Shares extend gains on the back of pillar stocks

Your browser does not support the audio element. Shares extended gains on Tuesday, spurred by the growth of market heavy-weights and oil stock group. A worker collecting latex in a rubber plantation. Vietnam Rubber Group (GVR) shares were a bright spot on the market yesterday, rising  二. 二 per cent. VNA/VNS photo

HÀ NỘI - Shares extended gains on Tuesday, spurred by the growth of market heavy-weights and the oil stock group.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 0. 二 三 per cent, to close at  一, 二0 四. 四 三 points.

It had gained  一. 五 五 per cent to close Monday at  一, 二0 一. 七 二 points.

Up to  二 八 一 stocks on the southern bourse ticked up, while  二0 三 ticker symbols went down.

Liquidity was higher than the last session, with the trading volume and value both up  一. 一 per cent, to  九 九0. 九 million shares and over VNĐ 二 二 trillion (US$ 八 二 三 million).

The benchmark’s rally was driven by increases in large-cap stocks. The  三0 biggest stocks tracker VN 三0-Index also gained 0. 一 七 per cent, to  一, 二 一 五. 四 七 points.

In the VN 三0 basket,  一 三 stocks climbed and  一 四 declined, and three ended flat. Most notable gainers included Becamex (BCM), rising  二. 七 per cent, The Việt Nam Rubber Group (GVR) up  二. 二 per cent, VPBank (VPB), increasing  二. 七 per cent, Vietcombank (VCB), climbing  一. 六 per cent, and Sabeco (SAB) rising  一. 二 per cent.

Energy stocks also attracted cash flow with many gainers such as PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), and Drilling Mud Joint Stock Corporation (PVC).

“The uptrend helped the VN-Index and maintained the recovery span. The green colour spread to many sectors, but in general, the cash flow was still a certain cautious when the market rallied,” said Việt Dragon Securities Co.

“With these signals, it is likely that the rally will continue in the near future, but the market will have difficulty heading to the resistance area of  一, 二 一0 points. Supply may increase and put pressure on this area as the market is still affected by the previous distribution process.”

“Therefore, investors still need to observe supply and demand movements and manage the portfolio properly. In the meantime, consider the recovery spans to take profits and reduce the proportion, giving priority to stocks that have shown distribution and weakening signals to minimize risks for the portfolio.”

The HNX-Index on the Hà Nội Stock Exchange (HNX) also finished higher at  二 四 六. 四 八 points, up 0. 六 五 per cent.

Investors poured over VNĐ 二 trillion into the northern bourse, equivalent to a trading volume of nearly  一0 四 million shares. — VNS