Phuong Thao
Liquidity on the southern exchange turned healthy with around 72 million shares worth VND1 trillion changing hands, up 20.7% and 17.6% from the session earlier. The put-through market contributed nearly VND134 billion to total turnover, of which STB and SEC saw nearly four million and 1.7 million shares traded respectively.
Viet Capital Securities Company (VCSC) said that favorite large-cap stocks such as BVH, FPT and HPG advanced strongly given strong demand of both foreign and domestic investors. Small caps also caught the market attention with IJC, CLG, BCI and BMC surging between 3.6% and 7%.
“We have seen improving demand within the banking sector with CTG up 4.1% and VCB up1.1%. With current momentum and liquidity, the VN-Index has a chance to break through its current resistance level of 500 points,” VCSC said in its report on Monday.
In terms of sectors, insurance stocks staged the strongest rise, followed by building materials and steel tickers. Meanwhile, most food, beverage and seafood stocks declined slightly.
Maybank Kim Eng Securities Company said that investors were optimistic at positive bad debt trading between Vietnam Asset Management Company and commercial banks.
In addition, foreign participation remained stable despite strong fluctuations of the world market. The investors net bought 2.4 million shares on Monday.
Third quarter business results of listed enterprises, especially industry leaders, were believed to support the uptrend in the coming time. Therefore, the market would continue to extend its rising streak with cash flow running into enterprises with possible good results in the third quarter, it said.
The Hanoi market also increased on Monday as pillar stocks such as SHB and KLF advanced on strong liquidity. The HNX-Index rose 0.45 point, or 0.74%, against the previous session to close at 61.39.
According to Viet Dragon Securities Company, cash flow has improved over the past few days, focusing on stocks that have yet to make strong rise earlier. Therefore, it believed that the market would keep rising in the coming time.
However, from a technical view, the VN-Index may face strong resistance at the range from 500 to 510 points. Therefore, investors should be cautious and consider realizing some profits when the index reaches this level, the broker said.
Đăng ký: VietNam News