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Blue chips lift the market
Shares recovered on Monday morning on the HCM Stock Exchange after four consecutive losing sessions last week, boosted by large-cap stocks.
The benchmark VN Index picked up 0.24 per cent to close at 773.90 points.
Twenty-one of the 30 largest shares by market value and liquidity advanced; six declined.
Banks continued to give the market’s its momentum with six listed banks gaining value. BIDV (BID) was the biggest gainer with a rise of 1.2 per cent, while others went up by less than 1 per cent.
Besides banks, the shares of securities, construction and steel companies also supported the market.
Large-cap stocks in these sectors, such as Saigon Securities Inc (SSI), HCM Securities (HCM), BIDV Securities (BSI), Vietinbank Securities (CTS), Hòa Phát Group (HPG), Hoa Sen Group (HSG), Kinh Bac City Development (KBC) and HCM City Infrastructure Investment (CII), were among the gainers.
On the negative side, large food and beverage companies such as Vinamilk (VNM), Sabeco (SAB) and Kido Group (KDC) slumped.
On the Ha Noi Stock Exchange, the HNX Index was up 0.21 per cent at 101.07 points.
Liquidity was low with only 127 million shares worth around VND1.9 trillion (US$84.8 million) being traded in the two markets in the morning.
The afternoon session starts at 1pm.
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