April 9: VN Index Tops 450, Demand Solid

The benchmark VN Index gained 3.29 points or 0.73% to 450.73. Volume fell 27.3% to 66.3 million shares worth of VND909.8  billion, however, this level is still high. Put-through trading contributed 3.2 million shares worth VND39.34 billion.

We saw FPT, EIB, REE, CTI shares were changed hands at the ceiling prices in the arranged deals while FDC, GTT, LSS, RDP shares were sold at the floor prices.

VN30 was still stronger than the broader market, adding 4.13 points or 0.81% to close at 515.64. Volume was 22.5 million shares changed hands for VND418.76 billion.

The market sentiment was buoyed up after the central bank asked top commercial banks to slash deposit rates to 12% as the next move to the target of trimming down interest rate rates by 1% each quarter to the end of the year.

Market opened the morning session in the green with 3.3 million shares changed hands as buying interest from last week expanded. However, profit takers were also ready to sell at high prices. Market went on in more cautious mood but buyers finally gathered enough steam to boost the market higher, closing near the high of the day.

The market breadth was positive on the primary bourse where 183 stocks advanced, 69 tumbled, 58 closed unchanged, and 17 stocks were untraded.

Securities stocks were strong, HCM, SBS limited up, SSI  posted gain and closed at the high of the day.

 Property shares were also strong, DIC, DIG, NTL, ITA, ITC, LCG HAG, KBC, SJS were all gainers.

Banking stocks were a bit weaker than the broader market, CTG, EIB, STB, MBB gained while VCB stayed at the neutral line.

Heavy weighs BVH stayed unchanged, MSN edged up, VIC fell. Pennies looked stronger and some hit the ceiling including SAM,  NTB, DIG, SBT, PXS, PTL…

Tan Tao Investment – Industry Corporation (ITA), the most active stock on a trade of 3.7 million shares, edged up 0.9% to end at VND11,200.

SACOM Development and Investment Corporation (SAM), coming second in liquidity with 3.5 million shares changed hands, surged 4.7% to settle at VND6,700.

Becamex Infrastructure Development Joint Stock Company (IJC) leaped 4.24% to finish at VND12,300 on a trade of 3.1 million units – the third most active.

On the Hanoi Stock Exchange, the HNX added 1.59 points, or 2.13%, to end at 76.28.  Trading volume was down 21% from last Friday to 70.2 million shares worth VND707 billion, down 16%.

The market breadth was negative on the northern exchange. Among index members, 100 rallied, 139 tumbled, 83 closed unmoved, and 74 were untraded.

Hanoi-based lender Habubank (HBB), the most active on the measure with 8.3 million shares changed hands, rose 1.34% to settle at VND7,000.

PetroVietnam Construction (PVX), coming second in liquidity on a trade of 5.8 million units, jumped 4.4% to end at VND12,900 per share.

VNDirect Securities (VND) shot up 6.61% to finish at VND12,900 on a trade of 4.4 million shares – the third most active.