Blue chip rally boosts markets

Investors trace market fluctuations at VNDirect stock trading floor in Ha Noi. - VNS Photo Viet Thanh

On the HCM City Stock Exchange, the VN-Index rose above 600 points, adding more than 10 points to close the session at 609.27 points.

All of the top 30 shares by market value and liquidity gained value, pushing the VN30 up 1.68 per cent to finish at 655.06 points.

The biggest gainers were Hoang Anh Gia Lai Co (HAG), up 4.51 per cent; PetroVietnam Drilling and Wells Service (PVD), up 4.12 per cent; VinGroup (VIC), up 3.13 per cent; Vinamilk (VNM), up 1.9 per cent and Phu My Fertiliser (DPM) and Masan Group (MSN), both up 1.2-1.3 per cent.

Shares of PV Gas (GAS), which has the highest market value but is not included in the VN30, were sold heavily by foreign investors. However, the price climbed 2.83 per cent thanks to steady demand from the domestic sector.

Liquidity improved as market volume increased 20 per cent compared with the previous session, totaling over 183 million shares, while the value of trades rose 10 per cent to reach VND3.1 trillion (US$147 million).

FLC Group (FLC) remained the most active code with nearly 18 million shares traded. The share price jumped 4.3 per cent to close at VND12,200 per share.

According to analysts at SHB Securities Co, demand rose when the VN-Index was around 590-600 points. Trading would focus on stocks with prospects of positive business results in the third quarter.

On the Ha Noi Stock Exchange, the HNX-Index added 1.25 per cent to end the session at 89.73 points, its biggest gain in the past three weeks. The HNX30 also rose 1.7 per cent to stand at 183.87 points.

Both market volume and value increased 10 per cent to reach 83 million shares worth VND1.1 trillion ($52.1 million). Sai Gon - Ha Noi Bank (SHB) led in terms of market volume with 8.6 million shares traded, closing flat at VND9,200 per share.

Foreign investors were once again net sellers on the HCM City Stock Exchange, picking up shares worth nearly VND100 billion ($4.7 million), but were net sellers in Ha Noi's market with a net sell value of VND2.4 billion ($113,740).