Market rebounds on back of large-cap stocks
Market rebounds on back of large-cap stocks
The stock market rose on Tuesday morning after losses for three consecutive sessions.
On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index inched up 18.73 points, or 1.33 per cent, to 1,432.32 points. It had previously lost nearly 72 points over the last three sessions.
The market breadth was positive with 310 stocks climbing, while 122 declined.
Liquidity remained high but still lower than the previous session. The trading value on the HoSE dropped 19 per cent to nearly VND11.7 trillion (US$506.2 million).
Foreign investors continued to net buy on the southern market, with a value of VND265.22 billion.
The benchmark's recovery was down to gains in pillar stocks across all sectors. The VN30-Index, tracking the 30 biggest stocks on the HoSE, increased by 16.14 points, or 1.09 per cent, to 1,497.66 points.
Of the VN30 basket, 29 stocks edged higher, while only one stock slid.
Data compiled by the Vietstock website showed that Vietcombank was the biggest gainer on Tuesday morning, up 3.77 per cent.
It was followed by Vinhomes (VHM), BIDV (BID), PetroVietnam Gas (PV Gas, GAS) and Vingroup (VIC), which all rose in a range of 1.04 to 2.98 per cent.
The market also received support from other large-cap stocks, including Vincome Retail (VRE), Hoa Phat Group (HPG), Techcombank (TCB) and Vietinbank (CTG).
On the Ha Noi Stock Exchange (HNX), the HNX-Index increased by 5.3 points, or 1.22 per cent, to 441.15 points.
