Market ends with big smiles

April 27, 2012 | 17:00

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Investors suddenly cashed in stocks at the week’s end.

Demand for shares soared in highly speculative stocks with a surprisingly big bidding volume ordered at mineral stocks, led by Tay Bac Minerals Investment (KTB) outperforming Ho Chi Minh Stock Exchange (HoSE). KTB saw 4 million shares matched, hitting the ceiling to VND14,400.

Along with KTB, Binh Dinh Minerals (BMC), Bac Giang Exploitable Mineral (BGM), Binh Duong Mineral and Construction (KSB), Nari Hamico Minerals (KSS) massively hit the ceiling.

Speculative real estate stocks turned head to jump with exciting demand today. Becamex Infrastructure Development (IJC), Binh Duong Trade and Development (TDC), Licogi 16 (LCG), PetroVietnam-Idico Long Son Industrial Park Investment (PXL), Sao Mai Construction Corp. (ASM) all sharply jumped with millions units matched each.

Positive sentiment quickly expanded on the market, boosting as many as 195 stocks up. Just 67 stocks were off and 46 unchanged. The benchmark VN-Index gained 3.56 points or 0.76 per cent to end at 473.77 points, after moving flatly throughout the morning’s trading.

Matching volume significantly improved to 80.1 million shares worth VND1.19 trillion ($57.4 million) on the southern bourse. Total value reached VND1.3 trillion ($62.8 million).

PetroVietnam-family stocks were in demand. PVI Investment and Development (PV2) sharply rose 5.88 per cent, Petro Vietnam Power Land (PVL) 5.97 per cent, PetroVietnam-Nghe An Investment & Trading (PXA) 5.56 per cent and were all of top active stocks. PetroVietnam Technical Services Corp. (PVS) and PetroVietnam Southern Gas (PGS) also ended higher.

Advancers also accelerated to 226 stocks, overwhelming 62 decliners. The benchmark HNX-Index jumped 1.12 points or 1.42 per cent to 79.86 points. Liquidity reached 67.6 million shares worth VND705.9 billion ($34.1 million) on the northern bourse.

“Today’s rise is not confirming with a positive market trend, it just repeated the market model of a month a go - the market rose with mixed moves of stocks, there was not a comprehensive upward trend,” said VNDirect Securities.