Market gains as liquidity improves

Market gains as liquidity improves

Trading liquidity rose to VNĐ18.7 trillion (US$731.4 million), with nearly 893 million shares changing hands.

A Vietcombank transaction office in Thái Nguyên City. The bank's VCB shares led the market on Thursday. — Photo courtesy of Vietcombank

The stock market gained yesterday after two consecutive minor corrections, with the VN-Index surpassing 1,305 points, while liquidity also increased and foreign investors extended their net-selling streak to six sessions.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index climbed 4.84 points, or 0.37 per cent, closing at 1,307.8 points. Market breadth was positive, with 188 gainers outnumbering 122 decliners. Trading liquidity rose to VNĐ18.7 trillion (US$731.4 million), with nearly 893 million shares changing hands.

Meanwhile, the VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, also gained 3.06 points, or 0.22 per cent, to 1,363.62 points. Within the VN30 basket, 14 stocks advanced, 13 declined and three remained unchanged.

Leading the market rally was the Bank for Foreign Trade of Việt Nam (VCB), which jumped 1.84 per cent, contributing more than 2.3 points to the VN-Index.

Meanwhile, Hòa Phát Group Joint Stock Company (HPG) also gained 2.52 per cent, followed by Vinhomes JSC (VHM), which rose 0.86 per cent. Other notable gainers included Hoa Sen Group (HSG) and Việt Nam Joint Stock Commercial Bank for Industry and Trade (CTG), which posted gains of 6.89 per cent and 0.36 per cent, respectively.

On the negative side, Việt Nam Dairy Products Joint Stock Company (VNM) dropped by 1.43 per cent, while Bank for Investment and Development of Việt Nam (BID) declined by 0.61 per cent, and PetroVietnam Gas Joint Stock Corporation (GAS) fell 0.58 per cent, slightly capping the market’s overall gains.

Analysts from the Việt Dragon Securities noted: "Despite profit-taking pressure at the psychological resistance of 1,300 points, the market managed to maintain its upward momentum, surpassing the previous peak at 1,305 points. Increased liquidity compared to the previous session indicates that capital inflows are actively absorbing selling pressure.

"While the 1,305-point resistance may cause temporary volatility, the market’s strong upward trend suggests it could overcome this pressure and continue advancing above 1,310 points. The supply-demand test at this level will be a crucial indicator for the market’s next move.

"Investors can expect further gains but should closely monitor market trends and capital flow movements.

"Short-term buying opportunities remain viable, especially in stocks that have shown strong performance from well-established support levels. However, profit-taking should also be considered for stocks that have surged rapidly to resistance levels."

On the Hà Nội Stock Exchange (HNX), the HNX-Index also rose 0.33 per cent, closing at 239.39 points. Trading value on the northern bourse exceeded VNĐ1.2 trillion, with more than 72 million shares traded.

Foreign investors continued their net-selling trend, offloading VNĐ639 billion worth of shares on the HoSE. 

Bizhub