VN-Index struggles to maintain rising trend

Vietnam’s benchmark VN-Index climbed the second day on April 17; however, rising momentum weakened as investors sold shares to take profits.

The gauge of 305 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange grew 0.98 per cent, or 4.58 points, to close at 472.84 points, with 197 gainers, 70 losers, and 43 stocks remaining unchanged.

Trading on the city bourse rose by 31.6 per cent in volume and 48 per cent in value over the previous trading session as 118.09 million shares changed hands at a total value of VND2.01 trillion.

Military Commercial Joint Stock Bank (MBB) was most active share in volume with 5.19 million shares changing hands.

Sacombank Securities Joint Stock Company (SBS) won second rank with 3.98 million shares.

Saigon Securities Inc. (SSI), the country’s largest brokerage, came next with 3.67 million shares traded.

Big gainers on the city bourse today included Saigon Securities Inc. (SSI), Thu Duc Housing Development Corporation (TDH), and Vietnam Electricity Construction Joint Stock Corporation (VNE). They all jumped 5 per cent to close at VND23,100, VND18,900 and VND6,300 respectively.
Petro Vietnam Drilling & Well Services Corporation (PVD) grew 4.98 per cent to close at VND42,200.

Hoa Sen Group (HSG) and Kinh Bac City Development Share Holding Corporation (KBC) both rallied 4.97 per cent to close at VND16,900.

Truong Long Auto & Technology Joint Stock Company (HTL) reversed 5 per cent to close at VND7,600.

Ocean Group Joint Stock Company (OGC) and Saigon Vien Dong Technology Joint Stock Company (SVT) both slid 4.94 per cent to close at VND15,400 and VND7,700 respectively.

Vietnam Sun Corporation (VNS) sank 4.93 per cent to close at VND27,000.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – escalated 4.96 points, or 0.92 per cent, to end at 544.13. Among its 30 members, 15 stocks advanced, 11 retreated and 4 remained unmoved.

Meanwhile, Hanoi’s HNX-Index of the smaller bourse in the north went down 0.57 per cent, or 0.46 points, to close at 79.91 points, with 153 winners, 125 losers, and 75 stocks treading water. More than 105.99 million shares changed hands at a total value of more than VND1.22 trillion.

The UPCoM-Index of unlisted shares rose 0.86 per cent, or 0.3 points, to close at 35.22 points. A total of 243,100 shares changed hands at VND1.3 billion.

By Thuy Doan

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