Shares rise for four consecutive sessions

Shares rose for the fourth consecutive session on Tuesday with an improvement of liquidity, largely on the strength of a handful of banking and individual blue-chips.-VNA/VNS Photo

The benchmark VN-Index on the HCM Stock Exchange was up 1.12 per cent to close at 921.27 points. It gained 3.1 per cent during the past four sessions.

The HNX Index on the Hanoi Stock Exchange added 1.65 per cent to end at 104.83 points. The index had increased a total of 6.4 per cent over the last four sessions.

Market trading liquidity showed improvement with some 189.3 million shares being traded on the two local exchanges, worth VND4 trillion (US$176 million).

Market trading conditions were quite positive on Tuesday, with 170 declining stocks against 266 gainers, while 304 other stocks remained unchanged.

Cash flow drove up 18 of the 20 sectors on the stock market. Key industries that saw share prices increase included banking-financial, securities, retail and real estate, data on vietstock.vn showed.

The VN30 Index, which tracks the 30 largest shares by market capitalisation, was up 1.26 per cent to end at 915.53 points.

VN30 basket’s three new members of VPBank (VPB), Vincom Retail (VRE) and jewelry producer Phu Nhuan (PNJ) were among the best performers, up at least 4 per cent.

Bank stocks were the darlings of the market on Tuesday, with JSC Bank for Investment and Development of Việt Nam (BID), Techcombank (TCB), Vietinbank (CTG), Military Bank (MBB) and VPBank (VPB) rising between 1.6 per cent and 6.7 per cent, driving the whole market up.

Two giants in the securities sector, Ho Chi Minh City Securities Corporation (HCM) and VNDirect Securities Corporation (VND), also saw share prices shooting up by 3.4 per cent and 3.6 per cent, respectively.

Two seafood processors Vinh Hoan Corporation (VHC) and Sao Mai Group Corporation (ASM) unexpectedly closed at the ceiling price, hitting the daily limit rise of 7 per cent.

Two real estate developers, Đất Xanh Group JSC and LDG Investment Joint Stock Company, also hit the daily limit rise of 7 per cent.

The UPCOM Index on the Unlisted Public Company Market (UPCoM) gained 0.25 per cent to finish at 49.42 points. It rose 0.06 per cent on Monday.

According to Bao Viet Securities Company, bottom fishing demand increased sharply at the end of the session, focusing on large-cap stocks.

However, BIDV Securities Company said in its daily report that the market rally on Tuesday was not a very strong recovery signal due to the waiting sentiment for supporting information from Q2 business results, investors should trade carefully.