The VN-Index is nearing the 640-point benchmark, as it added another 5points or 0.73 percent on July 15 to close the session at 638.69points.
Profit-taking did not negatively impact on the market.The buying power remained strong among both domestic and foreigninvestors.
Both market volume and liquidity increased 10 percentover the previous day, totalling more than 155 million shares worth 2.86trillion VND (131.2 million USD).
The foreign sectors continuedto pick up another net buy of 69.2 billion VND (3.2 million USD) inshares on the HCM Stock Exchange.
"If foreign investors keepbuying in while the domestic sector maintains current demand, we believethe growing momentum will continue," analysts at KIS Vietnam SecuritiesCo. wrote.
However, they said many large-cap stocks surged into the overbought territory and were exposed to risks of correction.
Bluechips were again the driving force on the market yesterday, as shown inhigh growth of 0.92 percent on the VN30, which tracks the top 30 sharesby market value and liquidity, compared with a 0.73 percent rise of theVN-Index.
Insurers continued their impressive performance withBao Viet Holdings (BVH), BIDV Insurance (BIC) and Bao Minh Insurance(BMI) being traded at or around the ceiling price.
Meanwhile,bank stocks slowed down. Only Eximbank (EIB), BIDV (BID) and Sacombank(STB) sustained growth of 2 to 4 percent each. Military Bank (MBB) andVietcombank (VCB) closed flat while Vietinbank (CTG) tumbled.
Accordingto analysts at BIDV Securities Co., the market will not surge asstrongly as in the previous period. Leading stocks such as banks,securities, and insurers have climbed significantly while foreign netbuying shows signs of weakening in the next sessions.
"Correction may come in the next few sessions," the analysts wrote.
Onthe Hanoi Stock Exchange, the HNX-Index also inched up 0.18 percent toend at 88.74 points as the advancers more than doubled the decliners.
Liquidityalso improved here with 73 million shares worth nearly 895 billion VND(41.1 million USD) traded by the end of the session, up more than 40percent in both volume and value over the previous session's levels.
Foreigners also bought a net value of nearly 25 billion VND (1.2 million USD) worth of shares.
SouthBooks and Education Equipment (SMN) debuted 4.4 million shares,equivalent to a charter capital of 44 billion VND (2 million USD) in theHanoi market. SMN closed the first trading day at 12,000 VND each with1,500 shares traded. This is the ninth new listing share this year and359th stock here.-VNA
Profit-taking did not negatively impact on the market.The buying power remained strong among both domestic and foreigninvestors.
Both market volume and liquidity increased 10 percentover the previous day, totalling more than 155 million shares worth 2.86trillion VND (131.2 million USD).
The foreign sectors continuedto pick up another net buy of 69.2 billion VND (3.2 million USD) inshares on the HCM Stock Exchange.
"If foreign investors keepbuying in while the domestic sector maintains current demand, we believethe growing momentum will continue," analysts at KIS Vietnam SecuritiesCo. wrote.
However, they said many large-cap stocks surged into the overbought territory and were exposed to risks of correction.
Bluechips were again the driving force on the market yesterday, as shown inhigh growth of 0.92 percent on the VN30, which tracks the top 30 sharesby market value and liquidity, compared with a 0.73 percent rise of theVN-Index.
Insurers continued their impressive performance withBao Viet Holdings (BVH), BIDV Insurance (BIC) and Bao Minh Insurance(BMI) being traded at or around the ceiling price.
Meanwhile,bank stocks slowed down. Only Eximbank (EIB), BIDV (BID) and Sacombank(STB) sustained growth of 2 to 4 percent each. Military Bank (MBB) andVietcombank (VCB) closed flat while Vietinbank (CTG) tumbled.
Accordingto analysts at BIDV Securities Co., the market will not surge asstrongly as in the previous period. Leading stocks such as banks,securities, and insurers have climbed significantly while foreign netbuying shows signs of weakening in the next sessions.
"Correction may come in the next few sessions," the analysts wrote.
Onthe Hanoi Stock Exchange, the HNX-Index also inched up 0.18 percent toend at 88.74 points as the advancers more than doubled the decliners.
Liquidityalso improved here with 73 million shares worth nearly 895 billion VND(41.1 million USD) traded by the end of the session, up more than 40percent in both volume and value over the previous session's levels.
Foreigners also bought a net value of nearly 25 billion VND (1.2 million USD) worth of shares.
SouthBooks and Education Equipment (SMN) debuted 4.4 million shares,equivalent to a charter capital of 44 billion VND (2 million USD) in theHanoi market. SMN closed the first trading day at 12,000 VND each with1,500 shares traded. This is the ninth new listing share this year and359th stock here.-VNA
