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Banking & Finance

October 3: All indexes gain ground

Released at: 15:57, 03/10/2018 Stock Market Watch

October 3: All indexes gain ground

Source: TVSI

Late buying offsets earlier aggressive selling.

by My Van

After a period of aggressive selling in the afternoon session, cash flow returned in the final minutes to help the market recover. The VN-Index had gained 1.61 points (0.16 per cent) at the close, to 1,020.4 points, the HNX-Index 0.29 points (0.26 per cent) to 115.29 points, and the UPCoM-Index 0.13 points (0.23 per cent) to 53.34 points.

Liquidity was lower than yesterday but still at a high level, with an order matching value of VND4.5 trillion ($192.8 million).

ACB, BID, CTG, EIB, MBB, SHB, HDB, TCB and TPB along with bluechips such as VRE, PNJ, MWG, SAB, BHN and FPT rose and gave the market strong support.

Oil and gas, despite strong profit taking throughout the day, saw many stocks recover and rebound towards the end of the session, such as GAS, PVS, PVD and OIL.

Real estate and construction and securities stocks had a mixed day but there were many gainers, including CEO, DIG, FCN, SCR, VCG, PHC, CTS, SSI and VCI.

On HSX, foreigners were net buyers of 1.55 million shares but in terms of value net sold by VND44 billion ($1.8 million). STB was the highest net-bought stock, with VND34.7 billion ($1.4 million), followed by BMP, HPG, KDC and KBC. Conversely, MSN was the most net-sold stock, by VND31 billion ($1.32 million).

Foreigners posted a third successive session of net selling on HNX, by 512,000 shares worth VND12.61 billion ($540,480). CEO and SHB were the most net-bought.

Momentum weakened at the end of the morning session as profit taking pressure came. Only GAS and PXS increased noticeably in oil and gas, while PVS, PVD, PVB, PVT, OIL, BSR and PLX all fell.

Bank stocks such as ACB, BID, CTG, EIB, HDB, TPB and TCB were the pillars of market stability and helped it rise, but momentum had slowed considerably by the end of the day. SSI, VND, SHS and VCI maintained good uptrends thanks to solid Q3 business results.

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