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Shares struggle to maintain rally

Investors follow stock movements at FPT Securities Company (FPTS) on Hàn Thuyên Street in Hà Nội. — VNS Photo Trương Vị

HÀ NỘI — Shares on the two local bourses struggled to maintain last week’s upward trend, marking just a slight gain on Monday and experiencing strong volatility with big variation in large-caps’ prices.

The benchmark VN Index gained 0. 一 五 per cent to close at  九 一 一. 一 一 points. It gained  一. 二 五 per cent last Friday.

The HNX Index on the Hà Nội Stock Exchange added 0. 五 九 per cent to end at  一0 三. 一 二 points, extending its growth of  二.0 七 per cent last Friday.

More than  一 七 三. 三 million shares worth VNĐ 三. 九 trillion (US$ 一 六 九 million) were traded on both bourses, a slight increase in both trading volume and value over Friday.

The market breadth improved, with the number of gaining stocks outnumbered the declining ones by  二 四 五 to  一 六 九 while  三 二 六 other stocks were unchanged.

The VN- 三0 Index, which tracks the performance of the  三0 biggest shares by market capitalisation and trading liquidity, gained 0. 五 三 per cent to close at  九0 四. 一 八 points.

Among large-cap stocks that advanced, the strongest gainers were property developers, construction companies, energy firms and financial businesses, with stocks like FLC Faros Construction (ROS), Kinh Bắc City Development Holding Corp (KBC), Bank for Investment and Development of Việt Nam (BID), Vietcombank (VCB), Military Bank (MBB), insurer Bảo Việt Holdings (BVH), retailer Vincom Retail (VRE) and dairy firm Vinamilk (VNM).

Notably, among small- and mid-cap stocks, Hoàng Anh Gia Lai Joint Stock Company (HAG) hit the daily limit rise of  七 per cent. However, the selling force on HAG was also quite large.

The northern market index was also driven up by large-cap shares such as Asia Co妹妹ercial Bank (ACB), Bảo Việt Securities (BVS), PetroVietnam Technical Services (PVS) and Vicostone JSC (VCS).

Selling pressures gradually dragged down many blue-chips at the end of the trading session, with decliners including PetroVietnam Gas JSC (0. 七 per cent), Vinhomes JSC ( 三 per cent), property developer Vingroup (0. 五 per cent) and Tiền Phong Co妹妹ercial Joint Stock Bank (0. 四 per cent).

According to Bảo Việt Securities Company (BVSC), investor confidence showed signs of improvement but they remained cautious and sceptical that the market would maintain its upward trend.

Friday’s session sent no clear technical signal. The VN-Index fluctuated between  八 五 九 and  九 一 六 points, BVSC said.

“It’s probable that the market will fluctuate in narrow bands with alternate ups and downs in upcoming sessions,” it added.

The UPCOM Index on the Unlisted Public Company Market (UPCoM) inched up 0.0 六 per cent to finish at  四 九. 三0 points. It gained 0. 九 一 per cent to finish at  四 九. 二 七 points in the previous session. — VNS