Index surpasses 1,260 points as market rallies
Index surpasses 1,260 points as market rallies
The market surged on Wednesday, pushing the VN-Index past the 1,260-point mark, accompanied by an improvement in liquidity.
A rubber forest in Nghệ An Province. Shares of Vietnam Rubber Group (GVR) led the market on Wednesday. — VNA/VNS Photo |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 15.52 points, or 1.25 per cent, to close at 1,261.28 points.
Market breadth was positive, with 254 stocks advancing and 57 declining. Liquidity on the southern bourse improved significantly, reaching VNĐ14.1 trillion (nearly US$554.8 million), up 29.4 per cent from the previous session.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on the HoSE, also rose by 16.21 points, or 1.23 per cent, to 1,329.56 points. Of the VN30 basket, 29 stocks posted gains, with none declining and one remaining unchanged.
According to financial website vietstock.vn, Vietnam Rubber Group - Joint Stock Company (GVR) led the risers, with its shares up 5.14 per cent, contributing nearly 1.7 points to the VN-Index.
This was followed by gains for the Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), which increased by 2.43 per cent, the Bank for Investment and Development of Vietnam (BID), up 1.37 per cent, and Vietnam Technological and Commercial Joint Stock Bank (TCB), which rose by 1.92 per cent.
Some sectors posted losses, creating slight downward pressure on the market, with decliners including Vietnam Airlines JSC (HVN) and KIDO Group Corporation (KDC).
Experts from Viet Dragon Securities noted: “The market has shown signs of recovery after a slight decline around the 200-day moving average (MA200) in the previous session. Liquidity has improved compared to the prior session, although the increase is less pronounced when excluding negotiated transactions.
"This indicates a modest recovery as supply pressure eases. However, the market has approached the resistance range of 1,265 – 1,270 points. The current rally may be a technical rebound to test this resistance, so the risk of retreating from this level remains.
“Therefore, investors should closely monitor supply-demand dynamics and maintain a reasonable portfolio allocation, avoiding an overly aggressive buying position. Consider using this recovery phase to rebalance portfolios and mitigate risks.”
On the Hà Nội Stock Exchange, the HNX-Index also ended higher on Wednesday, rising by 1.29 per cent to 227.76 points. Throughout the session, over 44 million shares were traded on the northern bourse, valued at over VNĐ988 billion.
Foreign investors continued their selling streak for the tenth consecutive session, with net sales exceeding VNĐ383 billion on the HoSE.
