HoSE enters week with smile on its face

The VN-Index of the Ho Chi Minh Stock Exchange (HoSE) gained 4.57 points, or 1 per cent, to 461.68 points, after falling to nearly 450 points earlier in the session.

Blue-chips largely rallied at the session’s end, among them FPT Corp. (FPT), PetroVietnam Fertilisers (DPM), PetroVietnam Drilling and Well Services (PVD) and Hoang Anh Gia Lai (HAG) hitting ceiling.

“The 450 point level proved a strong supporting level for the market. When the index approached that level, demand for shares immediately rose,” said FPT Securities.

Some 163 stocks ended higher, while 64 were off and 74 unchanged on the southern bourse.

Becamex Infrastructure Development (IJC) had a dramatically active session with 5.2 million shares traded, after the ETF fund Market Vectors Vietnam added he shares to its portfolio late last week.

The stock climbed 1.82 per cent, closing at VND11,200.

Pillar stocks Masan Group (MSN) significantly gained, while Bao Viet Holdings (BVH) hit the floor.

Liquidity reached 46.6 million shares worth VND1.37 trillion ($66.8 million) on the bourse, helped by put-through volumes strongly rising.

The Hanoi Stock Exchange (HNX) added 1.13 points or 1.51 per cent to 76.01 points, after falling significantly during the session.

Driving stocks including Kim Long Securities (KLS), VnDirect Securities (VND), PetroVietnam Construction (PVX) and Vinaconex (VCG) modestly added 2-3 per cent.

Liquidity significantly fell due a demand-supply imbalance, as sellers offered at high prices, while buyers asked for low ones. Total volume fell some 19 per cent to 38 million shares worth VND439.49 billion ($21.4 million).

KLS outperformed the market with more than four million units matched, followed by VND and PVX.