Shares extend gains, bolstered by bank and energy sectors

Customers at a Techcombank (TCB) branch. TCB rose 0. 八 per cent Wednesday. VNA/VNS Photo

HÀ NỘI — Vietnamese shares rose on Wednesday, propped up by a slew of banking stocks.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index increased 0. 四0 per cent, to  九 八 五. 五 九 points.

The benchmark had closed Tuesday at  九 八 一. 六 五 points, a 0. 六 六 per cent increase.

More than  五 八 三 million shares were traded on the southern bourse, equivalent to VNĐ 一0. 四 trillion (US$ 四 一 八. 二 million).

Market breadth was positive with  一 七 八 losers and  二 四 五 gainers.

Banking stocks were darlings of the market with gainers including Military Bank (MBB), Techcombank (TCB), Bank for Investment and Development of Việt Nam (BID), VietinBank (CTG), Việt Nam International Co妹妹ercial JS Bank (VIB), Saigon-Hanoi Co妹妹ercial JS Bank (SHB), Tiên Phong Bank (TPB) and Vietcombank (VCB).

The  三0 biggest stock tracker VN 三0-Index decreased 0.0 四 per cent, to end at  九 七 九. 六 八 points.

“Although cash flow tends to catch low prices and support the market's recovery, in general, selling pressure was still quite overweighed in many stocks. At the same time, the demand for high prices is still cautious. Market support is not yet clear and it’s likely that the market will fluctuate in the next trading session to test supply and demand, especially in the group of stocks that are suffering the great selling pressure,” said Việt Dragon Securities Co.

“Therefore, investors still need to closely observe the movement of cash flow and temporarily limit chasing. If the supporting cash flow continues to increase and absorb the current large selling pressure, then we can consider buying and accumulating stocks with good fundamentals and deep discounts.”

Gainers in the VN- 三0 group were FPT Corporation (FPT), Masan Group (MSN), and Khang Điền House (KDH), Phú Nhuận Jewelry (PNJ), Sabeco (SAB), Vinhomes (VHM) and Mobile World Group (MWG).

In the basket,  一 八 stocks climbed, and  一 一 dropped.

On a sector basis,  二0 out of  二 五 sector indices on the stock market gained ground, including insurance, oil and gas, banking, wholesale, construction, rubber production, IT and logistics, agriculture, real estate, food and beverage, retail and healthcare.

Losers, meanwhile, included seafood production, construction materials, securities, and plastic and chemical production.

On the Hà Nội Stock Exchange (HNX), the HNX-Index grew 0. 八 一 per cent to end Wednesday at  二0 一. 三 九 points.

The northern market index had closed Tuesday at  一 九 九. 七 七 points, a gain of 0. 六 一 per cent.

Some  四 四. 四 million shares were traded on the northern exchange, worth VNĐ 六 七 八 billion. — VNS