Market gathers momentum, VN-Index continues to recover
Market gathers momentum, VN-Index continues to recover
The stock market edged higher on Wednesday morning as investors' risk appetite returned.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 6.01 points, or 0.47 per cent, to 1,279.3 points. The market's breadth was positive with 209 stocks increasing while 137 stocks declined.
However, the liquidity continued to slide as nearly VND10.1 trillion (US$437.5 million) was poured into the southern market, equivalent to a trading volume of over 271.1 million shares.
The rebound was mainly driven by some pillar stocks in real estate and banking sectors. The 30 biggest stocks tracker VN30-Index also climbed 0.45 per cent to 1,417.33 points. Of the VN30 basket, 14 stocks inched down while 14 stocks jumped and two stocks stayed unchanged.
Real estate stocks led the market's trend with Vinhomes JSC (VHM) being the biggest gainner, up 1.78 per cent, followed by Vingroup JSC (VIC), up 1.65 per cent.
Other stocks witnessing big gains were Techcombank (TCB), Vincom Retail JSC (VRE) and Saigon Beer - Alcohol - Beverage Corporation (SAB). These stocks edged higher in a range of 1.29 - 3.56 per cent.
However the gain was capped by losses in some large-cap stocks led by PetroVietnam Gas JSC (PVGas, GAS), down 1.69 per cent.
On the Ha Noi Stock Exchange (HNX), the HNX-Index also closed higher in the morning session, up 0.62 per cent to 302.98 points.
