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Market rises on rubber, bank stocks
Shares inched higher on Monday morning, boosted by gains in material, banking and logistics stocks.
On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index rose 6.95 points, or 0.51 per cent, to 1,364 points. The market's breadth was positive as 250 stocks increased while 113 stocks declined.
The liquidity was high with more than 505.7 million shares traded on the southern bourse, worth nearly VND16.2 trillion (US$711.03 million).
The index's gain was supported by large-cap stocks, especially in material and banking sectors. The VN30-Index, which tracks the 30 biggest stocks on HoSE, climbed 0.37 per cent. Of the VN30 basket, 18 stocks jumped while eight fell, and four stayed unchanged.
Vietnam Rubber Group (GVR) led the market's trend as it hit the maximum daily gain of 7 per cent. It was followed by VPBank (VPB) and Techcombank (TCB), up 2.2 per cent and 1.15 per cent, respectively.
Securities stocks like SSI Corporation (SSI) also jumped more than 4.9 per cent in the morning trade.
The market opened the session on a positive note as many stock groups surged in the early trade.
These included logistics stocks like Vietnam National Shipping Lines (MVN) and Viet Nam Ocean Shipping SJC (VOS), and fertiliser stocks such as Petrovietnam Fertilizer & Chemicals Corporation (DPM) and PetroVietnam Ca Mau Fertilizer JSC (SCM).
On the Ha Noi Stock Exchange (HNX), the HNX-Index witnessed a gain of 1.35 per cent to 341.52 points.
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