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Stocks gain on late trades   2012-04-25 - VNA

Investors rushed to buy low-valued shares during Apr. 24 afternoon's session, rescuing both stock indices from another losing day.

On the HCM Stock Exchange, the VN-Index closed the day up 0.1 percent from Apr. 23 at 465.65 points. Both market volume and value increased 33 percent, totalling 88.3 million shares worth a combined 1.36 trillion VND (64.5 million USD).

Gainers largely outnumered losers by 156-79 with 69 codes hitting the ceiling prices. Many fell in the morning but rose to the ceiling in the afternoon, most of which were real estate shares including Hoang Anh Gia Lai (HAG), Tu Liem Urban Development (NTL), Ba Ria - Vung Tau House Development (HDC), Development Investment Construction (DIG) and Investment and Trading of Real Estate (ITC).

Gains by over half of the 30 leading shares in market value and liquidity pushed the VN30 Index up 0.24 percent to 534.89 points.

SACOM Development and Investment Corp (SAM) was still the most active stock in the afternoon with 3.3 million shares traded, surging 4.71 percent to 8,900 VND.

The sense of precaution shadowed the market in the morning session but the slight corrections in the past few days after hitting a nearly one-year high strengthened the belief that another upward trend was taking shape, analysts of FPT Securities Co wrote on the company's website on Apr. 24.

The petrol price hike and low CPI did not affect the market much. Analysts said the most important issue now was money flow. If money was not withdrawn abruptly from the market, the uptrend would likely be sustained, but not massively in all stocks as before.

On the Hanoi Stock Exchange, the HNX-Index earned another 0.98 percent to close the day at 78.57 on a turnover of 733 billion VND (35 million USD), up 20 percent from Apr. 23's total value.

Advancers almost doubled decliners with PetroVietnam Construction (PVX), the most active stock with over 6 million shares exchanged, rising 1.75 percent to close at 11,600 VND.

Foreign investors were net sellers on both exchanges on Apr. 24, unloading a combined 33.5 billion VND (1.6 million USD) worth of shares.

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