Market inches higher on pillar stocks
Market inches higher on pillar stocks
Markets settled higher on Tuesday, boosted by gains in large-cap stocks as investor sentiment improved.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 20.79 points, or 1.41 per cent, to 1,492.75 points. The index recovered after falling nearly 30 per cent in the previous session.
The market’s breadth was positive with 266 stocks climbing, while 164 stocks slid. However, liquidity decreased by 26.7 per cent compared to the last trade. Of which 66.4 million shares were traded on HoSE, worth nearly VND19.2 trillion (US$842.5 million).
The benchmark’s recovery was thanks to strong gains in large-cap stocks, with bank stocks rebounding after strong sell-off in the previous session. The VN30-Index, tracking 30 biggest stocks on the southern bourse, jumped 22.29 points, or 1.48 per cent, to 1,527.36 points.
Twenty-seven stocks of the VN30 basket increased, while only three stocks plunged.
Of the top five stocks influencing the index’s rally trend, Masan Group (MSN) was the biggest gainer yesterday with a rise of 5.87 per cent. It was followed by Vinhomes (VHM), BIDV (BID), Vingroup (VIC) and Vietcombank (VCB). These stocks were up at least 1.16 per cent.
Other stocks supporting the benchmark were Vincom Retail (VRE), Novaland (NVL), Becamex (BCM), VPBank (VPB), Vietinbank (CTG), Sacombank (STB), PV Gas (GAS), and Sabeco (SAB).
On the Ha Noi Stock Exchange (HNX), the HNX-Index also bounced back, up 2.83 points, or 0.67 per cent, to 423.84 points.
During the trading session, investors poured nearly VND1.65 trillion into the market, equivalent to a trading volume of 52.5 million shares.
Meanwhile, foreign investors were net buyers on the market, with a net value of VND969.71 billion. Of which, they net bought a value of VND976.78 billion on HoSE, while net sold a value of VND7.07 billion on HNX.
