VN-Index adds little due to low liquidity

Vietnam’s benchmark VN-Index, which tracks 215 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, gained 0.07 percent on March 29 as investors were pleased with small purchases.

The index finished at 505.67, adding 0.37 points as more than 37.74 million shares, worth VND1.4 trillion changed hands.

Among the index members, 99 advanced, 70 fell, and 50 were flat. Most banking shares, except Viet Nam Joint Stock Commercial Bank for Industry and Trade (CTG), which remained unchanged, saw declines.

The list of gainers was led by RangDong Plastic Joint-Stock Company (RDP), and Telecommunications Industry Electronics Joint Stock Company (TIE). Both added up the maximum daily allowed limit of 5 percent to VND23,100 and VND25,200 respectively.

Sugar maker, Société De Bourbon Tay Ninh (SBT) followed with an increase of 4.96 percent to VND12,700.

Saigon Security Inc. (SSI) was the most active stock in volume as more than 2.37 million shares were traded at VND45,000. The country’s largest brokerage closed down 2.81 percent.

Saigon Commercial Bank, or Sacombank (STB), which gave up 0.45 percent, came next with 1.97 million shares being traded at VND22,100.

Hanoi-based Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) was next with 1.18 million shares as it closed at VND41,400, up 4.81 percent.

DESCON Construction Corporation (DCC), which lost the 5 percent maximum daily limit to VND24,700, was the biggest loser. Next were two companies located in Dong Nai Province, Cuongthuan Investment Corporation (CTI), which eroded 4.96 percent to VND23,000, and Tien Len Steel Corporation Joint - Stock Company (TLH), which gave up 4.84 percent to VND29,500.

Hanoi’s HNX-Index dropped 0.01 percent, or 0.01 points, to close at 163.75. Trading volume on the bourse reached 26.1 million shares, worth VND867.8 billion.

The UPCoM-Index climbed 3.5 percent, or 1.54 points, to finish at 45.56 points. A total of 175,150 shares traded at VND2.7 billion.

By Thuy Doan

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