Shares closed yesterday’s trade on a positive note on the two national stock exchanges as the banking, securities and steel sectors continued to support the market (Photo: vneconomy.vn) Hanoi (VNS/VNA) -Shares closed on October 10 on a positive note on the two national stockexchanges as the banking, securities and steel sectors continued to support themarket.
The VN-Index on the Ho Chi Minh Stock Exchange edged up 0.14 percentto close at 808.96 points. Vietnam’s key stock index increased just 0.4 percentlast week.
On the Hanoi Stock Exchange, the HNX-Index also picked up0.71 percent to end at 108.75 points, expanding last week’s gain of 0.3 percent.
The market has continued its uptrend on the two exchanges butmoved sideways with alternate ups and downs in recent weeks.
Financial and steel stocks remained buoyant and the main supporterfor the market, while construction and building materials, oil and gas andhealthcare were the main factors on the downside.
“The market fluctuation with the differentiation of stocks andsectors showed that the general investment sentiment is mixed ahead of thirdquarter business results,” analysts at BIDV Securities Co wrote in a note.
[Derivatives market vibrant in September]
The banking sector showed positive results. All 10 listed banksgained value on the two exchanges, of which the Big Four (including fourlargest banks by market value and total assets) – Vietcombank (VCB), Vietinbank(CTG), BIDV (BID) and Military Bank (MBB) – perked up by less than 1 percent.
In addition, good prospects for the steel sector also helpedleading companies such as Hoa Phat Group (HPG), Hoa Sen Group (HSG) and POMSteel Corp (POM) rally. HPG and POM increased by over 1 percent while HSGinched up 0.2 percent.
Big securities companies, including Saigon Securities Inc (SSI),HCM Securities (HCM), VNDirect Securities (VND), MB Securities (MBS) and Sai Gon-HanoiSecurities Co rose between 0.6-5 percent.
On the defensive side, the biggest stocks that weighed on themarket included VinGroup (VIC), down 1.1 percent; Petrolimex (PLX), down 0.8 percent;PetroVietnam Drilling and Well Services (PVD), down 1.1 percent; and PV Gas(GAS), down 0.4 percent.
According to Bao Viet Securities Co, sideways movement may stillbe seen in coming sessions but with the upcoming third-quarter earnings resultsof some listed companies, the market is unlikely to tumble in the short term.
Liquidity was positive with a total of over 226 million sharesworth a combined 4.4 trillion VND (194 million USD) being traded in the twomarkets, up 32.2 percent in volume and 42 percent in value compared to last week’sdaily trading.-VNA
VNA
