Investors during a trading session at MB Securities Company (Photo: VNA) Hanoi (VNS/VNA) -Vietnamese shares recovered on February 2 after dipping for two consecutivesessions, due to strong investor interest in large-cap stocks that led themarket upturn on expectations of good earnings reports.
The benchmark VN-Index on the HCM Stock Exchange gained 0.49 percent to closeat 1,105.04 points.
It had inched down 0.98 percent in the last two sessions, closing at 1,099.67points on February 1.
The minor HNX Index on the Hanoi Stock Exchange also inched up 0.67 per cent toend at 123.97 points.
The northern market index dropped 3.33 percent in the last two sessions, endingat 123.15 points on February 1.
The UPCOM Index on the Unlisted Public Company Market (UPCoM) lost 0.59 percentto finish at 58.84 points, retreating from a fall of 0.27 percent in theprevious session.
More than 271.1 million shares were traded on the three local exchanges, worth 7.1trillion VND (315 million USD).
The colour green returned to the market yesterday. Gaining stocks outnumbereddeclining ones by 327 to 306, while 209 other stocks ended flat.
Large-cap stocks performed well, as 19 of the 30 largest stocks by marketcapitalisation in the VN30 Index increased, pulling the large-cap index up 0.32percent to 1,090.40 points.
Among the best gainers in the VN30 basket was Bao Viet Holdings (BVH), up 2.3percent; Hoa Phat Group Joint Stock Company (HPG), gaining 0.2 percent; VietnamDairy Products Joint Stock Company (VNM), moving up 2 percent; as well as SaiGon Beer-Alcohol-Beverage Corporation (SAB), increasing 0.8 percent.
The blue-chips of banking, aviation and brokerage sectors recovered.
Booming stocks in the banking sector, such as Vietcombank (VCB), VietnamProsperity Joint Stock Commercial Bank (VPB) and Military Commercial JointStock Bank (MBB), were up 1.2 percent, 3.83 percent and 0.98 percent,respectively.
The brokerage sector was backed by Sai Gon Securities Incorporation (SSI),VNDirect Securities Corporation (VND), Viet Capital Securities Joint StockCompany (VCI), up 1.59 percent, 2.3 percent and 0.23 percent, respectively.
Many large-cap stocks in the Unlisted Public Company Market (UPCoM) increased,including two carriers Airports Corporation of Vietnam (ACV), up 2.3 percent,and Vietnam Airlines JSC (HVN), edging up 1.92 percent.
According to BIDV Securities JSC (BSC), the market will accumulate in theupcoming sessions.
“Investors should limit trading at the floor or ceiling price. Besides,investors should observe the market carefully and wait for capital to return,”BSC said.
Analysts at Bao Viet Securities Co (BVSC) said in the company’s daily reportthat they believe the index would rise early next week.
However, the price line may still fluctuate in the 1090-1130 threshold nextweek.
“The upcoming week-long holiday can put short-term profit-taking pressure onsome groups of stocks, thereby causing some volatility with alternatecorrections in the next sessions,” they said in the report.-VNA
