Market build's on blue chip gains (8/10/12)

[xiuchic]

The share market closed in the green this morning on both stock exchanges but no improvement was seen in trading volumes and values.

The benchmark VN-Index edged up 0.86 per cent to 391.48 points but the value of trades totalled just VND325 billion (US$15.5 million) on a volume of 24.5 million shares.

Most blue chips rose, tracked by an increase of almost 1 per cent in the VN30, which measures the performance of the top 30 shares on the southern bourse.

Property developer Hoang Anh Gia Lai (HAG) and PetroVietnam Finance (PVF) hit ceiling prices while others, such as dairy giant Vinamilk (VNM), real estate VinGroup (VIC), insurer Bao Viet Holdings (BVH), Vietinbank (CTG) and Phu My Fertiliser (DPM) gained from 1.2-2 per cent.

Shares of Tan Tao Investment Industry Corp (ITA) was the most active code with nearly 2.6 million shares traded, climbing 2.5 per cent to VND4,100 a share.
On the Ha Noi Stock Exchange, the HNX-Index also rose 0.57 per cent to close this morning's session at 54.66 points.

Only 17.2 million shares, worth VND115 billion ($5.5 million), were exchanged.
With over 3.5 million shares changing hands, PetroVietnam Construction (PVX) was the most heavily traded stock on the Ha Noi exchange. PVX shares soared to a ceiling price of VND4,300 a share.

Trading will resume at 1pm.

[xiuchic]

Shares closed in positive territory yesterday on both of the nation's stock exchanges, with the VN-Index rose by 1.36 per cent over the prior session to close at 393.45 points.
The value of trades on the HCM City Stock Exchange rose slightly over the previous day to VND496.8 billion (US$23.6 million) on a volume of 35.6 million shares.
The VN30 Index, which tracks the performance of the 30 leading shares on the southern bourse, finished the day at 460.26 points, a gain of 1.56 per cent.

Among these blue-chip shares, only Sacombank (STB) declined, shedding 0.5 per cent. Real estate developers Hoang Anh Gia Lai (HAG), Dic Corp (DIG), Becamex Infrastructure (IJC) and Tu Liem Urban Development all rose to their ceiling prices, as did PetroVietnam Finance (PVF), commercial baker Kinh Do (KDC), financial conglomerate Ocean Group (OGC) and Saigon Securities Inc (SSI).

On the Ha Noi Stock Exchange, the HNX-Index also rose yesterday by 1.6 per cent to close at 55.21 points. The value of trades leaped by 62.6 per cent over last Friday's level to VND238.8 billion ($11.3 million), as 33.5 million shares changed hands.
The HNX30 Index increase by an even more impressive 2.6 per c
ent to 103.36 points.
Last week, several businesses announced positive earnings, including real estate developers HCM City Infrastructure Investment (CII), FLC (FLC) and DIG.

"It led to some recovering sessions last week and hints at a short-term rally for some specific stocks," PetroVietnam Securities Co analyst Dao Hong Duong wrote in a note.
He predicted the technical rally would extend for one or two more sessions this week but said the HNX-Index would face many challenges exceeding 57 points. "Blue-chips on both bourses hold the risk of plummeting as the rally ends," he said.

Beginning this month, enterprises will announce their third-quarter earings, providing a guide for the market. Typically, those that announce earliest have positive results, Duong said.
"Investors can take the advantage of some rising sessions to sell declining stocks and buy good shares in some decreasing sessions, including CII, DIG, KDC, PetroVietnam Low Pressure Gas (PGD), PetroVietnam Southern Gas (PGS), Petroleum Equipment Assembly And Metal Structure (PXS) and An Phat Plastic and Green Environment (AAA)," he said.