Shares climb on back of oil stocks

13:08 | 11/09/2018

Vietnamese shares gained on Tuesday morning amid improved liquidity and climbing oil stocks.

shares climb on back of oil stocks
Saigon Securities Inc’s trading floor in Ha Noi. - VNS Photo Doan Tung

The benchmark VN-Index on the HCM Stock Exchange inched up 0.93 per cent to close at 979.35 points after gaining 0.15 per cent to close at 970.34 points on Monday.

The HNX Index on the Ha Noi Stock Exchange was up 0.56 per cent to end at 111.31 points after dropping 0.91 per cent to close at 110,69 points on Monday.

More than 132.9 million shares were traded on the two local exchanges, worth VND2.3 trillion (US$99 million).

The large-cap VN30 Index gained 1.04 per cent to stand at 953.12 points.

Oil stocks drove the market up, with gainers including Petro Vietnam Gas JSC (GAS), PetroVietnam Technical Services Corporation (PVS) and PetroVietnam Drilling & Well Services Corporation (PVD).

Among the other gainers were real estate developer Vingroup (VIC), dairy firm Vinamilk (VNM), Vincom Retail (VRE) and insurer Bảo Việt Holdings (BVH).

On a sector basis, real estate, mining, banking, securities and insurance companies were the main driving factors for the stock market on Tuesday morning.

The five industry indices were up 2 per cent, 1.7 per cent, 1.2 per cent, 1.4 and 1.3 per cent, respectively.

Other sectors that also performed well included retail and food and beverages.

The afternoon trading session starts at 1pm.

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