VN-Index inches up as market liquidity improves significantly

VN-Index inches up as market liquidity improves significantly

At the close, the VN-Index rose modestly by 1.9 points, or 0.15 per cent, to 1,241.95 points.

Three LPG storage tanks at PV GAS Terminal in Vũng Tàu. PV GAS’s GAS shares led the market on Tuesday. — VNA/VNS Photo

The stock market continued to edge higher on Tuesday, sustaining the upward momentum seen since the launch of the new KRX trading system on Monday. While the VN-Index climbed close to 1,250 points in the morning session, the benchmark pared gains in the afternoon due to renewed selling pressure on blue-chip stocks.

At the close, the VN-Index rose modestly by 1.9 points, or 0.15 per cent, to 1,241.95 points.

Market breadth tilted slightly positive, with 166 gainers outnumbering 148 losers. Liquidity improved, with total trading value on the Hồ Chí Minh Stock Exchange (HoSE) reaching VNĐ17.8 trillion (US$686.3 million), up 24.4 per cent from the previous session.

Meanwhile, the VN30-Index, which tracks the 30 largest listed stocks by market capitalisation, dipped slightly by 0.75 points, or 0.06 per cent, to 1,319.66. The VN30 basket saw 12 stocks advance, 13 decline and five remain unchanged.

Notable gainers on Tuesday included PetroVietnam Gas (GAS), which added 1.88 per cent, Techcombank (TCB), up 1.32 per cent, Vietnam Prosperity Bank (VPB), gaining 1.81 per cent and Vietnam Airlines (HVN), which climbed 3.23 per cent.

On the downside, several large-cap stocks weighed on the market’s recovery. Vietnam Rubber Group (GVR) dropped 2.21 per cent, Hòa Phát Group (HPG) declined 0.97 per cent and Becamex (BCM) fell by 2.61 per cent.

Analysts at Saigon – Hanoi Securities (SHS) noted: “Following a sharp correction, the short-term trend of the VN-Index is shifting towards recovery, aiming to test major resistance levels such as the 200-day moving average around 1,260 points. The nearest support lies around 1,235 points. Market sentiment and momentum are showing signs of improvement, but for broader market consensus, the VN30 must break above its own resistance at approximately 1,325 points.”

They added: “The market is gradually finding balance and transitioning into a recovery phase, driven mainly by strong first-quarter earnings results. As of May 5, total market revenue reached VNĐ890.9 trillion, up 15 per cent year-on-year, while net profit totalled VNĐ124.5 trillion, rising 13.5 per cent year-on-year.”

Looking ahead, investors are closely watching ongoing trade negotiations, with Việt Nam and the United States scheduled to begin their first round of talks on May 7. “Many stocks, particularly those with solid Q1 results, remain attractively valued after recent corrections. Accumulating positions at below-average weighting or making tactical short-term trades to reduce cost bases may be considered,” reported the analysts.

They advised investors to maintain a balanced portfolio, focusing on companies with strong fundamentals, market leadership and exposure to strategic, high-growth sectors of the economy. 

Bizhub