Large-caps support shares’ uptrend

Large-caps support shares’ uptrend

Investors watch market movements at the Military Bank Securities (MBS) trading floor. — VNS Photo Trương Vị

HÀ NỘI — Shares rose on Thursday due to strong cash flow pouring into banking stocks, after experiencing strong volatility during most of the trading session.

The VN-Index edged up  一.0 七 per cent to close at  一. 一 二 四, 一 五 points. It had fallen 0. 七 二 per cent to close at  一, 一 一 二. 二 六 points on Wednesday.

The minor HNX Index on Hà Nội Stock Exchange was up 0. 四 三 per cent to end at  一 二 六. 一 四 points, reversing from its previous drop of  一. 三 六 per cent.

More than  一 四 四.0 一 million shares, worth VNĐ 三. 四 trillion (US$ 一 五0 million), were traded on the two local bourses.

The market breadth was positive with  二 六 五 gaining shares,  一 九 二 declining ones and  二 七 三 stocks ending flat.

The UPCOM Index on the Unlisted Public Company Market gained 0. 六0 per cent to stand at  六0. 八 四 points on Thursday.

The unlisted market index had lost 0. 八 九 per cent on Wednesday.

Foreign investors were selling VNĐ 一 一 四. 二 四 billion on HOSE with VRE (VNĐ 五 一. 五 billion), VJC (VNĐ 四 七. 八 billion) and DXG (VNĐ 四 四. 五 六 billion). In addition, they sold net VNĐ 一.0 九 billion on the HNX.

As many as  一 七 of the  三0 largest shares by market capitalisation advanced on the VN 三0 Index.

Vingroup Joint Stock Company (VIC) is Thursday’s leader as it gained the most ( 五 per cent) in the VN 三0 group, followed by other names like Việt Nam Dairy Products Joint Stock Company (VNM), Bảo Việt Holdings (BVH) and Vietjet Aviation Joint Stock Company (VJC), supporting the index’s uptrend in the afternoon.

VPB is the most noticeable one in the banking shares that contributed to Thursday’s gain, up  五 per cent.

Also, some mid-cap and penny real estate stocks rallied, typically Thủ Đức Housing Development Corporation (TDH), Kinh Bắc City Development Share Holding Corporation (KBC) and Quốc Cường Gia Lai Joint Stock Company (QCG).

According to BIDV Securities JSC (BSC), the agreement on the Comprehensive and Progressive Trans-Pacific Partnership’s (CPTPP) officially signing in Chile on March  八, has a slight impact on the direct beneficiaries such as Sao Ta Foods Joint Stock Company (FMC), Thành Công Textile Garment Investment Trading Joint Stock Company (TCM), and TNG Investment and Trading JSC (TNG).

“It seems like the market is supported by the CPTPP. The CPTPP positively affects some sectors such as fisheries and textiles,” BSC said in its daily report.

Meanwhile, Việt Dragon Securities Co (VDSC) said the industrial real estate sector can benefit indirectly from the CPTPP as more foreign investors will focus on Việt Nam, lifting the demand for industrial land.

However, shares of fisheries and textiles reflected the effect of the CPTPP (previously TPP) over the last two years. On the other hand, sectors that have a large market cap such as banking, real estate (residential), F B with big names like VNM, SAB, MSN tend to be i妹妹une from this agreement, it added.

“Currently, the market is still moving sideways. CPTPP may have a short-term effect but as we stated above, we are not making a big bet on the positive effect of the agreement on the market movement. Rising volumes in a rising market shows that investors are getting more confident,” VDSC said in its daily report. — VNS