Market rebounds as VN-Index nears 1,265 points
Market rebounds as VN-Index nears 1,265 points
Market breadth was positive, with 251 gainers outnumbering 72 decliners. Trading liquidity increased to approximately VNĐ15.3 trillion (US$606.7 million), with nearly 660 million shares changing hands.
A VietinBank transaction office in Hà Nội. The bank's CTG shares led the market on Tuesday, contributing to the strong recovery of the VN-Index. — Photo courtesy of VietinBank |
The stock market rebounded strongly on Tuesday, with the VN-Index climbing close to the 1,265-point threshold, liquidity improving significantly, while foreign investors continued their net selling trend.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index gained 11.65 points, or 0.93 per cent, to close at 1,264.68 points. Market breadth was positive, with 251 gainers outnumbering 72 decliners. Trading liquidity increased to approximately VNĐ15.3 trillion ( over US$606 million), with nearly 660 million shares changing hands.
The VN30-Index, which tracks the top 30 largest stocks by market capitalisation on the HoSE, also rose by 11.75 points, or 0.89 per cent, to end at 1,327.21 points. Of the VN30 basket, 22 stocks advanced, three declined and five remained unchanged.
Leading the market recovery was the Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), which rose by 3.55 per cent, contributing nearly 1.8 points to the VN-Index.
The Bank for Foreign Trade of Vietnam (VCB) also gained 0.44 per cent, while Hòa Phát Group Joint Stock Company (HPG) increased by 1.7 per cent. The Military Commercial Joint Stock Bank (MBB) and the Bank for Investment and Development of Vietnam (BID) also posted gains of 1.81 per cent and 0.63 per cent, respectively.
On the downside, Vinhomes JSC (VHM) fell by 0.64 per cent, Viet Nam Dairy Products Joint Stock Company (VNM) declined by 0.5 per cent, and the FPT Digital Retail Joint Stock Company (FRT) dropped by 1.76 per cent, limiting the overall market’s gains.
Analysts from Việt Dragon Securities said: “The market found support at around 1,255 points and rebounded. Liquidity improved compared to the previous session, indicating a proactive effort to support the market. However, selling pressure remains as the market recovers quickly.
“The recovery trend may continue in the next session, but strong contention is expected as the market approaches the resistance zone of 1,265–1,270 points. Investors should remain cautious of potential pullbacks from this area.
“Therefore, investors may consider taking profits during the recovery or restructuring their portfolios to minimise risks while monitoring capital flow movements. At present, market stability has not improved significantly, and risks remain. Investors should adopt prudent portfolio management strategies to avoid excessive buying.”
On the Hà Nội Stock Exchange (HNX), the HNX-Index also rose by 1.4 per cent to close at 226.61 points, with trading value exceeding VNĐ964 billion and more than 61 million shares traded.
Foreign investors maintained their net selling trend, offloading shares worth over VNĐ946 billion on the HoSE.
