Market extends gains, VN-Index inches closer to 1,280 points
Market extends gains, VN-Index inches closer to 1,280 points
The index broke over 1,280 points earlier in the session.
A Vietnam Airlines aircraft at Nội Bài International Airport. Shares of the national flag carrier hit the maximum daily gain on Friday, supporting the market's uptrend. — VNA/VNS Photo |
The domestic stock market finished higher on Friday, boosted by pillar stocks, while foreign investors continued their net selling spree.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed the week higher at 1,276.08 points, up 5.73 points, or 0.45 per cent. This marked its second consecutive daily gain. The index broke over 1,280 points earlier in the session.
The market benchmark is currently trading between 1,275 and 1,280 points, following multiple unsuccessful attempts to breach the 1,300-point threshold. Positive business results for the fourth quarter of 2024, combined with capital inflows from macroeconomic policies, are fuelling upward momentum for the index.
By the end of Q4 2024, net profits of listed companies on the three stock exchanges increased by 27.8 per cent year-over-year, marking the fifth consecutive quarter of growth.
Breadth of the southern market remained in positive territory, with the number of winners surpassing that of losers by 192 to 177. Liquidity also improved, up 27.3 per cent from the previous session to VNĐ14.9 trillion (US$585 million).
The VN30-Index, tracking the 30 biggest stocks in term of market capitalisation, increased 2.74 points, or 0.2 per cent, to 1,340.52 points. In the VN30 basket, 16 stocks ticked up, while eight declined and six ended flat.
Data compiled by vietstock.vn showed that BIDV (BID), Vietnam Airlines JSC (HVN), Vietnam Rubber Group (GVR), FPT Corporation (FPT) and PV Gas (GAS) were top contributors to the market’s rally.
In particular, BID was the biggest gainer. Shares of the lender soared by 1.63 per cent, contributing nearly 1.1 points to the VN-Index increase.
It was followed by HVN as its shares hit the ceiling price, closing the week with a 7 per cent gain. Meanwhile GVR, FPT and GAS rose 1.26 to 3.06 per cent.
The index pared gains due to losses recorded in some large-cap stocks, led by Vietinbank (CTG). CTG shares dropped 0.73 per cent, followed by Masan Group (MSN) and Sacombank (STB).
The HNX-Index on the Hà Nội Stock Exchange (HNX) also closed higher, extending its rally streak to four days. The index was last traded at 231.22 points, up 1.7 points, or 0.74 per cent.
Investors poured over VNĐ1.2 trillion on the northern bourse, equivalent to a trading volume of more than 76.3 million shares.
On the other hand, foreign investors extended their withdrawals from the market after net selling nearly VNĐ177.3 billion on HoSE. However, they still net bought VNĐ2.76 billion on HNX.
