VN-Index advances as bank stocks recover

May 05, 2015 | 14:43

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Shares managed to close higher this morning, propped up by the recovery of bank stocks and blue chips, despite a negative opening on the HCM Stock Exchange.

The benchmark VN-Index recouped 0.17 per cent to end at 546 points. Photo vnexpress

The benchmark VN-Index recouped 0.17 per cent to end at 546 points, while the VN30, which tracks the top 30 shares by market value and liquidity, increased 0.44 per cent to close at 579.08 points.

Bank shares provided the market momentum this morning, as most of the large lenders such as Vietinbank (CTG), BIDV (BID), Sacombank (STB) and Vietcombank (VCB) gained value.

Other blue chips, including Saigon Securities Inc (SSI), Hoa Phat Group (HPG), VinGroup (VIC) and PetroVietnam Drilling and Wells Service Corp (PVD), also increased. The overall market condition was negative, as the losers were double the number of gainers.

Liquidity remained modest, with nearly 71 million shares worth VND995.5 billion (US$46.1 million) being exchanged by the end of the morning.

Property developer FLC Group (FLC) was the most active stock, with 5.9 million of its shares being traded, sliding 1.3 per cent to stand at VND9,600 per share.

On the Ha Noi Stock Exchange, the HNX-Index lost another 0.41 per cent to close at 79.62 points, as the losers outnumbered the gainers by 102 to 47, while 216 stocks remained flat.

More than 26 million shares, worth more than VND267 billion ($12.4 million), were exchanged here, with KLF Joint Venture Global Investment Co (KLF) leading with nearly five million shares. KLF's price slumped 3.7 per cent to close at VND7,800 each.

The afternoon session will start at 1pm.

VNS

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