Penny stocks help lift market

Increased buys in penny stocks helped lift stock indices on Nov. 18, with the VN-Index closing at 430.72 points, a gain of 1.2 percent.
Increased buys in penny stocks helped lift stock indices on Nov. 18, with the VN-Index closing at 430.72 points, a gain of 1.2 percent.

Overall, the volume of trades on the HCM City Stock Exchange remained steady at 34 million shares, worth a total of 681.3 billion VND (32.4 million USD).

Cotec Construction (CTD), HCM City Metal (HMC) and Mien Trung Petroleum Construction (PXM) were among penny stocks that rose to the top of their 5-per-cent regulated trading bands.

Four of the 10 leading shares by capitalisation also managed gains, including Hoang Anh Gia Lai (HAG), up 4.76 percent; Phu My Fertilisers (DPM), up 3.88 percent; Hoa Phat Group (HPG), up 1.64 percent and software producer FPT, up 0.73 percent.

Sacombank (STB), the most-active share on the bourse on a volume of 2.5 million, closed off by 1.41 percent.

On the Hanoi Stock Exchange, the HNX-Index rose by an even more impressive 2.93 percent, poking its nose back above its basic level to close at 100.59 points.

The value of trades, however, remained meagre, at 482.5 billion VND (23 million USD), on a volume of 28.3 million shares.

PetroVietnam Construction (PVX) – the most-active share with 3.1 million traded – was among nine of Hanoi's top blue chips to post gains on the day. /.

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