Stock market starts the final week of February with a rise

Stock market starts the final week of February with a rise

Market breadth remained positive, with 169 gainers outnumbering 145 decliners.

A Vinamilk dairy factory in Bình Dương Province. The dairy producer's VNM shares rose on Monday, helping the VN-Index surpass the 1,300-point mark. — VNA/VNS Photo

The stock market kicked off the last trading week of February with a positive session, as the VN-Index officially surpassed the 1,300-point threshold. Liquidity surged, while foreign investors continued their net-selling streak.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index gained 7.81 points, or 0.6 per cent, closing at 1,304.56 points. Market breadth remained positive, with 169 gainers outnumbering 145 decliners. Trading liquidity rose significantly to VNĐ21.1 trillion (US$826.9 million), with nearly 893 million shares changing hands.

The VN30-Index, which tracks the 30 largest stocks by market capitalisation on the HoSE, also rose by 10.79 points, or 0.8 per cent, to 1,364.52 points. Within the VN30 basket, 21 stocks advanced, six declined and three remained unchanged.

Leading the market’s rally was Hòa Phát Group Joint Stock Company (HPG), which jumped 4.73 per cent, contributing nearly two points to the VN-Index.

Meanwhile, Viet Nam Dairy Products Joint Stock Company (VNM) also gained 3.91 per cent, followed by Vietnam Joint Stock Commercial Bank For Industry And Trade (CTG), which rose 0.96 per cent. Other notable gainers included Bank for Investment and Development of Việt Nam (BID) and Ho Chi Minh City Development Joint Stock Commercial Bank (HDB), which posted gains of 0.49 per cent and 1.74 per cent, respectively.

On the downside, FPT Corporation (FPT) fell by 1.06 per cent, while FPT Digital Retail Joint Stock Company (FRT) declined by 2.83 per cent and Vietnam Airlines JSC (HVN) dropped 1.06 per cent, slightly capping the market’s overall gains.

Analysts from Việt Dragon Securities noted: "The market has successfully surpassed the 1,300-point threshold, maintaining its upward momentum. Liquidity increased compared to the previous session, indicating that capital inflows remain strong, supporting the market and absorbing selling pressure.

"The breakout, coupled with strong liquidity, suggests that the market could continue its upward trajectory. While some profit-taking pressure may emerge, the VN-Index is expected to move towards the 1,310-point resistance zone in the near future.

"Investors can remain optimistic about the market’s ability to extend its gains. In the short term, investors may consider taking advantage of buying opportunities, prioritising stocks that have shown strong momentum from solid support levels."

On the Hà Nội Stock Exchange (HNX), the HNX-Index also climbed 0.39 per cent, closing at 238.49 points. Trading value exceeded VNĐ1.1 trillion, with more than 62 million shares changing hands.

Foreign investors continued their net-selling trend, offloading VNĐ258 billion worth of shares on the HoSE. 

Bizhub