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Thursday, July 29, 2021

Stocks rise on upbeat investor sentiment

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HCMC – Active cash flow buoyed by upbeat investor sentiment prompted the VN-Index of the Hochiminh Stock Exchange to close at its intraday high on February 5.

With winning stocks outnumbering losers by 297 to 134, the main index gained 14.72 points, or 1.32% over the session earlier, at 1,126.91. Trading volume on the southern bourse improved 1.22% at over 529 million shares while value was equivalent to that of the previous session at more than VND12.4 trillion. Block deals contributed nearly VND2 trillion worth of 71 million shares to the overall value.

In the VN-30 basket, only real estate developer NVL shedded 1.6% and refrigeration electrical engineering firm REE closed unchanged, while other stocks ended in positive territory.

Among the winners in the basket, sugar maker SBT hit its upper limit, securities firm SSI expanded 6.1%, lender STB added 4%, alongside many other good performers such as lender TCB, property firm VIC, and insurer BVH.

The group of bank stocks made a rebound as CTS, BSI, BVS, and AGR rose to their ceiling prices, and HCM, IVS, MBS inched up 2-3%.

Stealing the limelight in this session was property developer FLC, which reached its upper limit and reported a matching volume of 29.38 million shares. Recently, FLC chairman, Trinh Van Quyet, registered to buy 15 million FLC shares from February 4 to March 5. Once completed, he will raise his ownership in the firm to some 215 million shares, or a 30.34% stake.

Also, FLC has announced that its profit in the final quarter of last year exceeded VND2.5 trillion, up over fourfold versus the previous quarter and nearly fivefold against the year-ago figure, helping its pre-tax and after-tax profit reach some VND300 billion and 180 billion, respectively.

On the northern bourse, the HNX-Index rose 0.16 point, or 0.07% compared to the previous session, at 223.84, with 119 advancers and 53 decliners. Turnover on this market improved 16.2% in volume and 37% in value at 109 million shares and over VND2 trillion.

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