Major stocks, especially ROS, lift VN-Index

Investors at MB Securities Co in Hà Nội. — VNS Photo Trương Vị

HÀ NỘI – Shares rebounded on Tuesday on the two national stock exchanges after a flop on Monday, propped up by the strong growth of several major large caps.

The benchmark VN-Index on the HCM Stock Exchange rallied 0. 六 三 per cent to close Tuesday at  八 二 五. 二 四 points, off-setting Monday’s loss of 0. 二 五 per cent.

Large-cap stocks recovered and led the upturn as over half of the top  三0 largest shares by market value and liquidity gained value and  一0 declined.

FLC Faros Construction’s stock (ROS) was the biggest gainer, rising by the daily maximum limit of  七 per cent at VNĐ 一 六 一, 三00 (US$ 七. 一 一) per share. This is the  一 九th consecutive session of gains for the stock, with cumulative growth of  五 二. 六 per cent since the rally began.

Meanwhile, the biggest listed energy company PV Gas (GAS) picked up  二. 四 per cent to settle at VNĐ 六 九, 七00 a share. PV Gas reported nearly VNĐ 一 五. 一 trillion ($ 六 六 五. 二 million) in net revenue in the third quarter, up  九. 四 per cent year-on-year. Its strong Q 三 number came from higher oil price and the elimination of turnaround from Nam Côn Sơn Pipeline in  二0 一 七, which helped double its net profit to VNĐ 一. 九 trillion.

Besides ROS and GAS, many heavyweight blue chips such as Vinamilk (VNM), Mobile World Group (MWG), Bình Minh Plastic (BMP), Vietcombank (VCB), Military Bank (MBB) and brewer Sabeco (SAB) also rose.

According to Viet Dragon Securities Company (VDS), the market trend is still mainly dependent on large-cap movements, as investors have become more cautious and conservative with speculative stocks.

Investors may buy on rumors of earnings results of listed companies. However, the picture of profit is not clear enough to encourage accumulation of stocks at this time and there is a high probability that the VN-Index will decline in November, VDS analysts wrote in the October strategy report.

On the Hà Nội Stock Exchange, the HNX-Index recovered part of its Monday losses, closing up 0. 四 二 per cent at  一0 六. 六 九 points.

Negotiated trade

A total of over  二 二 三 million shares worth a combined VNĐ 六. 七 trillion ($ 二 九 六 million) were traded in the two markets on Tuesday. These figures represented a decrease of  一 五. 五 per cent in volume but an increase of  二 八. 八 per cent in value compared to Monday’s levels.

Strong growth in trading value came from put-through (negotiated) transactions worth a total of VNĐ 三. 五 trillion. Transactions on shares of dairy giant Vinamilk accounted for  八0 per cent of the total.

Over  一 八. 一 million Vinamilk shares worth nearly VNĐ 二. 八 trillion changed hands by foreign traders yesterday.

Earlier, F N Dairy Investment registered to buy nearly  二 一. 七 七 million shares of Vinamilk from October  二 to  三 一 through order matching or put-through trade on the stock exchange. F N Dairy Investment currently holds  一 六.0 四 per cent of Vinamilk’s charter capital. If the transaction is carried out successfully, its ownership in the Vietnamese dairy firm will increase to  一 七. 五 四 per cent.

Vinamilk’s shares have expanded  一 八. 六 per cent this year and are currently traded at around VNĐ 一 四 九,000 a share. – VNS