Shares soar on the rise of pillar stocks

An investor at a Sacombank office in HCM City. Sacombank shares (STB) rose 7 per cent on Friday. — Photo courtesy of the bank

HÀ NỘI — Vietnamese equities closed higher on Friday thanks to the strong growth of blue chips.

On the Hồ Chí Minh Stock Exchange, the VN-Index gained 4.22 per cent, to close Friday at 1,080.01 points.

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

Liquidity declined compared to the previous session with more than 1 billion shares worth VNĐ17.9 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 Việt 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 per cent to close at 1,092.99 points.

In the VN-30 basket, property giant Vinhomes (VHM), Vietinbank (CTG), Hoà Phát Group (HPG), Khang Điền House (KDH), Phát Đạt Real Estate (PDR), SSI Securities Inc (SSI), Sacombank (STB) all hit the daily limit  gain of 7 per cent.

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 Việt Nam (BID), VietinBank (CTG), Viet Nam International Commercial JS Bank (VIB) and Saigon-Hanoi Commercial JS Bank (SHB), and Tiên 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 Việt Nam 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 Hà Nội Stock Exchange, the HNX-Index rose 2.35 per cent to close at 215.96 points.

Trading value on the northern exchange reached VNĐ1.8 trillion, with trading volume of 135.2 million shares.