Shares recover on the back of bank, real estate stocks

A view of Gem Sky World urban area project developed by Đất Xanh Group (DXG). DXG rose 3.2 per cent Thursday. — Photo courtesy of Đất Xanh Group

HÀ NỘI Shares recovered on Thursday thanks to investors venturing back into bank and real estate shares along with soothed sentiment on hopes that Russia and Ukraine may start their third negotiation more seriously.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0.36 per cent to close at 1,479.08 points. The index stayed flat on Wednesday.

The market’s breadth remained positive with 295 gainers and 164 losers.

Liquidity decreased sharply compared to Wednesday’s session with nearly 650 million shares traded on the southern bourse, worth nearly VNĐ20.2 trillion (US$1.5 billion).

The benchmark gained ground as some pillar stocks made strong increases. The VN30-index rose 0.07 per cent, to 1,490.24 points.

Seventeen of HoSE’s 30 biggest stocks in market capitalisation in the VN30 basket increased, while 12 stocks declined and one stayed flat.

The VN-Index’s gain continued to be consolidated thanks to the push from large-caps. Of which, Bank for Investment and Development of Việt Nam (BID), was up by 3.1 per cent, Vingroup (VIC) up by 2.9 per cent, Vincom Retail (VRE) rising by 2.7 per cent and Vinamilk (VNM) up by 2 per cent.

The banking group performed positively and supported the market with notable gainers including Vietinbank (CTG), Tiên Phong Bank (TPB), Vietcombank (VCB), Military Bank (MBB), Sacombank (STB), Techcombank (TCB), Eximbank (EIB) and Bank for Investment and Development of Việt Nam (BID).

Real estate shares also attracted strong cash flow and supported the overall market such as C.E.O Group JSC (CEO), Development Investment Construction Corporation (DIG), Long Giang Investment & Urban Development JSC (LGL), Vingroup (VIC), Vinhomes (VHM), Novaland (NVL), Đất Xanh Group (DXG), Nam Long Group (NLG), Khang Điền House (KDH) and Phát Đạt Real Estate (PDR).

Energy stocks suffered selling pressure with losers such as Việt Nam National Petroleum Group (PLX), PVPower (POW), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroVietnam Gas JSC (GAS).

Fifteen out of 25 sector indices on the stock market made gains, including banking, real estate, securities, wholesale, retail, food and beverage, construction, seafood processing, insurance and logistics.

The HNX-Index on the Hà Nội Stock Exchange (HNX) finished higher, with a rise of 0.68 per cent, to 447.64 points.

More than VNĐ3 trillion worth of shares were traded on the northern market, equivalent to a trading volume of nearly 119 million shares. — VnExpress News