Bank, oil shares prop up market

On the Hồ Chí Minh Stock Exchange, the VN-Index added 0.47 per cent to close the morning trade at 993.89 points.

On the Hà Nội Stock Exchange, the HNX-Index increased 0.44 per cent to 108.35 points.

Both stock indices rose by less than 1 per cent last week.

Oil and gas and banking stocks were the main market supporters this morning while the overall market condition was negative with the number of declining stocks outnumbering the gaining ones by 207-197.

Other 356 remained unchanged.

Big oil and gas firms including PV Gas (GAS), PetroVietnam Drilling and Wells Service (PVD) and Petrolimex (PLX) added between 1.3 and 4 per cent.

Some banks also performed well and lifted the sector. The three biggest banks by market value – Vietinbank (CTG), Vietcombank (VCB) and BIDV (BID) – all grew by more than 1 per cent.

Liquidity remained modest with 105.5 million shares worth combined VNĐ2 trillion (US$85.8 million) being traded in the two markets this morning.

The afternoon trade starts at 1pm.