VN-Index approaches 1,400 points threshold

VN-Index approaches 1,400 points threshold

Foreign investors returned to the market as they net bought nearly VNĐ1 trillion worth of shares on the two main exchanges.

A customer performs a transaction at VIX Securities' office. — Photo vixs.vn

The stock market inched higher on Wednesday, boosted by strong gains in securities stocks and strong net buying force from foreign investors. 

The benchmark VN-Index moved closer to the threshold of 1,400 points in the afternoon session, marking its four-day streak of gains. The index finished the trading day at 1,384.59 points, up 6.75 points, or 0.49 per cent.

Breadth of the market returned to positive territory as 204 ticker symbols increased while 109 ticked down. Liquidity continued to improve, with the trading value on the southern bourse up 6.7 per cent from the previous session to more than VNĐ 22.4 trillion (US$858 million). 

The 30 biggest stocks tracker, VN30-Index, also closed higher at 1,482.76 points. The index increased by 6.6 points, or 0.45 per cent. Seventeen stocks gained while eight declined and five finished unchanged. 

During the morning trading session, investor caution resulted in a divergence among large-cap stocks, causing the market to fluctuate within a narrow range. However, after a brief period of light consolidation at the start of the afternoon session, the market unexpectedly signalled a breakout, fuelled by momentum from the securities sector.

VIX Securities JSC (VIX), Ho Chi Minh City Securities Corporation (HCM), FPT Securities JSC (FTS), and Vietinbank Securities (CTS) hit selling prices, while others – like Saigon-Hanoi Securities JSC (SHS), SSI Securities Corporation (SSI), VNDirect Securities Corporation (VND), and MB Securities (MBS) – posted strong rallies, up at least 3 per cent. 

Banking stocks also performed well, with Techcombank (TCB) the biggest contributor to the market's rallies. Shares of the lender soared 1.74 per cent and contributed nearly 1 point to the benchmark's gain. 

In the real estate sector, LDG shares of LDG Investment JSC marked their fifth consecutive session of hitting the ceiling price, reaching VNĐ3,470 per share. The trading volume surpassed 3.5 million shares.

The market's rallies were capped by losses in some major stocks, which were led by Vietcombank (VCB), BIDV (BID), Vinhomes (VHM), and Vingroup (VIC).

On the Hanoi Stock Exchange (HNX), the HNX-Index surged by 1.39 per cent, or 3.17 points, to 231.62 points. Investors poured over VNĐ1.9 trillion into the northern market, equivalent to a trading volume of nearly 106 million shares. 

Meanwhile, foreign investors returned to the market as they net bought nearly VNĐ1 trillion worth of shares on the two main exchanges, including VNĐ886.28 billion on HoSE and VNĐ72.92 billion on HNX. 

Bizhub