Market ends positive week with slight gains
Market ends positive week with slight gains
The stock market closed on Friday with a modest increase, capping off a week where the VN-Index posted gains in four out of five sessions, while foreign investors scaled back their net selling.
A farmer taps rubber. Shares of the Vietnam Rubber Group (GVR) leading the market to close a positive week. — VNA/VNS Photo |
The VN-Index on HoSE rose by 2.54 points, or 0.2 per cent, closing the session at 1,285.32 points.
The market's breadth was negative, as the number of decliners outnumbered gainers by 175 to 135. Liquidity on the southern bourse saw a slight increase of 7.9 per cent, reaching VNĐ16.8 trillion (US$671.8 million), corresponding to a trading volume of 724.8 million shares.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, gained 2.58 points, or 0.2 per cent, to 1,321.15 points. Thirteen stocks in the VN30 basket advanced, seven declined, and ten remained flat.
Leading the market's uptrend were key stocks in the manufacturing sector.
According to data from the financial website vietstock.vn, the Vietnam Rubber Group - Joint Stock Company (GVR) was the biggest gainer, leading the market in capitalisation. Shares of the rubber manufacturer rose by 1.87 per cent, contributing nearly 0.65 points to the VN-Index.
Hoa Phat Group JSC (HPG) followed with its shares rising by 1.17 per cent, while Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) increased by 1.01 per cent. Viet Nam Dairy Products Joint Stock Company (VNM) gained 0.94 per cent, and Bảo Việt Holdings (BVH) climbed by 3.35 per cent.
Meanwhile, some large-cap stocks faced slight selling pressure, limiting the market's gains. FPT Corporation (FPT) saw a decline of 0.52 per cent, Fortune Vietnam Joint Stock Commercial Bank (LPB) dropped by 0.63 per cent, and Vincom Retail Joint Stock Company (VRE) fell by 1.02 per cent.
According to stock analysts from Viet Dragon Securities, liquidity remained low, indicating that supply pressure has not significantly affected the market. Currently, there is no sign of a distribution day, so the market's slight pullback appears to be a cooling-off phase after surpassing the resistance level of 1,275 points. It is expected that the 1,275-point level will provide support for the market in the next trading session. If cash flow continues to provide support, the market still has the potential to reach the 1,305-point peak in the near future.
On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Friday, rising by 0.67 per cent to 240.07 points.
During the session, more than VNĐ1.3 trillion worth of shares, equivalent to a trading volume of over 68.4 million shares, were transacted on the northern market.
Conversely, foreign investors extended their net selling spree, selling over VNĐ77 billion on HoSE.
