Shares enjoy gains, boosted by securities stocks and giant Masan Group
Shares enjoy gains, boosted by securities stocks and giant Masan Group
Stocks experienced substantial gains as Masan Group (MSN) reached its daily price limit, while securities stocks exhibited a turnaround and upward movement.
An office of FPT Securities Co (FTS). FTS approached the limit, increasing by 6.72 per cent yesterday. Photo FTS |
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased 0.68 per cent, to close at 1,269.98 points.
The breadth of the market was positive today, as 212 stocks declined while 258 ticked up.
Liquidity remained at a high level as the trading value on the southern bourse stayed above VNĐ24 trillion (US$792 million), equivalent to a trading volume of over one billion shares.
The VN30-Index, which tracks the 30 biggest stocks on HoSE, also closed higher at 1,280.17 points, up 0.92 per cent.
At the upper price limit of VNĐ75,600 per share, retail giant Masan Group Corporation (MSN) reached its highest level in the past five months since October 2023. Additionally, with a trading volume of nearly 13 million units Tuesday, MSN recorded its highest liquidity session since listing.
According to the latest report from Bảo Việt Securities Co (BVSC), MSN's profits are forecast to rebound strongly from a low base. BVSC projects 2024 consolidated net revenue to reach VNĐ90.4 trillion (a 15 per cent increase) and net profit to reach VNĐ1.65 trillion, nearly quadrupling the low base of 2023.
The main growth drivers will come from steady growth of consumer business segment Masan Consumer Holdings, while retail segment WinCommerce continues to improve operational efficiency, aiming to achieve its first positive operational profit. Other segments, including Masan MeatLife and Masan Hi-Tech Materials, are narrowing losses, reducing the overall profit burden for the whole group.
Returning to the overall market, another positive highlight comes from the securities stocks group, as they collectively reversed the trend and showed signs of strength. Vietinbank Securities (CTS) hits the upper limit, reaching its highest level since January 2022. FPT Securities Co (FTS) approached the limit, increasing by 6.72 per cent, BIDV Securities Corp (BSI) rose by 4.3 per cent to set a new record at VNĐ60,500 per share, and MB Securities Co (MBS) increased by 3.5 per cent.
The HNX-Index on the Ha Noi Stock Exchange (HNX) lost 0.01 per cent, to 237.35 points.
During the session, over 80.2 million shares were traded on the northern exchange, worth VNĐ1.5 trillion.
