VN-Index closes higher on bullish sentiment

Stocks on Ho Chi Minh City Stock Exchange maintained rising momentum for another day, sending Vietnam’s benchmark VN-Index to a five-month high on February 23 as bullish sentiment prompted investors to buy shares heavily.

The measure of 302 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange grew 1.31 per cent, or 5.48 points, to close at 423.89 points, the highest level since October 3, 2011, with 198 gainers, 62 losers, and 47 stocks remaining unchanged.

Trading on the city bourse surged by 21 per cent in volume, and 28 per cent in value over the previous trading session as around 66.72 million shares changed hands at a total value of VND946 billion.

Military Commercial Joint Stock Bank (MBB) won the first place in the race for the spot of most active share in volume with 5.79 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, chased after with 2.97 million shares traded.

Ocean Group Joint Stock Company (OGC) followed with 2.81 million shares.

Winners on the southern trading floor today included Ben Tre Forestry & Aqua Product Import Export Joint Stock Company (FBT), Interfood Shareholding Company (IFS), Petro Vietnam Finance Joint Stock Corporation (PVF), Vietnam Electricity Construction Joint Stock Corporation (VNE), and Saigon Beverages Joint Stock Company (TRI). All accelerated 5 per cent to close at VND6,300, VND4,200, VND10,500, VND4,200, and VND2,100 respectively.

Pomina Steel Corporation (POM) extended its winning streak to five consecutive trading sessions, mounting 4.96 per cent to close at VND12,700.

HUD1 Investment & Construction Joint Stock Company (HU1) and Licogi 16 Joint Stock Company (LCG) built up 4.95 per cent to close at VND10,600.

Cuu Long Pharmaceutical Joint Stock Corporation (DCL) dived 16.67 per cent to finish at VND13,000.

Duc Thanh Wood Processing Joint Stock Company (GDT) plummeted 8.88 per cent to close at VND15,400.

South Vietnam Container Shipping Joint Stock Company (VSG) shrank 6.25 per cent to close at VND1,500.

The VN30 Index gained 5.43 points, or 1.15 per cent, to end at 476.4. Among its 30 members, 25 stocks rallied, 2 declined and 3 closed unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north hurdled 1.64 per cent, or 1.08 points, to close at 66.78 points. Around 76.73 million shares changed hands at a total value of VND672.54 billion.

Meanwhile, the UPCoM-Index of unlisted shares stood at 34.75 points at 11.30 am local time. A total of 5,133,979 shares were traded at VND250.64 billion.

By Thuy Doan

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