Market gains as VN-Index nears 1,280 points
Market gains as VN-Index nears 1,280 points
Market breadth remained positive, with 194 gainers outpacing 124 decliners.
A branch of Bảo Việt Holdings. The insurance group's shares hit the daily limit on Tuesday, leading the market and contributing to the VN-Index's recovery. — Photo courtesy of Bảo Việt Holdings |
The stock market closed higher on Tuesday, with the VN-Index approaching the 1,280-point threshold. Liquidity declined slightly, while foreign investors continued net-selling, though their volumes significantly decreased compared to previous sessions.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 5.42 points, or 0.43 per cent, to close at 1,278.14 points. Market breadth remained positive, with 194 gainers outpacing 124 decliners. Trading liquidity declined to approximately VNĐ14.2 trillion (US$556.3 million), with nearly 707 million shares exchanged.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, gained 3.38 points, or 0.25 per cent, to 1,337.39 points. Within the VN30 basket, 22 stocks advanced, while six declined and two remained unchanged.
Large-cap stocks played a key role in the market's recovery. Bảo Việt Holdings (BVH) led the gains, hitting the daily ceiling with a 6.9 per cent increase, contributing nearly 0.7 points to the VN-Index.
Hòa Phát Group Joint Stock Company (HPG) also gained 1.53 per cent, while Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) edged up 0.37 per cent. Other key contributors included the Bank for Investment and Development of Vietnam (BID) and Vietnam Rubber Group - Joint Stock Company (GVR), rising 0.75 per cent and 0.98 per cent, respectively.
However, losses in some blue-chip stocks limited the market’s overall gains. Fortune Vietnam Joint Stock Commercial Bank (LPB) fell 1.74 per cent, Phu Nhuan Jewelry Joint Stock Company (PNJ) lost 1.89 per cent and the Investment and Industrial Development Corporation (BCM) declined 0.43 per cent.
Analysts at Việt Dragon Securities said: "Liquidity declined slightly compared to the previous session but remained at a decent level, indicating that market demand is absorbing supply.
"The VN-Index’s push above 1,275 points suggests continued support in the next session, potentially allowing the market to test the 1,280–1,290 range. Supply and demand dynamics within this zone will be crucial in determining the market’s next movement.
"Investors should monitor supply-demand signals around resistance levels to assess the market’s strength. Those with short-term positions can consider taking profits on stocks that have rallied sharply or adjusting portfolios to minimise risks. Meanwhile, buying opportunities should focus on stocks that have shown positive momentum and are near strong support zones.”
On the Hà Nội Stock Exchange (HNX), the HNX-Index rose 1.14 per cent, closing at 235.84 points. Trading value exceeded VNĐ1.1 trillion, with over 72 million shares changing hands.
Foreign investors continued their net-selling streak, but with a significant drop in volume, offloading VNĐ142 billion worth of shares on the HoSE.
