Market ends higher, VN-Index inches closer to 1,190 point-level

Vinhomes Times City urban complex, which is invested by Vingroup, in Ha Noi. Vingroup shares led the market's trend yesterday, up 3.72 per cent. - Photo vinhomesgardeniacity.com

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 0.91 per cent, equivalent to 10.68 points, to 1,186.36 points. The market breadth was back to positive as 270 stocks climbed while 165 stocks declined. It was quite volatile in the morning session as big stocks faced strong selling pressure, limiting the upward trend.

The market's liquidity was also high with over 780.73 million shares being traded on the south bourse, worth nearly VND16.95 trillion.

Earlier, in a daily report to investors, analysts from Bao Viet Securities Co. expected that the VN-Index might fall as it tries to test the resistance level of 1,180 - 1,185 points in this session.

"In general, after recovering from the supportive territory of around 1,150 points, the index continues to fluctuate sideways at 1,150 - 1,200 points. This trend might continue in the near term," Bao Viet said.

"The cash inflows will focus on small-cap and mid-cap stocks. Large-cap stocks will recover some how, but the main trend is still sideways accumulation."

The VN30-Index also increased nearly 10.8 points, equivalent to 0.91 per cent, to 1,190.86 points. Of the 30 biggest stocks in the VN30 basket, twenty rose, of which one stock hit the maximum daily gain of 7 per cent, while eight stocks slid and two stocks stayed unchanged.

Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank, STB) was the stock with the biggest daily gain, up 6.77 per cent.

Real estate, banking and materials stocks continued to dominate the market's trend yesterday. Top five stocks influencing the rally were Vingroup JSC (VIC), Masan Group (MSN), Viet Nam International Commercial Joint Stock Bank (VIB), STB and SeABank (SSB).

SSB shares still maintained their outstanding performance as they hit the biggest daily gain for five consecutive sessions since debuting on HoSE last Wednesday.

Meanwhile, Vietcombank (VCB) posted the biggest loss on Tuesday, down 0.52 per cent. Stocks in retails sectors also had poor performance.

Gas and oil stocks like PetroVietnam Power Corporation (POW) also bounced back in the afternoon session after plunging in the morning trade despite crude prices surging in the global market.

On the Ha Noi Stock Exchange (HNX), the HNX-Index edged higher on large-cap stocks, up 1.8 per cent to 281.14 points. The HNX30-Index climbed 2.17 per cent to 415.47 points.

Domestic investors poured over VND2.78 trillion into the northern market, equivalent to a trading volume of nearly 169.2 million shares.

Regarding foreign investors, they net sold a value of VND196.55 billion. Of which, they net sold a value of VND286.96 billion on HoSE while net bought a value of VND76.67 billion on HNX and VND13.74 billion on UPCOM.