VN Index recovers on investor bottom-picking

Viet Nam’s benchmark VN Index inched up 0.07 per cent to close Monday morning at 769.48 points. — Photo

Viet Nam’s benchmark VN Index advanced on Monday morning as strong purchases helped scoop up stocks from the index’ intraday low.

The index on the HCM Stock Exchange inched up 0.07 per cent to close at 769.48 points. It gained 0.2 per cent on Friday.

Market trading liquidity was low with more than 86.7 million shares being traded, worth VND1.63 trillion (US$72.7 million).

Large-cap stocks performed well on investors’ bottom-picking when the VN Index declined to near its lowest intraday level of 765.95 points.

Gas station operator Petrolimex (PLX) was the main factor to lift the southern market, rising 2.6 per cent to contribute 0.72 points to the index growth.

Among other increasing large-cap stocks were PetroVietnam Gas (GAS), consumer goods producer Masan Group (MSN) and agriculture group Hoang Anh Gia Lai (HAG).

On the opposite side, freshly-listed VPBank (VPB), steelmaker Hoa Phat Group (HPG) and property developer Novaland (NVL) weighed down the southern market by losing between one per cent and 3.2 per cent each.

The HNX Index on the Ha Noi Stock Exchange rose 0.83 per cent to end at 101.66 points. The northern market index was up 0.3 per cent on Friday.

Nearly 27.3 million shares were exchanged on the northern market, worth VND337.4 billion.

The afternoon trading session starts at 1pm. — VNS

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