Sacombank (STB).

The food and beverage sector was pulled up by good performance by dairy producer Vinamilk (VNM) and consumer goods producer Masan Group (MSN). VNM added 1.3 percent and MSN increased by 2.6 percent.

The stock market also recorded good gains in other large-cap companies, such as steel maker Hòa Phát Group (HPG), property developer FLC Group (FLC) and Faros Construction Corp (ROS).

FLC surged 6.9 percent on March 21 to extend its gain to a third day with total growth of 8.1 percent. FLC in 2016 recorded a post-tax profit of 987 billion VND.

On the opposite side, southern brewer Sabeco (SAB), PetroVietnam Gas Corp (GAS) and property developer Vingroup (VIC) weighed on the market.

“The VN Index rose at a slower pace at the end of the March 21 session as investors sought profits when the benchmark was near the resistance range of 718-720 points,” Sai Gon-Hanoi Securities Corp (SHS) wrote in its report.

The benchmark index will likely rise on March 22 to test the level of 719 -720 points again, however, sales pressure will increase when the index approaches that range. Investors should be cautious with their investments, SHS said.-VNA