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Friday, May 14, 2021

Bank stocks attract cash flow, VN-Index bounces back

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HCMC – Bank stocks stole the limelight as they were outstanding cash magnets and made strong gains on September 23 leading the VN-Index on the southern bourse to recover and stay above 910 points at the close.

Among the bank stocks, lender STB reported a matching volume of nearly 24.8 million shares. VPB saw 8.7 million shares changing hands and rose 1.71% to VND23,800. MBB and CTG each recorded more than 6.4 million shares transacted. Also, VCB, BID, and HDB were winners.

Besides this, many big-cap and bluechip stocks reversed course to end higher, contributing to the good performance of the VN-Index.

Specifically, electricity firm POW rose as much as 4% with 12.2 million shares transacted. Brewery company BHN, fuel distributor PLX, and consumer goods producer MSN inched up over 2%.

Stocks rising over 1% included VCB, BID, GAS, CTG, VRE, and VPB. Steelmaker HPG added a mere 0.98% but ranked fourth on the southern bourse by liquidity, with almost 12.6 million shares traded.

Among small and medium stocks, industrial zone developer ITA was a cash magnet as it reported a matching volume of over 13 million shares, becoming the third most actively-traded stock on the HCMC market.

Overall, the benchmark index expanded 6.31 points, or 0.7% against the previous session at 912.5, with 250 winners and 161 losers. Trading volume and value on the southern bourse remained equivalent to those of the session earlier, at 392.5 million shares worth over VND6.4 trillion. Of this, shares traded in block deals contributed VND989 billion to the total value.

On the northern bourse, the HNX-Index received support from largecaps. It increased 0.45 point, or 0.34% versus the previous session at 132.64, with 83 advancers and 64 decliners.

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