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Large caps push VN-Index up

Released at: 08:40, 29/12/2015 Stock Market Watch

Large caps push VN-Index up

High volume shares tumble on December 28 while large caps come to the rescue.

by Hung Khanh

The HSX traded in positive territory on December 28 with large caps playing a leading role. The VN-Index increased 2.23 points (0.39 per cent) to reach 569.90 points. Liquidity was significantly better than last week, with trade via order matching of 101 million shares worth VND1.5 trillion ($66.73 million). The market saw 84 shares increase and 138 decrease.

The VN30-Index, meanwhile, finished 3.84 points (0.66 per cent) higher, at 583.16 points, with liquidity of VND791 billion ($35.19 million) from order matching, accounting for 50 per cent of total market liquidity. Only eight shares rose in the VN30-Index but they were large caps with high prices, which pushed up the index. MSN rose 5 points (6.67 per cent), with almost 2 million shares changing hands, in which foreign investors sold 1.1 million shares and bought 543,120, with the market reacting quite positively to information that the Singha Group from Thailand will purchase MSN for $1.1 billion next month.

GMD, meanwhile, increased 1.3 points (3.19 per cent), VNM 3 points (2.42 per cent), and FPT 0.3 points (0.63 per cent).

The market can be grateful large caps had a good day as shares with the highest trade volume all fell, such as DHM, by 6.45 per cent, HAR 5.88 per cent, OGC 4.55 per cent, HAG 2.75 per cent, and FLC 1.27 per cent.

Banking shares performed poorly, with only ACB increasing in the HNX, while all others closed at their opening price or lost ground, including BID, which fell 0.98 per cent and EIB 0.91 per cent. Low liquidity was common.

GAS ended four days of increases with a 1.87 per cent loss today. PGD, meanwhile, increased.

The Christmas holiday again affected the activities of foreign investors, with net selling of VND2.4 billion ($106,776). The strongest buy by foreign investors was in VIC, with a net VND10.4 billion ($462,696), while HSG was the highest sold, by a net VND1.3 billion ($57,837).

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