Strong purchase drives shares up

Strong purchase drives shares up hinh anh 1

Brokers monitor stock orders at the FPT Securities JSC office in Hanoi (Photo: VNA)

Hanoi (VNA) - 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.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HOSE) gained 2.49 percent to close at 1,102.85 points. It had dropped 1.02 percent to finish at 1,076.03 points on February 22.

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

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

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

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

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

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

Blue chip stocks were in strong demand and pulled up the VN-Index, as well as the VN30, especially in the ATC session. Banking (MBB, CTG increasing and VCB reaching the ceiling price) and petroleum (PVS, GAS increasing and PVD reaching the ceiling price) were the largest contributing sectors.

Foreign investors were net sellers of 258.26 billion VND on HOSE. In addition, they also sold a net of 50.09 billion VND on the HNX.

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

VNA

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