BLUE-CHIP REBOUND SENDS VN-INDEX LEAPING

The VN-Index rises by 6.95 points to close today’s session at 1,217.25, supported by a recovery in blue-chip stocks - PHOTO: ARCHIVES

HCMC – Stronger demand for blue-chip stocks led to a market rebound, with the VN-Index adding seven points today, April 17, said local media reports.

The Hochiminh Stock Exchange saw 261 stocks gaining and 174 others losing. The VN-Index edged up by 6.95 points, or 0.57%, against the previous day to 1,217.25.

More than 807.7 million shares worth VND21.6 trillion were transacted on the market, slightly down by volume yet up by 11% by value compared to the previous session. Block deal transactions contributed around VND4.6 trillion to the overall value.

Blue-chip stocks staged a turnaround by the end of the session, with 18 tickers closing in positive territory after several had fallen in the morning.

VIC led the gains, adding nearly three points to the VN-Index. The stock surged by 4.6% to VND71,000 per share, the strongest performer among blue chips, with over 8.06 million shares traded.

Other notable gainers included PLX, LPB, BVH, GVR, VJC and SSB, which rose by between 2.5% and 3.5%.

On the downside, VCB slipped by 2% to VND58,100 per share after a late-session pullback.

Other laggards included BID, VIB, SAB and VPB, with modest losses of 0.4% to 1.5%. BCM, which hit its floor price earlier in the day, recovered to close at the reference price of VND53,500.

Several mid- and small-cap stocks also stood out, particularly in the export and logistics sectors, where bottom-fishing drove GIL, GMD, and VNL to close at their ceiling prices. Other notable winners were THD, GEE and CRC, which also ended the session at their daily upper limits.

On the northern bourse, the HNX-Index trimmed losses in the afternoon and edged slightly above the reference level in the final minutes of trading.

At the close, the index added 0.17 point, or 0.08%, to 209.58 points, with 98 stocks advancing and 61 declining. Trading volume reached over 54.3 million shares, with a total value of VND848.1 billion. Block deals contributed another 2.22 million shares worth VND25.4 billion.

Source: The Saigon Times