Friday , July 19 2024

Shares jump on the back of large-caps


The newly-built headquarters of FPT Corporation on Phạm Văn Bạch street, Hà Nội. FPT rose 1.7 per cent Thursday. — Photo courtesy of FPT

HÀ NỘI — Vietnamese shares jumped on Thursday following the rise of a series of industry groups, with indices gaining right from the beginning of the session, bolstered by multiple large-cap stocks.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index gained 1.87 per cent to end at 1,236.63 points.

The index had declined 1.33 per cent to end Wednesday at 1,213.93 points.

More than 561.7 million shares were traded on the southern bourse, equivalent to VNĐ14.75 trillion (US$634.8 million).

Market breadth was positive with 154 losers and 298 gainers.

In the banking group, all stocks gained ground including Military Bank (MBB), Techcombank (TCB), Vietcombank (VCB), Bank for Investment and Development of Việt Nam (BID), VietinBank (CTG), Việt Nam International Commercial JS Bank (VIB) and Saigon-Hanoi Commercial JS Bank (SHB), and Tiên Phong Bank (TPB).

Energy stocks also performed positively with gainers such as Việt Nam National Petroleum Group (PLX), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD) and Drilling Mud Joint Stock Corporation (PVC).

Vietnamese shares’ uptrend on Thursday moved in the opposite direction to the global downtrend. The MSCI’s benchmark for global stocks trimmed earlier gains and was down 0.3 per cent after the US Fed approved on Wednesday its biggest interest rate hike since 1994. 

The 30 biggest stock tracker VN30-Index increased 2.18 per cent, to end at 1,280.37 points.

Gainers in the VN-30 group were Hòa Phát Group (HPG), FPT Corporation (FPT), Masan Group (MSN), Novaland (NVL) and Khang Điền House (KDH).

In the basket, 26 stocks climbed, and three slid, the other one was flat.

On a sector basis, 20 out of 25 sector indices on the stock market gained ground, including insurance, retail, oil and gas, banking, wholesale, construction, rubber production, IT and logistics, agriculture, real estate, food and beverage, and construction materials.

Losers, meanwhile, included securities and healthcare.

On the Hà Nội Stock Exchange (HNX), the HNX-Index grew 1.6 per cent, to end Thursday at 287.77 points.

The northern market index had lost 2.35 per cent, to end Wednesday at 283.25 points.

Nearly 61.8 million shares were traded on the northern exchange, worth VNĐ1.4 trillion. — VNS


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