Bullish sentiment boosts VN-Index to breach 1,400 threshold
The market rose sharply on Wednesday morning, with the market benchmark hitting the key psychological level of 1,400 points again after hovering under this threshold for a long time.
The VN-Index on the Hồ Chí Minh Stocks Exchange (HoSE) jumped 18.42 points, or 1.32 per cent, to 1,410.05 points. The market breadth was positive with 319 stocks increasing, while 118 inched lower.
The liquidity was also higher than yesterday as investors poured more than VND13.8 trillion (US$606.4 million) into the southern bourse, equivalent to a trading volume of over 480.9 million shares.
The index's strong gain was driven by recoveries of many large-cap stocks across all sectors. Of which the VN30-Index climbed 20.21 points, or 1.36 per cent, to 1,502.82 points.
Twenty-eight in the VN30 basket rose, while only one declined and one ended unchanged.
Real estate, bank and energy stocks dominated the market's trend, with Vinhomes leading the group, up more than 2 per cent.
Other stocks contributing to the uptrend were PetroVietnam Gas (GAS), Vietcombank (VCB), Vingroup (VIC) and VPBank (VPB). All these stocks rose in a range of 1.3 - 3.08 per cent.
On the Ha Noi Stock Exchange (HXN), the HNX-Index also increased 4.74 points, or 1.19 per cent, to 402.55 points.
Foreign investors were back to the market, with a net buy value of nearly VND152 billion on HoSE.