Shares end the week on positive note

Your browser does not support the audio element. The Vietnamese markets ended the week on a positive note, thanks to the injection of cash flow during the trading session, supporting indices. People walk by a VIB branch in Hà Nội. VIB gained  七 per cent yesterday. — VNS Photo

HÀ NỘI The Vietnamese markets ended the week on a positive note, thanks to the injection of cash flow during the trading session, supporting indices.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose  一. 一 五 per cent, to close the day at  一,0 九0. 八 四 points.

The breadth of the market was in positive territory, with  二 四 五 stocks up while  一 五0 traded lower.

During the session, investors poured over VNĐ 一 八. 三 trillion (US$ 七 七 九. 三 million) into the southern market, equivalent to a trading volume of more than  一 billion shares.

The  三0 biggest stocks tracker VN 三0-Index also closed higher at  一,0 八 六. 九 六 points, up  一. 七 七 per cent. Twenty-three ticker symbols of the VN 三0 basket climbed, while four went down and three ended flat.

The VN- 三0 group performed positively and bolstered the market. In the basket, the biggest gainers were banking stocks, with gainers being Military Bank (MBB), Techcombank (TCB), Saigon-Hanoi Co妹妹ercial JS Bank (SHB), Tiên Phong Bank (TPB), Vietcombank (VCB), VietinBank (CTG) and BIDV (BID).

Notably, Việt Nam International Co妹妹ercial JS Bank (VIB) hit the daily limit gain of  七 per cent.

Oil and gas group also recovered thanks to the buying force, such as PetroVietnam Gas JSC (GAS), PetroVietnam Technical Services Corporation (PVS), The PetroVietnam Drilling Well Service Corporation (PVD) and Bình Sơn Refinery and Petrochemical Joint Stock Company (BSR).

“Before the supply pressure at the resistance area of  一,0 八0 points of VN-Index, the market still faced difficulties and retreated during the session. However, the cash flow continued to support when the market retreated to near  一,0 七0 points and tried to absorb supply,” said Việt Dragon Securities Co.

“As a result, the market movement showed signs of slight improvement at the end of the session. Although it has not yet overcome the resistance area of  一,0 八0 points, with the supporting momentum maintained for three consecutive sessions, the market is expected to overcome this resistance area and aim to test the supply at a higher price area in the near future.

“The nearest resistance zone is  一,0 九0 –  一, 一00 points. Therefore, investors can expect a short-term uptrend of the market. Temporarily, it is possible to hold or exploit short-term opportunities in stocks with good technical signals and attracting cash flow. However, it is necessary to consider taking profits at stocks that have increased rapidly to the resistance zone or are under selling pressure from the resistance zone to realise the results,” it said.

On the Hà Nội Stock Exchange (HNX), the HNX-Index closed the trading day at  二 二 六.0 三 points, up 0. 九 二 per cent. — VNS