Blue-chips paint the town red

February 02, 2012 | 15:48

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The stock market suddenly soared Thursday, with investors strongly cashing in on blue-chips included in stock basket of the benchmark VN30.

The new benchmark VN30, built by Ho Chi Minh Stock Exchange (HoSE), will be launched tomorrow. It is a new measure for the 30 leading blue-chips on the Vietnamese market.

The VN-Index soared to 10.94 points or 2.8 per cent against the previous session.

Large-cap stocks, particularly the ones in the VN30, led the gainers throughout the session. Eximbank (EIB) surprised the market as it outperformed with 5.7 million shares matched, ending at the ceiling price of VND15,700.

Military Bank (MBB), Saigon Securities Inc. (SSI), Vietcombank (VCB), Vietinbank (CTG), Refrigeration Electrical Engineering Corp. (REE), along with Ocean Group (OGC), Hoang Anh Gia Lai (HAG) massively hit the ceiling.

Most other major stocks hit the ceiling or nearly hit the ceiling. PetroVietnam Finance (PVF) and Tan Tao Investment Industry Corp. (ITA) were strongly bought, with large bidding orders volumes at ceiling price outstanding at the close.

Mid-cap and small-caps also tracked a strong gain. Up to 211 stocks advanced on the main bourse, among them 125 hit the ceiling. Just a small part of 49 stocks were off and 46 unchanged.

The buyers aggressively cashed in the market. Along with the price hike, liquidity continuously increased hitting 44 million shares worth as high as VND715.3 billion ($34.6 million) today. Put-through volume kept at 4.8 million shares worth VND153.3 billion ($7.4 million).

“Cash flows moved in a positive manner this morning. The buyers proved confident about the market outlook. High-liquid stocks included in VN30’s stocks basket continued to be priority for investors,” said FPT Securities.

In line with the gain of HoSE, the Hanoi Stock Exchange (HNX) saw the benchmark HNX-Index up 2.1 points or 3.47 per cent to 62.57 points. Major stocks also led the gainers on the northern bourse.

Kim Long Securities (KLS) outperformed with 4.3 million shares, followed by VNDirect Securities at 2 million shares.

Trading volume reached 32.7 million shares worth VND274.4 billion ($13.2 million) on the bourse. As high as 253 stocks gained, overwhelming 47 off and 93 unchanged. Among them, 159 stocks hit the ceiling.