Shares gain on bottom purchases

Shares gain on bottom purchases.

Vietnamese shares recovered on Friday as the sharp fall from the previous sessions sent stocks down to attractive prices, thus triggering investors to buy in low.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0.32 percent, finishing Friday at 1,389.24 points.

It had lost 0.65 percent to close Thursday at 1,384.77 points.

The market breadth was neutral as 216 stocks declined while 217 rose and 51 ended flat.

The market’s liquidity was high with nearly 798 million shares traded on the southern market, worth VNĐ21.6 trillion (US$949 million).

The 30 biggest stocks tracker, VN30-Index, lost 0.04 percent to finish at 1,488.71 points.

Of the VN30 basket, 15 stocks increased while 13 decreased.

In the VN-30 group, The Việt Nam Rubber Group (GVR) and Sabeco (SAB) gained more than 3 percent. Phát Đạt Real estate (PDR) posted an increase of over 2 percent, Vinamilk (VNM), Khang Điền House (KDH), Novaland (NVL), and Phú Nhuận Jewellery (PNJ) all surpassed 1 percent.

Real estate stocks were strong supporters of the market. Many stocks hit the daily limit gain of 7 percent, such as Sông Đà 1.01 Joint Stock Company (SJC), Hà Tây Trading Joint Stock Company (HTT), PVC Petro Capital & Infrastructure Investment JSC (PTL), Sài Gòn Thương Tín Real Estate JSC (SCR), Licogi 16 Joint Stock Company (LCG), VRC Real Estate and Investment JSC (VRC) and Thủ Đức Housing Development Corporation (TDH).

Nam Long Group (NLG), HDL Commercial and Investment JSC (HLD) gained more than 6 percent. An Gia Real Estate Investment and Development Corporation (AGG), COMA 18 Joint Stock Company (CIG), and Louis Land JSC (BII) all gained more than 5 percent.

On a sector basis, 15 out of 25 sector indices on the market gained ground, including real estate, insurance, retail, oil and gas, agriculture, rubber production, food and beverage, seafood processing, and construction.