Shares gain for four consecutive sessions
thamnguyen99 21-11-2020, 06:11
Shares gain for four consecutive sessions
Passengers board a Vietjet aircraft. Shares of Vietjet (VJC) rose 4.6 per cent on Friday. — Photo courtesy of Vietjet

Shares gained on Friday afternoon, driven by robust inflows on growing investor confidence.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 0.69 per cent to close at 990.00 points.

The index had risen 4.1 per cent during the past four sessions.

More than 501 million shares were traded on the southern exchange on Friday morning, worth VND9.5 trillion (US$410.8 million).

Market breadth was positive with 255 gainers and 169 decliners.

“Although the market liquidity declined the positive market amplitude and wide market breadth widened and still supported the positive market state,” said BIDV Securities Co.

“Foreign investors remained net buyers on HOSE and focused on large-cap stocks such as Vietjet (VJC) and Vinamilk (VNM),” it said.

“VN-Index is expected to consolidate at 980-1,000 points in the short term when the uptrend is showing signs of cooling down and it is about to reach the long-term resistance level of 1,000 points,” the company said.

Foreign investors net bought VND112.54 billion on HOSE. They were net sellers on the HNX with the value of VND27.89 billion.

The VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, gained 0.63 per cent to end Friday at 950.89 points.

Investor confidence was strengthened by rising input, particularly strong rushes for large-cap stocks. The market sustained its upward trend as many heavyweight stocks attracted cash flow toward the end of the trading session, such as Vietjet (VJC), increasing 4.6 per cent to VND118,900 per share, Vietcombank (VCB), rising by 2.5 per cent to VND92,500 per share, Bank for Investment and Development of Vietnam (BID), gaining by 2 per cent to VND41,200 per share, and Vinhomes (VHM), rising by 1.3 per cent to VND78,500 per share.

Across the stock market, 15 out of 25 sectors indices gained ground, including construction materials, plastics and chemical production, wholesale, healthcare, food and beverage and banking, seafood processing and rubber production.

On the other side, insurance, securities, information and technology, retail, energy, construction and logisitics lost ground.

On the Ha Noi Stock Exchange, the HNX-Index rose 0.25 per cent to end Friday at 147.21 points.

The northern market index had gained 0.04 per cent to close Thursday at 146.85 points.

Nearly 67.3 million shares were traded on the northern exchange, worth VND1 trillion. — VNS

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