Market ends November on a positive note as VN-Index regains the 1,250-point mark
Market ends November on a positive note as VN-Index regains the 1,250-point mark
The stock market closed the final trading session of November on a positive note, with the VN-Index regaining the 1,250-point threshold, while foreign investors extended their net buying streak to a sixth consecutive session.
Customers conduct transactions at BAOVIET Bank's headquarters. BAOVIET Holdings' BVH shares hit the ceiling on Friday, contributing to the VN-Index reclaiming the 1,250-point level. — VNA/VNS Photo |
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 8.35 points, or 0.67 per cent, to end at 1,250.46 points.
Market breadth leaned positive, with 177 stocks advancing and 117 declining. Liquidity on the southern bourse increased to VNĐ13.5 trillion (approximately US$532.3 million), up 21.6 per cent from the previous session.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on the HoSE, also climbed by 9.74 points, or 0.75 per cent, to 1,311.26 points. Among VN30 stocks, 21 advanced, six declined and three remained unchanged.
Data from financial platform vietstock.vn showed that FPT Corporation (FPT) spearheaded the rally, with its shares jumping nearly 3.52 per cent, adding around 1.8 points to the VN-Index.
Other notable gainers included the Bank for Foreign Trade of Vietnam (VCB), which increased by 0.76 per cent, the Bank for Investment and Development of Vietnam (BID), rising 1.41 per cent and Bao Viet Holdings (BVH), which hit the ceiling price with a surge of 6.98 per cent.
Conversely, certain sectors experienced declines, applying mild downward pressure on the market. Among the laggards were Vinhomes JSC (VHM), the Vingroup Joint Stock Company (VIC) and the Vietnam Commercial Joint Stock Export Import Bank (EIB).
Experts from Viet Dragon Securities noted: “The market extended its recovery trend and surpassed the 1,250-point mark, crossing the 20-day moving average (MA20). While cash flow showed efforts to support the market, caution remains as supply pressure resurfaces, evident from the upper shadows on candlesticks and increased liquidity.
“Although the market is under supply pressure, closing above the 1,250-point level signals a mix of positives and negatives. It is expected that the market will see sideways movements around current levels in the near term before clearer supply-demand signals emerge.
“Thus, investors should continue monitoring supply-demand dynamics to assess market conditions. At present, short-term opportunities can be explored in stocks showing signs of recovery from support zones. However, portfolio management should remain prudent to avoid overbuying.”
On the Hà Nội Stock Exchange, the HNX-Index also advanced on the final Friday of November, gaining 0.48 per cent to close at 224.64 points. Trading volume on the northern bourse surpassed 51 million shares, with a total value exceeding VNĐ820 billion.
Foreign investors maintained their net buying momentum, with net purchases of over VNĐ329 billion on the HoSE.
