Stocks gain ground on bargain hunting

Vietnam’s benchmark VN-Index recovered slightly on February 29 as blue-chip stocks gained ground on belief that market would resume rising trend.

Shares of 303 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange regained 0.34 per cent, or 1.42 points, to close at 423.64 points. The gauge added 9 per cent this month, and 20.5 per cent in the first two months.

144 stocks gained, 102 lost, while 62 stocks remained unchanged on the southern trading floor.

Trading volume on the city bourse rose slightly over the previous trading session as around 125.87 million shares changed hands at a total value of VND2.29 trillion, up 33 per cent.

Military Commercial Joint Stock Bank (MBB) topped the list of most active shares in volume with 6.07 million shares changing hands.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) took second rank with 5.87 million shares traded.

The fifth largest listed lender Vietnam Commercial Joint Stock Export Import Bank or Eximbank (EIB) came in third with 2.62 million shares.

Basa Joint Stock Company (BAS) reclaimed 12.5 per cent to close at VND900.

South Vietnam Container Shipping Joint Stock Company (VSG) emerged 6.25 per cent to close at VND1,700.

Meca Vneco Investment & Electricity Construction Joint Stock Company (VES) rebounded 5.56 per cent to VND1,900.

Cadovimex Seafood Import-Export & Processing Joint Stock Company (CAD) marched south for three-consecutive-trading-session, contracting 11.11 per cent to close at VND800.

Ca Mau Trading Joint Stock Company (CMV) collapsed 6.52 per cent to close at VND21,500.

Saigon Beverages Joint Stock Company (TRI) extended its losing streak to four straight days, closing down 5.56 per cent to close at VND1,700.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange - rose 4.29 points, or 0.89 per cent, to end at 485.18. Among its 30 members, 16 stocks rallied, 11 declined and three closed unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north salvaged 2.37 per cent, or 1.59 points, to close at 68.68 points with 154 winners, 119 losers, and 60 stocks stalled. Around 84.44 million shares changed hands at a total value of VND691.55 billion.

Meanwhile, the UPCoM-Index of unlisted shares capped 0.43 per cent, or 0.15 points, to 34.41 points at 11.30 am local time. A total of 157,767 shares changed hands at VND575 million.

By Thuy Doan

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