Shares shoot up on strong cash flow

15:30 | 08/05/2020
Shares climbed in a flurry of excitement on Friday morning thanks to a strong cash flow pouring in most of the sectors.
shares shoot up on strong cash flow
A customer fills up at a Petrolimex (PLX) gas station. PLX rose 4.64 per cent on Friday morning. - VNA/VNS Photo Minh Quyet

The benchmark VN-Index on the Ho Chi Minh Stock Exchange exceeded the 800-point landmark, climbing 2.84 per cent to close the morning session at 819.16 points, the best daily increase since March 25.

The index had climbed 1.78 per cent to close Thursday at 796.54 points.

More than 186 million shares were traded on the southern exchange for VND3.5 trillion (US$150.1 million).

The market breadth was positive as gainers outnumbered decliners by 232 to 103.

Nine-teen out of 25 sectors gained ground on Friday morning thanks to a boost from strong buying demand. Retail, wholesale, insurance, real estate, food and beverage, construction materials, agriculture, information and technology, oil and gas and securities were among the gainers.

The sector indices gained between 0.02 per cent and 3.1 per cent, according to vietstock.vn.

Healthcare, logistics, construction and rubber production lost ground.

Banking stocks outperformed with Vietcombank (VCB), Bank for Investment and Development (BID), Military Bank (MBB), Vietinbank (CTG) and VPBank (VPB) all rallied.

Petroleum stocks also marched higher such as Petro Vietnam Gas JSC (GAS), PetroVietnam Technical Services Corporation (PVS), Việt Nam National Petroleum Stock (PLX) and PetroVietnam Drilling and Well Services Co (PVD).

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, increased 3.36 per cent to close at 764.85 points.

On the Ha Noi Stock Exchange, the HNX-Index rose 1.20 per cent to end Friday morning at 109.61 points.

Nearly 33 million shares were traded on the northern bourse for VND296 billion.

The northern market index had risen 1.55 per cent to end Thursday at 108.31 points.

VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional

Based on MasterCMS Ultimate Edition Ver 2.9 2020