Strong market rally as VN-Index nears 1,260 points
Strong market rally as VN-Index nears 1,260 points
Market breadth was decisively positive, with 233 advancing stocks significantly outnumbering 73 decliners. Liquidity on the southern bourse improved to VNĐ13.2 trillion (over US$524.8 million), marking a 10.1 per cent increase compared to the previous session.
A VPBank transaction office in Hà Nội . VPB shares of this lender rose on Thursday, contributing to a strong gain in the VN-Index. — Photo courtesy of VPBank |
The stock market staged a robust recovery on Thursday, with the VN-Index nearing the 1,260-point mark. Liquidity improved slightly and foreign investors showed signs of net buying.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 17.1 points, or 1.38 per cent, to close at 1,259.63 points.
Market breadth was decisively positive, with 233 advancing stocks significantly outnumbering 73 decliners. Liquidity on the southern bourse improved to VNĐ13.2 trillion (over US$524.8 million), marking a 10.1 per cent increase compared to the previous session.
The VN30-Index, which tracks the top 30 large-cap stocks on HoSE, also climbed by 22.82 points, or 1.74 per cent, to settle at 1,332.54 points. Of the VN30 basket, 26 stocks advanced, while four remained unchanged.
The Bank for Foreign Trade of Vietnam (VCB) led the blue-chip gains, rising by 1.43 per cent and contributing over 1.74 points to the VN-Index. Other notable performers included FPT Corporation (FPT), which surged by 3.07 per cent, Fortune Vietnam Joint Stock Commercial Bank (LPB), up 5.69 per cent and Vietnam Prosperity Joint Stock Commercial Bank (VPB), which increased by 3 per cent.
However, minor losses were observed in select sectors, including FPT Digital Retail Joint Stock Company (FRT), Viettel Post Joint Stock Corporation (VTP) and the Hanoi Beer Alcohol and Beverage Joint Stock Corporation (BHN).
Market analysts at Việt Dragon Securities said: “The market surged after recent efforts to regain the 1,250-point level. Liquidity increased compared to the previous session, signalling more active capital flows, though supply pressure also rose alongside the market's gains.
“The current uptrend could provide momentum for the market to approach the 1,300-point target. However, the market may face heightened volatility in the short term due to profit-taking activities, with the 1,255–1,260 range serving as a support zone.”
“Thus, investors can remain optimistic about the potential for further market gains. Short-term opportunities can be explored in stocks showing positive momentum from support levels. However, investors should monitor recovery trends closely to lock in profits on stocks that have rapidly reached resistance zones or restructure their portfolios accordingly.”
On the Hà Nội Stock Exchange (HNX), the HNX-Index also posted gains, rising by two points, or 0.91 per cent, to close at 222.67 points.
Investors traded VNĐ635 billion worth of shares on the northern exchange, equivalent to over 40 million shares.
Meanwhile, foreign investors took part in some bottom-fishing, recording net purchases of over VNĐ142 billion on the HoSE and VNĐ14 billion on the HNX.
