April 5: Vietnam Stocks Bounce on Bargain Hunting
Vietnamese stocks ended the morning session in the green as bargain hunters came back after sharp fall yesterday, volume stayed low.
The benchmark VN Index gained 2.82 points or 0.64 percent to 442.59. Volume stayed at 34.7 million shares worth of VND530.98 billion. Put-through trading contributed 4.7 million shares worth VND107.9 billion.
We saw 1.3 million EIB shares changed hands at VND17,000 each and 2.7 million STB shares changed hands at VND21,900 each, limiting down.
VN30 was still stronger than the broader market, adding 4.41 points or 0.88 percent to close at 504.69. Volume stood at 11.6 million shares changed hands for VND239.72 billion.
Market opened the morning session in the red with 1.5 million shares changed hands as selling momentum from yesterday expanded. However, bargain hunters came back and gave strong support to the market.
The buying was first seen in PVF and then FPT on the news that the tech titan plans to pay 2011 cash dividend at 1-for-5 ratio and share dividend at 2.5-for-10 ratio. Then buyers became aggressive in ITC, SSI, HCM which inspired interest in other ones. Market closed the morning session in the green, though off the high.
Other notable performance this morning included EIB with 2.9 million shares changing hands, becoming the most active one and wSTC share prices went up.
Other active players were SBS with 2.1 million shares changed hands closing down at VND5,800 each, MBB and SSI with 1.5 million shares each. PVF hit the ceiling with 1.1 million shares changed hands.
Market breadth was very negative with 100 gainers, 121 losers, and 89 stayed unchanged.
On the Hanoi Stock Exchange, the HNX gained 0.89 point or 1.22 percent to 74.14. Trading volume was 42 million shares worth of VND417.97 billion.
Market breadth was negative with 119 gainers, 212 losers, 65 unchanged.
The focus of the market today turned to VNE with 5.5 million shares changed hands, closing at the ceiling price, being the most active player.
Hanoi Building Commercial Joint Stock Bank (HBB) was the second most active player with 5.3 million shares changed hands, closing unchanged at VND7,000 a share.
PVX (4.1 million shares), and KLS (2.1 million shares) were other active players today, closing up.
Category: Stocks
