The benchmark VN-Index gained new momentum as blue chips continued to advance during July 27's afternoon session.
Onthe HCM Stock Exchange, the VN-Index added 0.67 percent to close thesession at 634.46 points. The VN30, which tracks the top 30 shares bymarket value and liquidity, climbed 1.17 percent to end at 665.66points.
According to several analysts, the market will likely seeseveral short-term rallies before advancing into a long-term uptrend,and will be led by several groups of stocks.
Previous rallies were propped up by oil and gas shares, recent growth had banks, securities brokers and insurers to thank.
Manylarge-cap shares, not only from the VN30, including software giant FPTCorp (FPT), steelmaker Hoa Phat Group (HPG), confectionery Kinh Do Corp(KDC), Refrigeration Electrical Engineering Corp (REE) and logisticsGemadept (GMD) supported the market. They all increased 2-3 percenteach.
Traders expect HPG's growth will continue in the comingsessions after the corporation adjusted its profit target upwards for2015 on July 27. HPG added another 1 trillion VND (45.9 million USD) toits original goal of 3.2 trillion VND (146.8 million USD) and raised itsdividend rate from 20 to 30 percent.
Banks and securitiescompanies maintained their up trend, especially Saigon Securities Inc(SSI) and HCM Securities Co (HCM), which climbed over 4 percent and 3.7percent, respectively.
SSI was the most active in HCM City on July 27 with 8.2 million shares traded, settling at 28,300 VND (1.30 USD) a share.
Sacombank (STB), Vietcombank (VCB), BIDV (BID) and Vietinbank (CTG) also closed in the green.
Overallliquidity improved as the market volume was up 10 percent over theprevious session, totaling 124 million shares. Trade value grew 20percent overall to reach 2.55 trillion VND (117 million USD).
On the Hanoi Stock Exchange, the HNX-Index edged up 0.21 percent to finish at 86.50 points on July 27.
The market condition was neutral with 93 stocks rising, 94 declining and 174 closing flat.
Almost48 million shares worth 661 billion VND (30.3 million USD) wereexchanged by the end of the session. It was a 10 percent rise in volumeand 20 percent rise in value over July 24.
Saigon Thuong TinReal Estate Co (SCR) continued as the most heavily-traded stock with 3.4million shares traded on July 27, ending unchanged at 8,800 VND ashare.
Foreign investors were net sellers in HCM City on July 27,responsible for a net sell value of nearly 32 billion VND (1.5 millionUSD). They were, however, net buyers in Hanoi's market, picking upcombined shares worth 27 billion VND (1.2 million USD).-VNA
Onthe HCM Stock Exchange, the VN-Index added 0.67 percent to close thesession at 634.46 points. The VN30, which tracks the top 30 shares bymarket value and liquidity, climbed 1.17 percent to end at 665.66points.
According to several analysts, the market will likely seeseveral short-term rallies before advancing into a long-term uptrend,and will be led by several groups of stocks.
Previous rallies were propped up by oil and gas shares, recent growth had banks, securities brokers and insurers to thank.
Manylarge-cap shares, not only from the VN30, including software giant FPTCorp (FPT), steelmaker Hoa Phat Group (HPG), confectionery Kinh Do Corp(KDC), Refrigeration Electrical Engineering Corp (REE) and logisticsGemadept (GMD) supported the market. They all increased 2-3 percenteach.
Traders expect HPG's growth will continue in the comingsessions after the corporation adjusted its profit target upwards for2015 on July 27. HPG added another 1 trillion VND (45.9 million USD) toits original goal of 3.2 trillion VND (146.8 million USD) and raised itsdividend rate from 20 to 30 percent.
Banks and securitiescompanies maintained their up trend, especially Saigon Securities Inc(SSI) and HCM Securities Co (HCM), which climbed over 4 percent and 3.7percent, respectively.
SSI was the most active in HCM City on July 27 with 8.2 million shares traded, settling at 28,300 VND (1.30 USD) a share.
Sacombank (STB), Vietcombank (VCB), BIDV (BID) and Vietinbank (CTG) also closed in the green.
Overallliquidity improved as the market volume was up 10 percent over theprevious session, totaling 124 million shares. Trade value grew 20percent overall to reach 2.55 trillion VND (117 million USD).
On the Hanoi Stock Exchange, the HNX-Index edged up 0.21 percent to finish at 86.50 points on July 27.
The market condition was neutral with 93 stocks rising, 94 declining and 174 closing flat.
Almost48 million shares worth 661 billion VND (30.3 million USD) wereexchanged by the end of the session. It was a 10 percent rise in volumeand 20 percent rise in value over July 24.
Saigon Thuong TinReal Estate Co (SCR) continued as the most heavily-traded stock with 3.4million shares traded on July 27, ending unchanged at 8,800 VND ashare.
Foreign investors were net sellers in HCM City on July 27,responsible for a net sell value of nearly 32 billion VND (1.5 millionUSD). They were, however, net buyers in Hanoi's market, picking upcombined shares worth 27 billion VND (1.2 million USD).-VNA
