Blue chips fire-up HoSE

The benchmark VN-Index of Ho Chi Minh Stock Exchange (HoSE) added 3.82 points or 0.74 per cent today to close at 517.87 points, after nearly falling to 510 points during the session.

The rise was helped by the blue chips, of which Bao Viet Holding (BVH) hit the ceiling to VND95,000,along with PetroVietnam Drilling (PVD) and PetroVietnam Finance (PVF) strongly performing.

Vietinbank (CTG) climbed 3.61 per cent, while Vietcombank (VCB) added1.1 per cent and Hoang Anh Gia Lai Group (HAG) 1.82 per cent.

Eximbank (EIB) and Sacombank, however, dropped with declines of 0.65 per cent and 1.27 per cent respectively.

The decliners still strongly outran the advancers 144 to 67 on the HoSE, with 17 hitting the floor while just eight hitting ceiling, despite the benchmark’s advancing.

While the market is eyeing possible power price adjustments, power stocks all slightly declined today after largely hitting ceiling in yesterday’s session.

Given the situation where macroeconomic factors have not stabilised, analysts saw the rise of many sectors as just temporary.

“The rise of power stocks can last for only some sessions thanks to investors’ instant sentiment,” said an analyst with Saigon Securities Inc.

Volume remained low at 34.37 million shares, worth VND825.97 billion ($39.9 million).

The Hanoi Stock Exchange (HNX) ended lower again at 106.65 points, down 0.73 points or 0.68 points. Some 26.2 million shares worth VND452.59 billion ($21.86 million) changed hands.

Major stocks largely fell, among them Habubank (HBB) lost 0.92 per cent and Asia Commercial Bank (ACB) 1.22 per cent.

Real estate stocks Ocean Holding (OCH) and Sacomreal (SCR) dropped 6.55 per cent and 1.11 per cent, respectively.

PetroVietnam Insurance (PVI), PetroVietnam Services (PVS) and PetroVietnam Construction (PVX) were among the decliners.

Up to 217 stocks fell on the HNX compared with 77 up, while 33 ended flat and 47 had no transactions.

Foreigners continued net selling on the HoSE for the fourth straight session, while the trading volume has been reduced, although the net selling value was lower at VND18.07 billion ($872,000).

They focused buying on ITC, DPM, HAG, ITA and SBT.

On the HNX they turned to net selling when buying 390,400 units and selling 467,200. PVX, KLS, VCG and PVS were purchased most while TCS, TDN, OCH and BVS were sold most.