Shares recover, boosted by material and bank stocks
Shares recover, boosted by material and bank stocks
The market rebounded on Monday morning, helped by gains in large-cap stocks.
On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index rose 0.67 per cent to 1,250.17 points despite the market's breadth remaining negative. During the morning session, 166 stocks increased while 247 stocks declined.
The market liquidity was also lower as nearly VND13.3 trillion was poured into the southern bourse, equivalent to a trading volume of over 456.86 million shares.
The recoveries of large-cap stocks were the main force driving the market's rally.
The VN30-Index, which tracks 30 biggest stocks in market capitalisation in HoSE, jumped 1.4 per cent to 1,359.47 points. Of the VN30 basket, 21 stocks rose while only nine slid.
Vietnam Dairy Products JSC (Vinamilk, VNM) led the market's recovery as the shares inched 6.32 per cent higher this morning. It was followed by Hoa Phat Group (HPG) and Vinhomes JSC (HNM) with gains of 3.78 per cent and 2.06 per cent, respectively.
On the Ha Noi Stock Exchanges, the HNX-Index also posted a rise of 0.13 per cent to 280.22 points. The recovery was boosted by large-cap stocks as the HNX30-Index jumped 0.46 per cent to 418.97 points.
In the morning trade, foreign investors were net buyers on HoSE with a value of VND118.52 billion, while they net sold a value of VND715.84 million on HNX.
