Large-cap rally helps lift markets

The market received strong support from large-caps on Tuesday with both the VN-Index and HNX-Index rising.

 

The VN-Index on the Ho Chi Minh Stock Exchange rose 0.28 per cent to close at 969.05 points.

The VN-Index fell 0.92 per cent on Monday.

More than 169.4 million shares were traded on the southern bourse, worth VND4.4 trillion (US$188 million).

Key sectors like real estate, insurance, banking, food and beverage, healthcare and pharmaceuticals, seafood processing and information technology were the major cause for the market upturn.

Prominent gainers during the trading session included PetroVietnam Gas JSC (GAS), up 1.4 per cent to VND104,400 per share, Vincom Retail (VRE), rising 1.7 per cent to VND36,400 per share, Mobile World Group (MWG), climbing by 2.9 per cent to VND97,000 per share.

The petroleum stock group was one of the best performers in the trading session with gainers including PetroVietnam Gas (GAS), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Power Corporation (POW), Binh Son Refining and Petrochemical Company Limited (BSR), Viet Nam National Petroleum Group (PLX) and PetroVietnam Drilling and Well Services (PVD).

Large-cap stocks performed well as the VN30-Index, tracking the 30 largest stocks by market value and trading liquidity, gained 0.15 per cent to 872.21 points.

Seventeen of the 30 stocks in the VN30 basket increased while eleven declined.

On the Ha Noi Stock Exchange, the HNX-Index gained 1.24 per cent to end at 105.10 points.

The northern market index was down 0.54 per cent on Monday.

More than 22.6 million shares were traded on the northern bourse, worth VND350 billion.

Foreign investors today bought a net of VND51.13 billion on the HOSE, focusing on Viet Nam National Petroleum Group (PLX) (VND67.37 billion), Vincom Retail (VRE) (VND34.90 billion) and ceramic firm Viglacera (VND15.79 billion). In addition, they bought a net of VND7.80 billion on the HNX.

According to BIDV Securities Company (BSC), after the correcting session on Monday, the market had an upward session today with positive liquidity.

“BSC expects VN-Index will continue to move in the price range of 960-980 in the coming sessions while waiting for more signals of Fed’s interest rate policy through the semi-annual testimony of Fed chairman Jerome Powell,” the company said in its daily report.

The UPCoM Index on the Unlisted Public Company Market (UPCoM) extended by 0.36 per cent to close at 55.88 points.

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