Stock trading at a Sai Gon Securities Incorporation (SSI) Ha Noi branch. (Photo: VNA) Hanoi (VNA) - Shares bounced back on July 5, boosted by strong capital inflows for large-cap stocks.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange ticked up 0.36 percent to close at 778.32 points. The southern market index was down 0.43 percent on July 4.
Overall market breadth was positive with 168 stocks advancing, 111 declining and 58 remaining unchanged.
Eighteen of the top 30 largest shares by market value and liquidity gained value, led by financial and energy stocks.
Securities firms were the biggest gainers, with an average growth of over 2 percent, data on vietstock.vn showed.
The two biggest listed brokerage firms – Saigon Securities Inc (SSI) and HCM Securities Corp (HCM) – increased 0.2 percent and 1.2 percent, respectively.
SSI climbed for a sixth straight day, for a combined 4.9 percent while HCM rose for three sessions in a row with a total growth of 6 percent.
Other smaller firms, including BIDV Securities (BIS) and Vietinbank Securities (CTS), leapt 5.2 percent and 6.9 percent, respectively.
Banks also recovered, with five of six listed banks on the HCM City’s exchange rebounding. Only Military Bank (MBB) continued a downward trend, other banks including Vietcombank (VCB), Vietinbank (CTG), BIDV (BID), Sacombank (STB) and Eximbank (EIB) ticked up between 0.3-1.9 percent each.
The two biggest listed energy firms – PV Gas (GAS) and Petrolimex (PLX) – increased 1.9 percent and 1.6 percent, respectively.
Global oil prices slumped on July 4 after eight straight days of gains. Brent crude futures settled at 49.46 USD per barrel while the US West Texas Intermediate (WTI) crude futures were traded at 46.87 USD a barrel.
Money shifted focus on low-priced shares such as Ocean Group (OGC), Tan Tao Investment and Industry (ITA), Hoang Quan Consulting-Trading-Service Real Estate (HQC), Duc Long Gia Lai Group (DLG) and HAI Agrochem (HAI).
They remained the most five active stocks in the HCM City’s market, with six to 23 million shares traded in each code.
“Buying demand was maintained and turned over among different groups of stocks to keep VN-Index’s uptrend. However, we still forecast that the index is highly likely to decline in the short term,” analysts at Bao Viet Securities Co wrote in a note.
Investors sought new opportunities in shares with solid data and positive earning prospects in the second quarter, which will be gradually announced starting this week.
On the Hanoi Stock Exchange, the HNX-Index climbed for a second day, adding 1.44 percent to end at 101.92 points. The northern market inched up 0.15 percent in the previous session.
A total of 287 million shares worth 4.4 trillion VND (roughly 194 million USD) were traded in the two markets.-VNA
VNA
