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Banking & Finance

Banking shares again behind rise on VN-Index

Released at: 16:25, 06/05/2016 Stock Market Watch

Banking shares again behind rise on VN-Index

As with the previous day, large cap banking shares took the VN-Index up with them on May 6.

by Hung Khanh

Trade on May 6 saw the previous day’s trend continue, with the HSX increasing and the HNX declining. On HSX the VN-Index rose 5.01 points (0.83 per cent) and the VN30-Index 2.86 points (0.47 per cent), while on HNX the HNX-Index fell 0.01 points (0.01 per cent) and the HNX30-Index 0.19 points (0.14 per cent).

HSX saw 97 shares increasing and 124 decreasing and HNX saw 92 increasing and 110 decreasing.

The VN-Index saw positive trade from the beginning of the day, increasing almost 6 points to 607.63 at the close of the morning session. The afternoon session also began positively, with the Index increasing to a peak of 608.68 before slipping to 605.18 and then recovering to close at 606.52 points.

Liquidity on HSX was around VND2 trillion ($89.72 million), or 10 per cent lower than the previous day, while liquidity on HNX was some VND600 billion ($26.91 million), 37 per cent higher.

Banking shares again drove the VN-Index higher, with CTG increasing 3.59 per cent, VCB 3.18 per cent, BID 2.29 per cent, and MBB 1.32 per cent. Among smaller banking caps, STB closed at its opening price while EIB finished down 0.93 per cent.

Other large caps finishing up included MSN, by 2.1 per cent, VIC 1.9 per cent and GAS 1 per cent.

VNM increased 0.7 per cent in the morning but finished the day at its opening price.

PHP and PLC were the only large caps to increase on HNX, by 1 per cent. ACB, SQC, VCG and NTP closed at their opening price while PVI and VCS fell 1.6 per cent, SHB 1.5 per cent, and PVS 0.6 per cent.

Foreign investors made a huge contribution to pushing banking large caps up, net buying VCB by some VND33 billion ($1.48 million), MBB VND29 billion ($1.3 million), CTG VND23 billion ($1.03 million), and BID VND8 billion ($358,880).

Over the course of the day they net bought by some VND169 billion ($7.58 million) on HSX while net selling some VND1 billion ($44,860) on HNX.

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