Vietnamese stocks extended gain this morning as investors flocked to stocks after the rate cut and sluggishness of other alternative investment channels.
The benchmark VN Index gained 7.1 points or 1.55 percent to 465.84. Volume rose to 71.8 million shares worth of VND1.16 trillion. Put-through trading contributed 4.9 million shares worth VND100.46 billion.
We saw 2.7 million EIB shares changed hand s at VN17,700 each, much lower than market current price of VND18,600 each.
Other big put-through deal was 0.57 million CTI shares changed hands at the ceiling price of VND15,800 each.
VN30 was still stronger than the broader market, adding 11.15 points or 2.11 percent to close at 538.78. Volume rose to 24.8 million shares changed hands for VND573.3 billion.
Market opened the morning session in the green with 7.4 million shares changed hands. Trading was more active buyers were aggressive after the open, but then, sellers took advantage of the rally to cash out, volume increased much as both buyers and sellers tried to convince the market. VN Index closed morning session off the high but still with a solid gain.
The market breadth was positive on the primary bourse where 185 stocks advanced, 75 fell, 50 closed unchanged of which 83 limited up, 13 limited down.
Securities stocks mixed, SSI, HCM edged up, especially SSI passed resistance of VND21,000 today but SBS fell.
Banking stocks made impressive performance today as all posted gain, STB hit the ceiling level.
Property shares in general were stronger than the market, majority of these shares limited up.
MBB was very impressive today with 6.3 million shares changed hands, closing just behind the upper limit.
Other active stocks were SBS with 2.5 million shares, SSI with 2.4 million shares, OGC with 2.3 million shares, and STB with 2 million shares.
HPG kept limiting up for a second straight day but REE retreated.
On the Hanoi Stock Exchange, the HNX added 1.59 points, or 2.01 percent, to end at 79.1. Trading volume rose to 82.2 million shares worth VND800.6 billion.
The market breadth was positive on the northern exchange with 192 stocks up, 135 stocks down 69 closed unmoved of which 56 limited up, 12 limited down.
Hanoi-based lender Habubank (HBB), the most active on the measure with 20.9 million shares changed hands, closed up at VND7,400.
PetroVietnam Construction Joint Stock Corporation (PVX) coming second in liquidity on a trade of 5.6 million units, closing up at VND12,400 per share.
VNDIRECT Securities Corporation (VND) closed unchanged at VND12,400 on a trade of 4.6 million shares – the third most active.