Stocks rise on optimistic sentiment

Vietnam’s benchmark VN-Index climbed for two straight trading sessions on March 26 as penny-chip stocks gained ground while buy-side remained optimistic about market prospects.

The gauge of 305 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange sprang 1.14 per cent, or 5.16 points, to close at 459.26 points.

Among the index members, 184 climbed, 75 retreated, while 51 stocks remained unchanged.

Trading volume on the city bourse improved slightly over the previous trading session as 93.97 million shares changed hands at a total value of VND1.28 trillion.

Sacom Development & Investment Corporation (SAM) won the spot of most active share in volume with 5.05 million shares changing hands.

Military Commercial Joint Stock Bank (MBB) dropped to second place with 4.34 million shares.

Vietnam Joint Stock Commercial Bank for Industry and Trade or VietinBank (CTG) ranked third with 3.95 million shares traded.

Big gainers on the city bourse included Beton 6 Corporation (BT6), Viet Nhat Medical Instrument Joint Stock Company (JVC), and Dream House Investment Corporation (DRH).

Tuong An Vegetable Oil Joint Stock Company (TAC) slumped 9.24 per cent to close at VND32,400. The company will pay dividends for the year 2011 to its current shareholders in cash at a ratio of 16 per cent on May 11.

South Vietnam Container Shipping Joint Stock Company (VSG) contracted 5 per cent to close at VND1,900.

Khang An Investment Real Estate Joint Stock Company (KAC) declined for seven consecutive trading sessions, cutting 4.96 per cent to close at VND11,500.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – gained 4.43 points, or 0.86 per cent, to end at 517.27. Among its 30 members, 13 stocks climbed, 12 retreated and 5 remained unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north rallied 0.19 per cent, or 0.15 points, to close at 77.72 points with 269 winners, 55 losers, and 28 stocks treading water. More than 102.96 million shares changed hands at a total value of VND1.03 trillion.

Meanwhile, the UPCoM-Index of unlisted shares went down 0.03 per cent, or 0.01 points, to close at 35.1 points. A total of 989,698 shares changed hands at VND27.51 billion.

By Thuy Doan

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