Market surges as VN-Index nears 1,320 points

Market surges as VN-Index nears 1,320 points

Market breadth was heavily skewed towards gainers, with 235 advancing stocks outnumbering 88 decliners.

Workers tap rubber trees in Đắk Lắk Province. Vietnam Rubber Group's GVR shares led the entire market as the VN-Index approached the 1,320-point mark. — VNA/VNS Photo

The stock market posted strong gains on Thursday, with the VN-Index edging closer to the 1,320-point mark. Liquidity also saw a slight increase compared to the previous session, while foreign investors returned to net buying.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index gained 13.51 points, or 1.04 per cent, to close at 1,318.22 points. Market breadth was heavily skewed towards gainers, with 235 advancing stocks outnumbering 88 decliners. Trading liquidity inched up to VNĐ22.5 trillion (US$882.6 million), with over one billion shares exchanged.

The VN30-Index, which tracks the 30 largest stocks by market capitalisation, also advanced by 15.71 points, or 1.15 per cent, to 1,379.62 points. Among the VN30 basket, 24 stocks gained, five declined and one remained unchanged.

Vietnam Rubber Group—Joint Stock Company (GVR) led the rally, climbing 3.03 per cent and contributing nearly one point to the VN-Index.

Other major gainers included Vinhomes JSC (VHM), which rose by 2.11 per cent, and FPT Corporation (FPT), which added 1.8 per cent. Additionally, Mobile World Investment Corporation (MWG) and Military Commercial Joint Stock Bank (MBB) increased by 3.86 per cent and 2.34 per cent, respectively.

On the downside, some banking and large-cap stocks put pressure on the market. Bình Sơn Refining and Petrochemical Company Limited (BSR) dropped 1.25 per cent, while Fortune Vietnam Joint Stock Commercial Bank (LPB) lost 0.7 per cent, and Saigon Beer - Alcohol - Beverage Corporation (SAB) declined 0.77 per cent.

According to analysts at Việt Dragon Securities, “Following Wednesday’s correction, the market surged to approach the 1,320-point level. Liquidity increased compared to the previous session, indicating that capital inflows are still supporting the market and absorbing supply.”

“The strong breakout with solid liquidity could sustain market momentum in the coming sessions. Some volatility may arise as investors take profits, but overall, the market is expected to push towards the 1,320-point milestone in the near term.”

“Investors may look forward to an extended uptrend. At the same time, short-term trading opportunities remain, with a focus on stocks showing strong performances from solid support zones. However, investors should consider locking in profits on stocks that have surged rapidly and are approaching resistance levels.”

On the Hà Nội Stock Exchange (HNX), the HNX-Index also gained 1.1 per cent, closing at 238.01 points. Trading value on the northern exchange exceeded VNĐ1.4 trillion, with more than 76 million shares exchanged.

Foreign investors resumed net buying after several consecutive sessions of selling, recording a net purchase of over VNĐ431 billion on HoSE. 

Bizhub