Feb 29: Vietnam Stocks Resume Gaining Track on Bullish Sentiment

The benchmark VN Index added 1.42 points, or 0.34% to end at 423.64. Volume rose 3.5% to 125.98 million shares worth VND2.3 trillion, including 55.92 million shares worth of VND1.15 trillion changed hands in the put-through deals.

Of note, 38.2 million EIB shares were changed hands in the put through deals today for VND676.879 billion or VND17,480 each, lower than yesterday put-through price of VND17,800 each. Not such eye catching trading as HBB shares in the Hanoi Stock Exchange but in fact, in the past two days, 70.75 million EIB shares were changed hands in the put-through deals.

Other bank MBB also saw 10.5 million shares changed hands in the put-through deals and 2.217 million VIC shares also traded in bloc.

VN Index opened in the red with nearly 3.33 million shares were traded, as both buyers and sellers were less aggressive. The selling pressure sent the index deeper in the negative ground and hit the low of the day just 26 minutes after the open. Then, the buyers sent the market up as fast and steeply as it went down earlier, hitting the high area of the day in also just 25 minutes. After that, market eased a bit before making the final jump to close at the high of the day.

Market indicator share SSI narrow range today, equal for both side but closed up. Other blue chips showed strength including HPG, ITA, ITC, HCM, OGC, PPC, PVF, EIB, MBB, MSN, STB. However,  other heavy weighs BVH, VCB, CTG, VIC were losers.

MSN shares hit the limit-up after the news that the company has successfully arranged a deal of $235 million worth of convertible bonds in both Vietnamese dong and USD.

VN30 gained 4.29 points or 0.89% to 485.18 today. Volume fell 5% to 28.5 million worth of VND650.08 billion.

The broader market breadth turned positive. Among 308 listed firms on HOSE, gainers outpaced losers by 147-100 and 61 stocks unchanged of which 55 hit upper limit and 30 hit lower limit.

Military Commercial Joint Stock Bank (MBB) continued to be the most active stock today with 6.07 million shares traded, closing up 2.1% to VND14,300.

Saigon Thuong Tin Commercial Joint Stock Bank  or Sacombank (STB) ranked second with 5.87 million shares traded, closing up 4.65% to VND22,500.

Vietnam Export Import Commercial Joint Stock Bank (EIB) was in the third place with 2.6  million shares traded, closing up 4.7% to VND17,900.

Vietnam Electricity Construction Joint Stock Corporation (VNE) and Tan Tao Investment – Industry Corporation (ITA) followed with 2.1 million shares and 2.1 million shares, respectively.

On the Hanoi Stock Exchange, the HNX closed up 1.59 points or 2.37% to 68.68. Trading volume rose 51.29% to 84.4 million shares traded for VND691.55 trillion of which only 2.1 million shares worth VND44.18 billion were changed hands in put-through deals.

Market breadth was broadly negative with 154 gainers, 180 losers and 60 flat issues.

Hanoi Building Commercial Joint Stock Bank (HBB) continued to led the market in volume with 21.18 million shares changed hands, closing up 5.3% to VND6,000.

VNDIRECT Securities Corporation (VND) ranked second with 5.26 million shares traded, closing up 3.4% to VND9,200 each.

PetroVietnam Construction Joint Stock Corporation (PVX) was in the third place with 4.9 million shares changed hands, closing up 1% to VND9,700.