Shares soar on the rise of pillar stocks

Vietnamese equities closed sharply higher on Friday thanks to the strong growth of blue chips.
Shares soar on the rise of pillar stocks ảnh 1 Green color covers the market on December 2.

On the Ho Chi Minh Stock Exchange, the VN-Index gained 4.22 percent, to close Friday at 1,080.01 points.

It had lost 1.16 percent, to close Thursday at 1,036.28 points.

Liquidity declined compared to the previous session with more than 1 billion shares worth VND17.9 trillion (US$734.6 million) traded in the southern market.

The market breadth was positive with gainers outnumbering losers by 361-92. Another 59 closed flat.

In the near future, the market will need more time to absorb the supply and find a new equilibrium. It is expected that VN-Index will be actively supported when it returns to the range of 1,000 -1,020 points and recovers. Investors need to slow down and observe the cash flow's support signal, said Viet Dragon Securities Co.

Blue chips led the market uptrend. All 30 out of the top 30 shares by market value and liquidity on the HoSE gained value.

The VN-30 Index, tracking the 30 biggest stocks on HoSE, rose 4.83 percent to close at 1,092.99 points.

In the VN-30 basket, property giant Vinhomes (VHM), Vietinbank (CTG), Hoa Phat Group (HPG), Khang Dien House (KDH), Phat Dat Real Estate (PDR), SSI Securities Inc. (SSI), Sacombank (STB) all hit the daily limit gain of 7 percent.

In the banking group, all stocks gained ground, fostered by strong buying force, with gainers including Military Bank (MBB), Techcombank (TCB), Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID), VietinBank (CTG), Vietnam International Commercial JS Bank (VIB) and Saigon-Hanoi Commercial JS Bank (SHB), and Tien Phong Bank (TPB).

Securities stocks increased towards the end of the session. VN-Index's gain was significantly broadened as securities stocks climbed strongly, such as VNDirect Securities Corporation (VND), Saigon-Hanoi Securities JSC (SHS), Viet Capital Incorporation (VCI), Agribank Securities Corporation (AGR) and APG Securities Joint Stock Company (APG).

Energy stocks also performed positively with gainers such as Vietnam National Petroleum Group (PLX), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD) and Drilling Mud Joint Stock Corporation (PVC).

On the Hanoi Stock Exchange, the HNX-Index rose 2.35 percent to close at 215.96 points.

Trading value on the northern exchange reached VND1.8 trillion, with trading volume of 135.2 million shares.