An investor looks at online stock price quotations on a computer screen at a securities firm in HCMC - Photo: Kinh Luan
Different from the performance on Monday, the southern bourse on Tuesday witnessed more stocks rising especially large-cap stocks that pulled the VN-Index up 1.78 points, or 0.46%, to 385.1.
While Monday saw two-thirds of stocks in the VN30 basket declined, on Tuesday saw two-thirds of them increase and actually there were only three stocks of PVDrilling (PVD), Sacombank (STB), and Vietcombank (VCB) falling.
Among the big stocks, Tan Tao Investment Industry Corp. (ITA) and Kinh Do Corp. (KDC) rose to the ceiling prices at the end of the session, at VND4,000 and VND40,500 respectively, due to stronger foreign demand.
Foreign investors bought over one million ITA shares out of 2.78 million shares traded on bourse. They also acquired all 577,000 KDC shares on offer via matching orders and put-through on Tuesday.
Hoang Anh Gia Lai Corp. (HAG) rose by VND800 to VND20,000 per share although it tumbled to the floor price on Monday. Bank stocks were mixed with EIB, CTG, and MBB rising, and STB and VCB declining. Therefore, the VN30 index rose 2.74 points to 455.1.
The trading volume via matching totaled over 21 million securities worth VND253.5 billion, rising 13.5% and 4.7% from the previous session. Put-through transactions registered 3.5 million shares traded worth VND82.5 billion.
The HNX-Index of the Hanoi bourse inched up 0.45 point to 51.9 on Tuesday. Investors traded totally 22.5 million shares worth VND124.5 billion, falling 11% in volume and 11.4% in value.
The markets, therefore, are moving in a narrow range while the macro economy has showed no signs of improvement.
The Saigon Times Daily
Source: http://www.saigonmoney.com/2012/11/21/market-rallies-on-rising-large-cap-stocks/
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