VN Index continues gains

12-Dec-2016 Intellasia | Vn Economic Times | 1:36 PM Print This Post

The 3 day rally of the VN Index ended the week by recovering to the 660-665 resistance area.

VN Index finished higher after three consecutive days with an increase of 4.18 points (0.63 per cent) and the VN30-Index increased 0.19 points (0.03 per cent). On the HNX, the HNX-Index increased by 0.24 points (0.31 per cent) while HNX30-Index ended down 0.18 points (0.12 per cent).

The VNAll-Index closed at 0.84 points (0.09 per cent) higher but the UPCoM Index fell 0.58 points (1.02 per cent). The VNMid Index increased by 3.63 points (0.45 per cent) while VNSml fell 7.57points (0.98 per cent).

HSX saw 88 shares increase and 146 decrease while the HNX saw 116 increase and 138 decrease.

Liquidity on HNX was VND341 billion ($15.09 million), 16.4 per cent higher than yesterday, and on the HSX liquidity was VND1.5 trillion ($66.4 million), down 11.7 per cent.

The VN Index opened at 658.89 then, the same as yesterday, this index gained strong support from the pre-open session, bringing this index to 663.8 points as it continued increasing to the peak of the day at 664.4 points before slipping and then recovering to close the morning session at 662.1 points. In the afternoon session, VN Index fluctuated until late in the session then fell to 660.9 points later before recovering to close at 663.7 points.

For the second day in a row VNM experienced high net sales from foreign investors as they sold net VND100 billion ($4.42 million) on this stock. However, demand from local investors was enough for it to recover for an increase of 0.4 per cent and a trading value of some VND205 billion ($9.07 million). ROS was the highest trading value share on HSX today with VND290 billion ($12.83 million) changing hands although the price ended unchanged from its opening price.

SAB increased the ceiling for the fourth day in a row with its price increasing 6.9 per cent. Other shares in the food & beverage sector saw MSN close at its opening price. KDC increased 0.6 per cent and SBT and VHC were down 2.5 per cent and 0.9 per cent respectively.

In banking, EIB, MBB and VCB increased 3.2 per cent, 1.1 per cent and 0.1 per cent respectively. STB ended down 1.4 per cent, CTG 1 per cent and BID 0.3 per cent.

Among energy stocks, PGD and GAS increased 1.8 per cent and 1.5 per cent respectively, and CNG decreased 1.7 per cent.

Other large caps on HSX saw VIC, MSN, HPG, MWG closing at their opening price while BVH rose 1 per cent.

Among large caps on HNX, VCS was up 8.5 per cent, PHP 6.2 per cent and ACB 1.8 per cent. On the other hand, SHB ended down 3.9 per cent, VCG 2 per cent and PVS 1.8 per cent. NTP, PVI and VNR closed at their opening price.

Foreign investors net sold by VND378 billion ($16.73 million) on the HSX and net sold by VND8 billion ($354,160) on the HNX.

From the technical point of view, VN Index will under correct in trading at the beginning of next week at around 660 points (+/- 5 points) before increasing in the last few days. Whatever happens, short term trading will bring only a minimum profit so buying shares with 3-6 months purpose would be more profitable. Investors are recommended to buy and hold oil/ gas, insurance and steel stocks in this period.

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Category: Stocks, Vietnam

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