Business

Strong purchase drives shares up

Vietnamese shares posted a strong comeback on February 23 following the previous day’s slump, thanks to strong cash flow which poured into the blue-chips, especially during the ATC session.
Strong purchase drives shares up ảnh 1Brokers monitor stock orders at the FPT Securities JSC office in Hanoi (Photo: VNA)
Hanoi (VNA) - Vietnamese shares posted astrong comeback on February 23 following the previous day’s slump, thanks to strong cashflow which poured into the blue-chips, especially during the ATC session.
The benchmark VN-Index on the Ho Chi MinhStock Exchange (HOSE) gained 2.49 percent to close at 1,102.85 points. It haddropped 1.02 percent to finish at 1,076.03 points on February 22.

The HNX Index on the Hanoi StockExchange (HNX) rose 1.24 percent to end at 126.24 points. The index had edgeddown 0.92 percent to end the session at 124.70 points on the previous day.

The UPCOM Index on the UnlistedPublic Company Market (UPCoM) inched up 0.43 percent to finish at 59.56points. It lost 0.15 percent to finish at 59.28 points in the previoussession.

More than 247.69 million shares weretraded on the three local exchanges, worth 7.1 trillion VND (311.9 million USD).

Financial-banking and oil stockswere the best-performing among the 20 sectors in the stock market, with thebanking and energy industry indices jumping 4.35 percent and 4.88 percent,respectively, according to vietstock.vn.

Market trading conditions turnedpositive on February 23, with 419 gaining stocks against 232 decliners, while 794other stocks remained unchanged.
Large-cap stocks also had a goodtrading day, as 29 of the 30 largest shares by market capitalisation advancedin the VN30 Index.

The VN30 Index was up 2.81 percentto 1,034.76 points, with more than 60 million shares exchanged, worth 3.03trillion VND.

Blue chip stocks were in strongdemand and pulled up the VN-Index, as well as the VN30, especially in the ATCsession. Banking (MBB, CTG increasing and VCB reaching the ceiling price) andpetroleum (PVS, GAS increasing and PVD reaching the ceiling price) were thelargest contributing sectors.

Foreign investors were net sellersof 258.26 billion VND on HOSE. In addition, they also sold a net of50.09 billion VND on the HNX.

According to BIDV Securities Co(BSC), investors may consider increasing their stock proportion in the pillarstocks of the market, because these stocks are attracting major cash flows inthe market. -VNA

VNA
#Vietnamese shares #strong comeback #blue-chips #ATC session #benchmark VN-Index #Ho Chi Minh Stock Exchange (HOSE) #HNX Index on the Hanoi Stock Exchange #UPCOM Index #best-performing #Financial-banking and oil stocks #Vietnam News Agency #Vietnamplus
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