Market continues recovery while liquidity still remains low
Market continues recovery while liquidity still remains low
Following the previous session's recovery, the VN-Index started the new week positively on the final Monday of July, although liquidity remained at a record low.
An aircraft takes off at Nội Bài Airport in Hà Nội City. Shares of the national airline soared and hit the ceiling on Monday. — Photo laodong.vn |
On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index increased by 4.49 points, or 0.36 per cent, to 1,246.6 points, marking a second consecutive day of gains.
Throughout most of the day, the VN-Index traded above the reference level, maintaining a relatively stable range and closing the session higher.
The market's breadth was positive, with gainers outnumbering losers by 227 to 88. Liquidity on the southern bourse reached a record low of VNĐ11.4 trillion (US$453 million), a decrease of 4 per cent compared to the previous trading session.
The VN30-Index, which tracks the 30 biggest stocks, climbed 3.89 points, or 0.3 per cent, to 1,285.73 points. Fourteen ticker symbols in the VN30 basket edged up, while seven inched down and nine ended flat.
Data compiled by the financial website vietstock.vn showed that the Bank for Investment and Development of Vietnam (BID) was the biggest gainer, rising by 1.84 per cent and contributing nearly 1.2 points to the VN-Index.
Another notable stock move was Vietnam Airlines JSC (HVN). Continuing its recovery from the previous session, HVN hit its ceiling price, increasing by 6.94 per cent and contributing over 0.8 points to the VN-Index.
Other prominent gainers included Vietnam Dairy Products Joint Stock Company (VNM), up 2.13 per cent, Hòa Phát Group JSC (HPG), up 1.64 per cent and Vietnam Rubber Group - Joint Stock Company (GVR), up 1.21 per cent.
However, some stocks faced significant selling pressure, notably Vinhomes JSC (VHM), which led the decliners, dropping 1.72 per cent, which reduced the VN-Index by nearly 0.7 points.
According to analysts from Viet Dragon Securities, despite the market's positive performance, overall liquidity has not improved. It is expected that the market will continue to be supported and test supply, but the resistance zone of 1,245 – 1,250 points is likely to exert selling pressure in the near future.
On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Monday, rising 0.36 per cent to 237.52 points.
During the trading day, nearly VNĐ1 trillion worth of shares, equivalent to a trading volume of over 50 million shares, were traded on the northern market.
Foreign investors returned to net selling, with a net sale of VNĐ224 billion on HoSE and VNĐ74 billion on HNX.
