Market rebounds, VN-Index gets closer to 1,400 point-level
Market rebounds, VN-Index gets closer to 1,400 point-level
The market inched higher on Friday morning as large-cap stocks rose.
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose 5.47 points, or 0.39 per cent, to 1,397.32 points, claiming back all losses sustained in the last two sessions.
The market's breadth was positive with 230 stocks climbed, while 170 stocks declined. However the liquidity was lower than yesterday, with just VND10.7 trillion (US$471.4 million) being poured into the southern market, translating into a trading volume of over 387.7 million shares.
The index's recovery was supported by large-cap stocks in manufacturing, banking and real estate sectors. The VN30-Index, which tracks 30 biggest stocks on HoSE, gained 6.66 points, or 0.44 per cent, to 1,510.04 points.
Of the VN30 basket, 23 stocks edged higher, while six slid and one stayed unchanged.
Hoa Phat Group (HPG) led the market's uptrend this morning, up 1.23 per cent. It was followed by Orient Commercial Joint Stock Bank (OCB) and Sabeco (SAB), up 4.68 per cent and 1.5 per cent.
Vingroup (VIC) and PetroVietnam Gas (GAS) also contributed to the rally, up 0.43 per cent and 0.63 per cent, respectively.
On the Ha Noi Stock Exchange (HNX), the HNX extended its uptrend with a rise of 0.44 points, or 0.11 per cent, to 385.28 points.
However, foreign investors continued to flee from the market after net selling a total value of over VND75.6 billion on both main exchanges.
