VN Index ends flat, cash flow focuses on property stocks

16-Oct-2021 Intellasia | The Saigon Times | 5:02 AM Print This Post

The poor performance of many largecaps weighed down on the benchmark VN Index of the HCM City market today, October 14, despite winning stocks far outnumbered losing ones.

A bright spot in the local market today was strong cash flow being channeled into real estate stocks and small caps. However, it was heavyweights that kept the main index from rising.

With 252 winners and 140 losers, the VN Index closed mostly unchanged at 1,391.85 points, down a fractional 0.06 points. More than 725 million shares valued at some VND22 trillion were transacted on bourse, improving over 12 percent in volume and 18 percent in value against the previous session. Shares traded in block deals contributed over VND1.4 trillion to the total value.

Among bluechips in the VN30 basket, property developer PDR soared 2.6 percent to VND93,000 and became the best performer in the basket. Also, rubber group GVR expanded 2.4%. Other advancers included lender HDB, retailer VRE, low-cost carrier VJC, and gas firm GAS.

Meanwhile, housing developer VHM was a major drag on the main index as it slipped 1.4%. Other bluechips such as ACB, BID, MSN, VIC, and FPT dipped slightly by less than 1%, while steelmaker HPG, electricity company POW, securities SSI, and jewellery marker PNJ moved sideways.

Lender TCB was the most actively traded stock in the basket, with over 19.7 million shares changing hands. Steelmaker HPG reported a matching volume of 19.2 million shares, electricity firm POW some 13 million shares, and lender MBB 10.6 million shares.

Especially, small and medium stocks in the real estate and construction sectors were cash magnets, with DLG, MCG, HAR, and KHG surging to their ceiling prices. Other big advancers comprised ITC, HTN, DIG, and NLG, up 4.9-6.6%.

As for liquidity, lender SHB took the lead on the southern bourse with over 22.2 million shares traded, but it fell sharply, by 3.3%.

Regarding the Hanoi market, the HNX-Index gained 5.5 points, or 1.45 percent versus yesterday to 384.84, with 145 advancers and 83 decliners.

https://english.thesaigontimes.vn/vn-index-ends-flat-cash-flow-focuses-on-property-stocks/

 

Category: Stocks, Vietnam

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