Banks, oil shares push market up

February 26, 2018 | 17:35

(0) user say

Vietnamese stocks soared on Monday due to strong investor interest in large-cap stocks of the banking and energy sectors, leading to market upturn.

Vietnamese stocks rose on Monday morning on strong purchase for large-cap stocks of the banking and energy sectors

The benchmark VN Index on HCM Stock Exchange surged 2.09 per cent to close at 1,125.95 points. It had gained 2.49 per cent to close at 1,102.85 points on Friday.

The HNX Index on Ha Noi Stock Exchange inched 0.83 per cent to end at 125.21 points. The index rose 1.24 per cent to end at 126.24 points on Friday.

Meanwhile, the UPCOM Index on the Unlisted Public Company Market increased by 0.86 per cent to stand at 60.07 points. It inched 0.43 per cent to finish at 59.56 points on Friday.

More than 207.57 million shares, worth VND5.86 trillion (US$257.5 million), were traded on the three exchanges in the morning trade.

Despite the upward trend, the market was dominated by declining stocks, which outstripped gainers by 234 to 327.

Blue chips continued to perform well as 22 of the 30 largest ones by market capitalisation and liquidity in the VN30 Index increased. The VN30 Index was up 1.58 per cent to end at 1,107.23 points.

Some of the largest energy stocks, such as PetroVietnam Gas Corp, PetroVietnam Drilling and Well Service Corp. and PetroVietnam Technical Service Corp., increased between 4.7 per cent and 5.7 per cent in local trading.

The biggest gainers in the banking sectors were JSC Bank for Investment and Development of Viet Nam, up 2.7 per cent; Bank for Foreign Trade of Viet Nam, increasing 2.2 per cent and Viet Nam Joint Stock Commercial Bank for Industry and Trade (CTG), moving up 3.3 per cent.

The afternoon trading session starts at 1pm.

VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional