Vietnamese stocks bounced back strongly today as investors picked up shares on hopes of a sustainable rally in May.
The benchmark VN Index gained 3.56 points or 0.76 percent to 473.77, at the 11 month high. Volume fell 10.5 percent to 86.2 million shares worth of VND1.3 trillion. Put-through trading contributed 6.1 million shares worth VND115.65 billion.
The market breadth widened on the primary bourse where 196 stocks advanced, 71 fell, 43 closed unchanged of which 94 limited up, 6 limited down.
We saw 1.7 million ITA shares changed hands at VND8,900 each, versus the market close price of VND9,400 each. Other big put-through deals included over 1.9 million SEC shares changed hands at VND20,000 each and 0.54 million CII shares changed hands at VND40,800 each.
The VN30 Index was weaker than the broader market, closing up 3.1 points or 0.58 percent at 541.2.
The market opened in the green with 5.7 million shares changed hands. Trading was slow as cautious rose ahead of long holiday. Selling pressure was seen today and briefly sent the index into the negative ground in the morning session. However, buying interest was very firm, especially after 10:30, pushing the index higher than the open at the end of the morning session.
Market resumed the afternoon session with aggressive buying, sending the index higher. Trading pace was faster though blue chips were rather firm.
Hot stocks such as CSM, HSG, VNE, VIP, KSS, HAP continued to outperform.
STB was the only loser among banking stocks. Broker shares were mixed, BSI limited up, AGR and SBS fell while SSI, HCM post solid gain.
Tay Bac Minerals Investment Joint Stock Company (KTB), the most active stock on a trade of 4.4 million shares, jumped 4.35 percent to end at VND14,400.
SACOM Development and Investment Corporation (SAM), coming second in liquidity with 3.1 million shares changed hands, closed flat at VND9,700.
Becamex Infrastructure Development Joint Stock Company (IJC) surged 4.62 percent to settle at VND13,600 on a trade of 3 million units -the third most active.
On the Hanoi Stock Exchange, the HNX index rose 1.12 points or 1.42 percent to 79.86. Trading volume fell 10 percent to 67.6 million shares worth VND706 billion.
The market was slow in the morning session, but it turned very fast and exciting in the afternoon one with all market leading shares VND, PVX, KLS, ACB, PVS, PGS, VCG soared steeply and fast. The share prices eased a little bit at the close but still in a hefty gain.
Hanoi-based lender Habubank (HBB), the most active on the measure with 6 million shares changed hands, closed flat at VND7,100.
PetroVietnam Construction (PVX), coming second in liquidity on a trade of 4.3 million units, edged up 0.87 percent to end at VND11,600 per share.
VNDirect Securities (VND) jumped 2.83 percent to settle at VND12,900 on a trade of 4 million shares -the third most active.