Vinamilk drives up the VN-Index

Investors at the Tan Viet Securities Corporation’s trading floor in Hanoi (Photo: VNA)

Hanoi (VNA) - Shares closed the week on a positive note as large caps, especially Vinamilk, extended gains on the two national stock exchanges.

The VN-Index increased by 7.8 points, or 0.91 percent, to close on November 10 at 868.21 points on the HCM Stock Exchange. The benchmark index has expanded 3 percent this week.

On the Hanoi Stock Exchange, the HNX-Index edged up 0.48 percent to end at 106.37 points. The northern market index has increased 2 percent this week.

The highlight was Vinamilk (VNM) which hit the daily limit rise of 7 percent on the day that the State Capital Investment Corporation (SCIC) made public the sale of 48.3 million shares of Vinamilk, an equivalent of 3.33 percent of the dairy firm’s capital on November 10.

Over nine million VNM shares were traded at the price of 173,800 VND (7.66 USD) per share, a record high in its trading history. Of which, foreign traders purchased a net 6.58 million shares worth 1.04 trillion VND, accounting for nearly 89 percent of total foreign net buy value of nearly 1.2 trillion VND on November 10 in HCM City.

As the biggest listed stock by market value, Vinamilk’s growth contributed nearly 77 percent of the VN-Index’s rise on the day.

Other blue chips also rose, supporting the market. Nineteen of the top 30 largest shares by market value and liquidity on the HCM City’s bourse advanced and only seven declined.

Substantial gainers included sugar maker Thanh Thanh Cong Tay Ninh JSC(SBT), up 7 percent; Binh Minh Plastics (BMP), up 4.5 percent; Vietinbank (CTG), up 3.6 percent; and Sacombank (STB), up 2.2 percent.

Overall liquidity increased with a total of 227.6 million shares worth a combined 6.5 trillion VND (286.3 million USD) traded in the two markets, up 15.4 percent in volume and 27.5 percent in value compared to the previous session.-VNA

VNA