Blue-chips a tasty treat

February 08, 2012 | 17:00

(0) user say

Blue-chips led the market soaring again Wednesday, with no stocks included in the VN30 ending lower.

The benchmark of blue-chips VN30 boosted 11.67 points or 2.6 per cent to 460.98 points, after up to 10 stocks involved hitting the ceiling. Among them, real estate stocks Tan Tao Investment Industry Corp. (ITA), Ocean Group (OGC), Becamex Infrastructure Development (IJC) all had more than one million shares traded each.

Besides, 18 blue-chips jumped with Eximbank (EIB), Sacombank (STB), Military Bank (MBB) and Saigon Securities Inc. (SSI) active the most. Pillar stocks Masan Group (MSN) and Vinamilk (VNM) just slightly added, while Vincom Corp. ended flat.

Helped by those leading stocks, the VN-Index of Ho Chi Minh Stock Exchange (HoSE) gained up to 8.45 points or 2.11 per cent to 409.53 points. Mid-cap and small-cap stocks tracked the major stocks’ gains, pushing the 190 climbing stocks. Just 55 stocks were lower.

Cash continued to fly into the market, despite increasing selling pressures. Liquidity accelerated to 44.6 million shares worth VND638.71 billion ($30.9 million) on the HoSE, among them up to VND376.75 billion ($18.2 million) flew into stocks basket of VN30.

Foreigners continued increasing their buying. Some 7.1 million shares, mainly SSI, Sacombank (STB), Vietcombank (VCB) were bought today.

Today’s strong increase was despite warnings among analysts about a bull-trap. While banking liquidity remained tense, concerns about unidentified banks to be merged still weigh on the financial market.

“Caution is always necessary given the market upward trend is not tracking the macroeconomic situation at all,” said Vietcombank Securities.

Put-through volume lowered to 3 million shares worth VND59 billion ($2.9 million).

On the Hanoi Stock Exchange (HNX), exciting sentiment also helped most stocks increasing. Some 206 stocks gained, overwhelming 66 off and 134 unchanged. The benchmark HNX-Index advanced 1.21 points or 1.94 per cent to 63.74 points.

Liquidity jumped to 41 million shares worth VND370 billion ($17.8 million). Offering orders were continuously matched. Speculative cash strongly flew in low-price stocks like Hanoi Investment General Corp. (SHN), Orient Securities (ORS), PetroVietnam Construction (PVX), Vietnam Construction and Import-Export (VCG).