Profit-taking prevents VN-Index from rising high

The Vietnam’s benchmark VN-Index slightly rose on April 26 as investors sold heavily to book profits.

The shares of 214 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange edged up 0.36 percent, or 1.9 points, to finish at 531.21. Around 69.6 million shares, worth VND2.61 trillion, changed hands.

On the city bourse, 86 stocks gained, 112 dropped, and 30 were unchanged.

Lam Dong Mineral and Building Material Joint Stock Company (LBM), Lu Gia Mechanical Electric Joint Stock Company (LGC), and Petrovietnam Finance Joint Stock Corporation (PVF) led the big gainers on the southern bourse. They all closed up the daily maximum allowed limit of 5 percent to VND18,900, VND33,600, and VND31,500 respectively.

MT Gas Joint Stock Company (MTG), located in Long An Province, rose by 4.97 percent to VND16,900.

Tan Cang Logistics and Stevedoring Joint Stock Company (TCL) closed at VND48,900, up 4.94 percent.

Saigon Securities Inc. (SSI) topped the list of the most active stock in volume with more than 3.77 million shares. The Vietnam’s largest brokerage surged 2.04 percent to VND45,100.

Pha Lai Thermal Power Joint Stock Company (PPC) came next with 2.67 million shares, followed by Saigon Commercial Bank or Sacombank (STB) with 2.51 million shares.

Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC) lost 7.12 percent to trade at VND33,900.

Construction and Materials Trading Joint Stock Company (CNT) dropped 5 percent to VND34,200. Tran Cong Bao, the company’s deputy general director, registered to sell 33,310 shares from April 27 to June 25, sending his holdings to 5,000 shares, for personal financial demand.

Seafood Joint Stock Company No4 (TS4) finished down 4.95 percent to VND49,900.

Meanwhile, the smaller bourse in the north performed a contrast move as the Hanoi’s HNX-Index fell 1.32 percent, or 2.35 points, to 175.98. Trading volume was at 43.7 million shares, worth VND1.65 trillion.

The UPCoM-Index rose 0.06 percent, or 0.03 points, to 46.72. The over-the-counter market recorded 379,496 shares, worth VND6.1 billion being traded.

By Thuy Doan

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