VN-Index slightly recovers on large-cap stocks

A customer picking Vinamilk products at a super market. The dairy company led the bullish trend yesterday with a gain of nearly 6.2 per cent. - Photo vinamilk.com.vn

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose by 1.64 points, or 0.11 per cent, to 1,492.15 points. The index lost 7.25 points, or 0.48 per cent, on Wednesday.

The market, however, was negative with 179 stocks increasing, while 261 declined. Liquidity was also lower than the previous session, of which more than VND21.8 trillion (US$954.8 million) was poured into the southern market, equivalent to a trading volume of over 684.5 million shares.

The index's recovery was thanks to gains in pillar stocks, especially in the manufacturing sector. Accordingly, the VN30-Index inched up 8.3 points, or 0.55 per cent, to 1,508.53 points.

Nineteen of the 30 biggest stocks in capitalisation on HoSE posted gains yesterday, while only nine slid and two ended flat.

Data compiled by vietstock.vn showed that Vinamilk (VNM) was the biggest gainer yesterday, leading the bullish trend with an increase of 6.17 per cent.

Stocks in realty and banking sectors also contributed to the uptrend. These stocks included Vincom Retail (VRE), Vietinbank (CTG), VPBank (VPB), Becamex (BCM) and Techcombank (TCB), up in a range of 0.81-2.92 per cent.

The benchmark also received support from Viglacera Corporation (VGC) as the company's shares hit the maximum daily gain of 7 per cent.

However, gains were capped by lingering selling pressure in some other big stocks with PV Gas (GAS) losing the most, down 1.63 per cent. It was followed by Masan Group (MSN), Hoa Phat Group (HPG), Development Investment Group JSC (DIG) and Sacombank (STB).

Meanwhile, FLC Group (FLC) hit the floor price for the fourth consecutive session.

On the other hand, the HNX-Index on the Ha Noi Stock Exchange (HNX) decreased by 1.57 points, or 0.35 per cent, to 449.62 points.

During the session, nearly 121 million stocks were traded on HNX, worth over VND3.3 trillion.

Foreign investors flocked into the market after net buying a total value of VND333.49 billion on both main exchanges. Of which, they net bought a value of VND337.94 billion on HoSE, while net sold a value of VND4.45 billion on the northern bourse.