Market extends gains for fourth consecutive session

Market extends gains for fourth consecutive session

The stock market extended its rally on Tuesday, with the VN-Index posting gains for the fourth straight session.

A VPBank transaction office in Thường Tín District, Hà Nội. The bank's VPB shares led the entire market on Tuesday. — Photo courtesy of VPBank

The stock market continued its upward momentum on Tuesday, marking the fourth consecutive rising session for the VN-Index. Liquidity declined slightly, while foreign investors remained net sellers, though their selling volume eased compared to previous sessions.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 2.26 points, or 0.17 per cent, to close at 1,332.54 points. Market breadth leaned towards gainers, with 162 advancing stocks compared to 152 decliners. Trading liquidity reached VNĐ21.4 trillion (US$841.7 million), with over 933 million shares changing hands.

The VN30-Index, which tracks the 30 largest stocks by market capitalisation, also edged up by 2.5 points, or 0.18 per cent, to 1,393.57 points. Among the VN30 basket, 12 stocks advanced, 10 declined and eight remained unchanged.

Leading the market rally was Vietnam Prosperity Joint Stock Commercial Bank (VPB), which gained 1.55 per cent, contributing over 0.5 points to the VN-Index.

Other major gainers included Vietnam Airlines JSC (HVN), which surged 2.99 per cent, and Military Commercial Joint Stock Bank (MBB), rising 1.22 per cent. Vietnam Technological and Commercial Joint Stock Bank (TCB) and Hòa Phát Group Joint Stock Company (HPG) also gained 0.72 per cent and 0.78 per cent, respectively.

On the downside, several large-cap stocks put pressure on the market. FPT Corporation (FPT) declined 1.29 per cent, while Fortune Việt Nam Joint Stock Commercial Bank (LPB) lost 0.43 per cent and Bảo Việt Holdings (BVH) dropped 2.31 per cent.

According to analysts at SHS Securities, market sentiment remained optimistic, with the VN-Index continuing to trend higher towards the 1,340-point zone. Meanwhile, the VN30-Index is aiming for the 1,400-point resistance level.

"In the short term, the VN-Index is maintaining its uptrend, with 1,320 points as the nearest support level and 1,300 points as a stronger support zone. The market has now recorded seven consecutive weeks of gains, with the VN-Index moving towards 1,350 points and the VN30-Index approaching its major resistance at 1,400–1,420 points, which corresponds to its highest level since May 2022. However, short-term selling pressure is building after a prolonged rally," the analysts stated.

"At current levels, the market is not particularly attractive for increasing investment allocations in many stocks. However, sector rotation remains positive, and short-term trading opportunities persist across various industries as the VN-Index continues to trade above the 1,300-point resistance level. Therefore, investors are actively searching for short-term investment and speculative opportunities, but should be selective when increasing their exposure."

On the Hà Nội Stock Exchange (HNX), the HNX-Index also gained 0.45 per cent, closing at 240.58 points. Trading value on the northern exchange exceeded VNĐ1.2 trillion, with over 62 million shares changing hands.

Meanwhile, foreign investors extended their net selling trend, offloading over VNĐ217 billion worth of shares on HoSE. 

Bizhub