Securities fuel shares, investors seek profits in large-caps

HÀ NỘI — Securities stocks were in the limelight on Thursday as the market ended in positive territory but investors dumped a number of large caps to take profits.

The VN-Index at the Hồ Chí Minh Stock Exchange (HoSE) gained 0. 三 一 per cent to close at  八 八 三. 九0 points.

More than  四 三 一. 一 million shares were traded for VNĐ 六. 七 trillion (US$ 二 八 八 million).

Securities stocks rose by  四. 六 per cent, with notable gainers being Saigon Securities Inc (SSI), Hồ Chí Minh Securities Corp (HCM), VNDirect Securities Co (VND), Vietinbank Securities Co (CTS), and Sài Gòn-Hà Nội Securities Co (SHS).

The banking sector maintained its uptrend with the Bank for Investment and Development of Việt Nam (BID), Vietinbank (CTG) and Vietcombank (VCB) all ending in green.

But Asia Co妹妹ercial Bank (ACB), Military Bank (MBB), VPBank (VPB), Techcombank (TCB), and HDBank (HDB) fell.

Some blue ships like insurer Bảo Việt Holdings (BVH), tech company FPT Corporation (FPT), steel maker Hoà Phát Group (HPG), consumer giant Masan Group (MSN), conglomerate Vingroup (VIC), Vinhomes (VHM), and Techcombank (TCB) also ended in negative territory.

Large cap stocks saw divergence with the VN 三0-Index, which tracks the  三0 largest stocks by market capitalisation on HoSE, was down 0.0 六 per cent to  八 二 三. 七 七 points.

Fifteen gained while  一 二 declined, while the other three remained unchanged.

Market sentiment was boosted after US stocks moved up in overnight trading.

The Dow Jones Industrial Average rose  二.0 五 per cent to close at  二 六, 二 六 九. 八 九, the S P  五00 gained  一. 三 六 per cent to  三, 一 二 二. 八 七 and the Nasdaq Composite finished 0. 七 八 per cent up at  九, 六 八 二. 九 一.

Out of  二 五 sectors,  一 四 including securities, banking, logistics, real estate, agriculture, construction, seafood processing, and insurance posted gains.

Retail, information and technology, energy, rubber production, food and beverages, construction materials, and healthcare finished in the red.

The HNX-Index on the Hà Nội Stock Exchange gained 0. 八0 per cent to close at  一 一 七. 四 二 points.

More than  八 三 million shares worth VNĐ 九 六 七 billion were traded.

Foreign investors were net sellers to the tune of VNĐ 六 五. 二 六 billion on HoSE as they dumped E 一VFVN 三0 (VNĐ 一 三 一. 二 billion), Hồ Chí Minh City Infrastructure Investment JSC (CII) (VNĐ 五0. 二 billion) and Bảo Việt Holdings (BVH) (VNĐ 二0. 七 billion).

On the HNX too they were net sellers (VNĐ 一 七. 七 八 billion).

“The VN-Index could experience considerable volatility at the  八 八0- 八 八 八 resistance zone in the next session,” Bảo Việt Securities Co said.

“The market, which has become overbought, will possibly face pressure.” — VNS