Market continues to edge higher despite rising selling force
Market continues to edge higher despite rising selling force
The stock market rose in a tight range on Friday morning, and was on track to gain for a tenth day in a row.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) increased by 2.18 points, or 0.16 per cent, to 1,347.73 points. However the market breadth was negative as 175 stocks climbed while 180 declined.
The gain was mostly driven by large-cap stocks in real estate, material and banking sectors. The VN30-Index, which tracks 30 biggest stocks in market capitalisation on the southern market, inched up 0.03 per cent to 1.486.96 points.
Of the VN30 basket, ten stocks jumped while 19 slid, and one stayed unchanged.
Vinhomes JSC (VHM) was leading the gain with a rise of 1.88 per cent, followed by Vinamilk (VNM), up 1.27 per cent, and Vietinbank (CTG), up 1.32 per cent.
Meanwhile, the selling force kept spreading across banking, utilities, retail and material sectors.
Many pillar stocks witnessing big losses included Vietcombank (VCB), VPBank (VPB) and Hoa Phat Group (HPG).
The HNX-Index on the Ha Noi Stock Exchange (HNX) also inched higher this morning, up 0.29 per cent to 326.4 points.
