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Shares stay in uptrend amid strong volatility
Shares managed to gain on Tuesday with the market experiencing strong volatility with big variations in large-caps' prices.
Workers at a PetroVietnam Gas JSC (GAS) facility. GAS rose 1.2 per cent yesterday. — VNA/VNS Photo
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On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark VN-Index gained 0.06 per cent to end at 1,180.49 points.
The market's breadth was negative with 220 gainers and 250 losers.
More than 1.05 billion shares were traded on the southern bourse, worth nearly VNĐ21.7 trillion (US$911 million).
The VN30-Index, tracking the 30 biggest stocks on HoSE, rose 0.27 per cent to close at 1,193.51 points. Fifteen out of 30 stocks in the VN30 basket posted gains, while 14 decreased.
In the VN-30 basket, pillar stocks experienced big variation with notable losers including Vingroup (VIC), Sabeco (SAB) both falling by 2 per cent. The Việt Nam Rubber Group (GVR), Vietinbank (CTG), Vinhomes (VHM), Vietcombank (VCB), PVPower (POW), were among those that lost more than 1 per cent.
On the other side, gainers included Tiên Phong Bank (TPB), Vietnam National Petroleum Group (PLX), PetroVietnam Gas JSC (GAS), Bảo Việt Holdings (BVH), Mobile World Group (MWG) and Military Bank (MBB).
“In general, the market still received support because the market dropped quickly in a short time and dropped to the support area of 1,165 points. However, developments are still cautious and exploratory. This supportive move may continue in the near future and help the market recover technically to reexamine supply and demand,” said Việt Dragon Securities Co.
“Therefore, temporary investors still need to observe supply and demand movements and manage the portfolio properly. In the meantime, consider the recovery spans in the coming time to take profits and reduce the proportion, giving priority to stocks that have shown distribution and weakening signals to minimise risks for the portfolio,” it said.
Out of 25 sector indices, seven on the stock market posted losses, including real estate, banking, food and beverage, seafood production.
On the other side, gainers were retail, securities, healthcare, agriculture, construction materials, construction, insurance, IT, wholesale, oil and gas, rubber production and logistics.
On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 0.71 per cent to end at 239.65 points.
During the session, investors poured over VNĐ2 trillion into the market, equivalent to a trading volume of 118.7 million shares.
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