VN-Index gains narrow in fifth straight gaining session

By Hung Le   August 7, 2020 | 02:12 am PT
VN-Index gains narrow in fifth straight gaining session
An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
The VN-Index edged up 0.17 percent to 841.46 points Friday, with gains driven by big- and mid-capped stocks.

Overall, the VN-Index has been able to claw back a total of 43.07 points, or 5.39 percent, this week. However, the gains, as high as 2.04 percent on Monday, have been narrowing down in every session.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw a fairly balanced session with 185 stocks gaining and 177 losing. Total trading volume improved 10 percent over the last session, reaching VND4.55 trillion ($195.92 million).

Notably, 62 percent of this cash flow went into stocks off the VN30, a basket of market’s 30 largest capped stocks, which usually accounts for more than half of total trading each session. The VN30-Index this session added 0.7 percent, with 13 gainers and 14 losers.

Although ROS of real estate developer FLC Faros led gains with 5 percent, the tickers that contributed the most to the VN-Index were GAS of energy giant PetroVietnam Gas, CTG of state-owned banking giant VietinBank, and VNM of diary giant Vinamilk, according to data from brokerage VNDIRECT.

As some of the VN30’s biggest capped stocks, they together contributed 1.1 points to the VN-Index. GAS rose 1 percent, CTG 1.6 percent, and VNM 0.6 percent.

Other major gainers this session were REE of appliances maker Refrigerated Electrical Engineering, up 1.3 percent, TCH of truck dealer Hoang Huy Group, up 1.2 percent, and SAB of major brewer Sabeco, up 0.8 percent.

Off the VN30, VGC of partially-state-owned construction firm Viglacera and GEX of electrical equipment producer Vietnam Electrical Equipment JSC were the biggest gainers, climbing 7 percent and 5.7 percent respectively.

Meanwhile, VIC of Vietnam’s largest private conglomerate Vingroup and VHM of the former’s real estate subsidiary Vinhomes kept their opening prices.

Notable losers this session were MWG of electronics retailer Mobile World, down 0.9 percent, followed by KDH of real estate developer Khang Dien Housing, down 0.8 percent.

VJC of budget carrier Vietjet Air, SSI of top brokerage Saigon Securities Inc., SBT of agricultural firm TTC-Sugar, and PNJ of jewelry retailer Phu Nhuan Jewelry all fell 0.7 percent.

Among those in the red were two tickers of state-owned banks and four of private banks, all of them losing between 0.3 percent and 0.5 percent.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.50 percent, while the UPCoM-Index for stocks on the Unlisted Public Companies Market added 0.18 percent.

Foreign investors turned net sellers to the tune of VND80 billion ($344.46 million), with buying pressure focused mainly on VIC of Vingroup and NVL of real estate developer Novaland, which fell 0.5 percent.

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