Market begins the week on a positive note
Market begins the week on a positive note
The stock market started the new trading week with an uptick, ending VN-Index’s two-day losing streak, though liquidity fell to its lowest level since 12 September.
Hòa Phát Steel Production Complex in Dung Quất Economic Zone, Quảng Ngãi Province. HPG shares of the steel producer led the market on Monday. — VNA/VNS Photo |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 2.05 points, or 0.16 per cent, closing at 1,254.77 points.
Market breadth was positive, with 183 gainers outnumbering 122 losers. Liquidity on the southern bourse dropped to VNĐ10.8 trillion (over US$425.7 million), marking a 21 per cent decrease compared to the previous session.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation, edged up by 2.79 points, or 0.21 per cent, to 1,328.33 points. In the VN30 basket, 15 stocks rose, nine declined and six remained unchanged.
According to data from financial website vietstock.vn, Hoa Phat Group JSC (HPG) was the biggest gainer, rising by 1.13 per cent and contributing nearly 0.47 points to the VN-Index.
This was followed by FPT Corporation (FPT), which increased by 0.67 per cent, Bank for Foreign Trade of Vietnam (VCB), up by 0.22 per cent and Asia Commercial Joint Stock Bank (ACB), rising by one per cent.
Several sectors posted losses, applying slight pressure to the overall market, with declines from Vinhomes JSC (VHM), Vietnam Commercial Joint Stock Export Import Bank (EIB) and Vietnam Dairy Products Joint Stock Company (VNM).
Stock market analysts at Viet Dragon Securities said: "Liquidity decreased compared to the previous session, indicating that capital flow support remains quite low. The market’s decline has been curbed at the 1,240 – 1,250 support level, where supply and demand are being tested. This support area may help the market experience a technical rebound in the near future.
"Therefore, investors should monitor the supply and demand dynamics at this support range to assess market conditions. Investors might consider short-term buying opportunities at favourable prices for certain stocks, while still carefully balancing portfolios to reduce risk during recovery phases."
On the Hà Nội Stock Exchange (HNX), the HNX-Index closed slightly lower on Monday, down by 0.02 per cent to finish at 224.59 points.
During the session, shares worth nearly VNĐ783 billion were traded, with a total trading volume of over 49 million on the northern market.
Foreign investors extended their net selling streak, with net sales totalling over VNĐ457 billion on the HoSE.
