Strong cash flow helps stock market rebound

03-Dec-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

The strong cash flow helped the VN Index of the Hochiminh Stock Exchange reserved course to end higher today, December 1.

Investors caution caused by information about a new locally transmitted Covid-19 case in HCM City made hundreds of stocks on the southern bourse dip into the red this morning, resulting in a loss of over 20 points for the VN Index. However, cash flow kept running into both large-cap and speculative stocks during the afternoon, helping the benchmark index rebound strongly.

At the close, the VN Index increased by 0.58%, or 5.79 points, from the session earlier to 1,008.87 points.

Winning stocks outnumbered losers by 221 to 199. The southern market saw 583.31 million shares worth VND11.68 trillion change hands, increasing by 9.5 percent in volume and 3.5 percent in value against the previous session. Some 47.1 million shares worth over VND1.22 trillion were traded in block deals.

In the VN30 basket, 18 stocks gained ground, while only seven stocks declined.

Bank stocks were the outstanding cash magnets, with STB and TCH soaring by 5.5 percent to VND15,450 and 5.4 percent to VND20,550, respectively. STB and TCH were also the most actively traded stocks, with 37.83 million and 28.27 million shares changing hands, respectively.

VIB shot up to the ceiling price at VND29,500. TCB, HPG, MBB and VPB also had good liquidity, with 10-23 million shares traded each.

Other bluechips such as dairy producer VNM, brewery SAB, consumer goods company MSN and petroleum stock GAS extended by over 1%.

In the group of speculative stocks, HAG, HBC, HSG, PVD, DXG, LDG, DIG, and SCR among others gained ground. HBC, HSG and HAG had 10-16 million shares traded each.

On the Hanoi Stock Exchange, the HNX-Index increased by 0.83%, or 1.23 points, against the previous session, to close the day at 148.92 points, with gainers outnumbering decliners by 103 to 61. There were 57.8 million shares worth VND953.9 billion traded on the northern bourse.

Major contributors were lenders SHB and ACB and petroleum stock PVS, which rose by 1.8 percent to VND17,300, 0.48 percent to VND27,300 and 1.4 percent to VND14,900, respectively.

SHB, ACB and PVS also led the northern market by liquidity with the respective matching volume of 20.34 million, 9.24 million and 9.06 million shares.


Category: Stocks, Vietnam

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