Shares ended higher on Wednesday with the VN-Index extending its rally on banking stocks.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 1.15 per cent, or 14.23 points, to finish the trading day at 1,256.43 points. The market breadth was still positive as 330 stocks rose while 93 fell and 33 stocks ended flat.
The southern market index had gained 0.23 per cent to closed Tuesday at 1,242.2 points.
The market liquidity was higher than yesterday with nearly 744.4 million shares traded on the southern market, worth VND21.2 trillion (US$915 million).
The index was boosted by large-cap stocks, mainly in the banking sector. The 30 large-cap stocks tracker VN30-index increased 1.42 per cent to 1,346.89 points. Twenty-five of the 30 biggest stocks in the VN30 basket increased Wednesday while four stocks decreased.
Many big bank stocks posted great performance yesterday with Techcombank (TCB) and HDBank (HDB) leading the gains, up 7 per cent. Military Bank (MBB), Vietinbank (CTG), Sacombank (STB), Vietcombank (VCB) and Asia Commercial Bank (ACB) all jumped.
Some other individual large-caps also made gains such as PetroVietnam Gas JSC (GAS), Vietnam National Petroleum Group (PLX) and SSI Securities Co (SSI), all up more than 2 per cent.
In a daily report to investors, BIDV Securities Co said: "The VN-Index increased gradually from the beginning of the morning session to the end of the afternoon session and is now back above the 1,255 points threshold."
"Investment cash flow increased while foreign investors were net sellers on HoSE and net buyers on HNX. In addition, market breadth turned to a positive status with the liquidity not much different from the previous session.
"In our opinion, the VN-Index may face short-term profit-taking pressure at 1,260-1,280 points as this is the index’s historic peak area," it said.
Foreign investors net sold VND779.63 billion on HOSE, including Hoa Phat Group (HPG) (VND190.8 billion), Vincom Retail (VRE) (VND187.9 billion) and Vietinbank (CTG) (VND172.8 billion). They were net buyers on the HNX with a value of VND15.51 billion.
Meanwhile, on the Ha Noi Stock Exchange (HNX), the HNX-Index rose 1.16 per cent to 280.93 points. The HNX30-Index gained 2.43 per cent to 423.17 points.
The northern market index had fallen 1.43 per cent to close Tuesday at 277.71 points.
During the session, over 134.8 million shares were traded on HNX, worth nearly VND2.8 trillion. — VNS
- ASX poised to rise, S&P 500 extends rally
- Australian shares higher on financial rebound ahead of trade tariff deadline
- Stocks Bounce Back From Edge of Bear Market
- SE Asia Stocks-Most markets fall, Vietnam plunges over 4 pct
- Zimbabwe: Banking Sector Profitable, but...
- Zimbabwe: Capital Bank Liquidation in Limbo
- Egypt shares to resume rally as investors expected to capitalise on cheap valuations
- Page Ind rallies 20% in less than one month after Jockey extends license
- Sensex rallies 305 pts, Nifty50 ends at 10,947; five factors that drove the rally
- US STOCKS-Wall Street set to open lower on domestic growth worries
- Kenya/Tanzania: Kagere Scores Again as Simba, Singida Share Spoils
- Zimbabwe: Thousands Brave Cold for Chamisa Rally, Alliance Leader in Pledge to End Tribalism
Shares extend rally on bank stocks have 508 words, post on bizhub.vn at May 6, 2021. This is cached page on Talk Vietnam. If you want remove this page, please contact us.