Market sets another weekly gain on bullish sentiment
Market sets another weekly gain on bullish sentiment
The market on Friday was lifted on risk appetite demand from both domestic and foreign investors in the last trading session of the week, with the VN-Index topping the psychological level of 1,200 points again.
Consumers shopping at a store of Winmart, a supermarket chain of Masan Group. The company's shares jumped 2.26 per cent on Friday, supporting the market's uptrend. —Photo masangroup.com |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed the week at 1,207.67 points, a gain of 10.34 points, or 0.86 per cent. It was its highest close in ten months and a weekly gain of 1.8 per cent.
The market’s breadth was tilted into positive territory, with 229 stocks up, while 105 inched lower.
Liquidity remained at a high level but decreased slightly over the previous session. Particularly, the trading value on HoSE fell 3.5 per cent to more than VNĐ21.9 trillion (US$925.3 million), equivalent to a trading volume of over 1.11 billion shares.
The VN30-Index, tracking the 30 biggest stocks on the southern bourse, increased 12.77 points, or 1.06 per cent, to 1,212.45 points.
In the VN30 basket, 25 stocks edged higher, while only four slid and one stock ended flat.
After correcting on Thursday, the Vietnamese stock market rebounded well in the last trading session of the week.
Analysts from the Saigon-Hanoi Securities JSC (SHS) said that given the market’s internal strength, the benchmark VN-Index is likely to continue the uptrend to head towards the first resistance zone of around 1,300 points.
Data compiled by the financial website vietstock.vn showed that Vinhomes (VHM) was the uptrend’s leader, with VHM’s shares up 2.43 per cent. The other two in the trio stocks of Vin family, Vincom Retail (VRE) and Vingroup (VIC), also posted gains of 1.05 per cent and 0.78 per cent, respectively.
In the real estate industry, Novaland (NVL) and Đất Xanh Group (DXG) extended their rallies, up 2.8 per cent and 4.99 per cent.
Also supporting the rallies, Vinamilk (VNM), Masan Group (MSN), PV Gas (GAS), Techcombank (TCB), and VPBank (VPB) climbed in a range of 1.61 to 2.26 per cent.
On the contrary, some large-cap stocks still faced selling pressure, with Sabeco (SAB) leading the fall. The brewer’s shares tumbled by 2 per cent.
The HNX-Index on the Hà Nội Stock Exchange (HNX) also rebounded after losing for two consecutive sessions. The northern bourse’s benchmark close the week at 237.54 points, up 1.9 points, or 0.81 per cent.
During the session, more than 129.6 million shares were traded on HNX, worth nearly VNĐ2 trillion.
The market also received support from the foreign capital flow. Foreign investors continued to net buy VNĐ413.29 billion on HoSE and VNĐ1.95 billion on HNX.
