Large caps push market up
MWG (up 7.0%) spearheaded the rally as retail investors got upbeat amid market talk that there will be blocks transacted at a large premium between foreign investors, said Viet Capital Securities Company (VCSC). Money flows into MWG further strengthened as investors saw breakout signals in the stock, which pierced through its 100-day moving average after a period of tracking sideways.
In the meantime, there was a sense of widespread positive sentiment as gainers outnumbered laggards by a ratio of 1.4 to 1, with money flowing into small caps as well. Notably, VIC soared 1.9% to VND43,000 a share with over one million shares changing hands. VNM also performed well, adding 0.35% with 0.77 million shares traded.
In the petroleum sector, GAS climbed 0.7% to an intraday high of VND71,000 per share while PVD fell 1.43% to VND27,500 a share amid information about tumbling oil prices on world markets.
“From a technical standpoint, we expect the index to test mid-term resistance in the 695-700-point range,” VCSC said.
Overall, liquidity remained low on the HCMC bourse since there were 125.2 million shares worth a combined VND2.1 trillion (US$95.6 million) traded. Matching transactions totaled 117.7 million shares worth VND1.8 trillion.
The HNX-Index of the Hanoi exchange on October 13 moved sideways, rising 0.53% at 85.34 points.
There were 93 advancers and 76 losers. Investors changed hands 39.72 million shares worth a total of VND418.24 billion. Matched volume was nearly unchanged from the previous session at 39.1 million shares.
Having net bought in two straight sessions earlier, foreign investors shifted to the selling side on the HCMC exchange on October 13. They net sold VND32.8 billion of shares, chiefly CTD with VND27.9 billion, VIC with VND16.3 billion and VCB with VND7.9 billion.
Meanwhile, they picked VNM, HPG and MSN shares worth VND34.6 billion, VND10 billion and VND5.6 billion, respectively.
On the Hanoi bourse, foreigners’ net sales reached VND2.7 billion, mainly VNR with VND2.2 billion and NTP with VND1.7 billion. They acquired VND980 million of BVS and VND900 million of EID.
