VN-Index rises for fourth day

Investors watch market movements at the SSI trading floor in Hà Nội. - VNS Photo Đoàn Tùng

The benchmark VN-Index on the HCM Stock Exchange (HOSE) gained 0.17 per cent to settle at 1,121.54 points, falling from the intraday high of 1,129.89 points. It advanced by 0.46 per cent to close Tuesday at 1,119.61 points.

Meanwhile, the HNX Index on the Hà Nội Stock Exchange (HNX) inched up 0.60 points to end at 128.05 points. The index edged up 0.88 per cent to end at 127.29 points on Tuesday.

The UPCOM Index on the Unlisted Public Company Market (UPCoM) gained slightly 0.03 per cent to finish at 60.09 points. It rose 0.55 per cent to stand at 60.07 points on Tuesday.

More than 311.1 million shares were traded on the three local exchanges, worth VNĐ9.2 trillion (US$406.2 million).

Market trading conditions were quite balanced yesterday, with 321 declining stocks against 330 gainers, while 796 other stocks remained unchanged.

Only 11 of the 30 largest shares by market capitalisation advanced in the VN30 Index.

The VN30 Index was up 0.19 per cent to 1.108,23 points, with more than 232.6 million shares exchanged, worth VNĐ7.9 trillion.

Financial-banking and oil stocks were the best-performing among the 20 sectors in the stock market, with the banking and energy industry indices advancing 2 per cent and 2.25 per cent, respectively, according to vietstock.vn.

Banking Stocks, including the big gainers of Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), up 4.67 per cent; Military Commercial Joint Stock Bank (MBB), rising 4.88; and JSC Bank for Investment and Development of Việt Nam (BID), gaining 2.23, attracted cash flow and led the market.

In addition, a number of blue chip stocks and petroleum stocks also supported the uptrend of the index, including PetroVietnam Technical Services Corporation (PVS), advancing 1.64 per cent and PetroVietnam Drilling & Well Services Corporation (PVD), up 4.55 per cent.

Foreign investors yesterday were net sellers of VNĐ413.9 billion on HOSE, focusing on HPG (VNĐ 102.7 billion), VNM (VNĐ 68.1 billion) and BID (VNĐ 34.5 billion). In addition, they sold a net of VNĐ 54.78 billion on the HNX.

According to BIDV Securities JSC (BSC), the market was in a period of accumulation with the division in the industry. However, thanks to the return of cash flow, the index has remained in the green and approached the short-term target of 1,130 points.

“Investors should observe stocks which attracted cash flow such as HPG, MBB, SSI,” BSC said in its daily report.

According to Bảo Việt Securities Company (BVSC), VnIndex can still retest the old peak. However, the index will have to struggle to increase due to the divergence.

“VnIndex is likely to move sideways around the old peak in the next few days,” it said.