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Sunday, May 16, 2021

Strong cash flow lifts stocks up

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HCMC – The VN-Index of the HCMC Stock Exchange skirted 870 points and ended in positive territory, as many stocks made gains thanks to increased demand today, August 24.

Closing the session, the benchmark index added as much as 13.9 points, or 1.63% against last Friday to reach 868.68, with the number of winners nearly quadrupling that of losers at 332 to 84. Trading on the southern bourse improved 33% in volume and 34% in value over the session earlier at 381.5 million shares and over VND6.6 trillion. Block deals contributed more than VND910 billion to the overall value.

The group of bank stocks was the main contributor to the VN-Index’s growth as most of them rose sharply, except for EIB closing unchanged and CTG nearly staying at its reference price at the close.

Among rising bank stocks, HDB expanded 3.7% to hit its intraday high of VND28,200, MBB and TCB both inched up 2.9%, and VPB soared a staggering 5.9% to its intraday high.

Bank stocks also were cash flow magnets. Lender STB reported matching volume of some 14.3 million shares, and MBB saw over 8.3 million shares changing hands. Their peers VPB and CTG recorded 7.2 million and 4.4 million shares transacted, respectively.

Many largecaps also staged outstanding performance. Property developer VIC gained 3.4%, gas firm GAS, steelmaker HPG, consumer goods producer MSN all edged up over 1%, in addition to other advancers such as PLX, SAB.

As for TCH, a financial investment company, it did not surge sharply but was noticeable for maintaining a 1% rise and trading actively with 2.75 million shares.

Regarding speculative stocks, realty trading firm HQC hit its upper limit and led the southern bourse by liquidity with 17.47 million shares transacted. Other medium and small stocks closed at their ceiling prices.

Trading on the northern bourse was less active than that of the south. The HNX-Index increased 0.53 point, or 0.43% versus the previous session to 123.16, with 120 advancers and 53 decliners.

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