VN-Index breaks new record high, surpassing 1,530 points

VN-Index breaks new record high, surpassing 1,530 points

This remarkable session not only reflects a robust recovery but also signals a renewed confidence among investors in the Vietnamese stock market, setting the stage for future growth.

The VN-Index's movements. — Source: vietstock.vn

The stock market posted a strong close on Friday on positive sentiment and capital inflows from domestic investors, with the VN-Index setting a new historical high. 

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased 10.11 points, or 0.66 per cent, to 1,531.13 points, officially surpassing its all-time closing high of 1,528 points - an obstacle that had stood for more than three years.

This surge was accompanied by a significant increase in liquidity, with total trading value on the HoSE skyrocketing to over VNĐ37.4 trillion (US$1.43 billion). The strong session boosted the market capitalisation by nearly VNĐ42.3 trillion, bringing it to over VNĐ6.6 quadrillion. 

Breadth of the market was positive with 207 stocks rising and 126 ticker symbols declining. 

The gain in the VN-Index stood out against the downward trend of indices in the region.

In the morning session, profit-taking pressure posed some challenges to the index's upward trend, temporarily narrowing its gains. At one point, the VN-Index nearly retraced to its reference point.

However, rising buying force in the afternoon session pushed the VN-Index back to the bullish territory. The cooling of profit-taking towards the end of the session further facilitated the index's rise.

Key drivers for the VN-Index's ascent included leading stocks such as Vinhomes (VHM), VietJet Aviation (VJC), VPBank (VPB), SSI Securities Corporation (SSI), Gelex Group (GEX), VIX Securities SJC (VIX), HDBank (HDB), VNDirect Securities Company (VND), Southeast Asia Commercial Joint Stock Bank (SSB), and Asia Commercial Joint Stock Bank (ACB). 

Of these stocks, VJC, GEX, VIX and VND also logged the maximum daily gain of 7 per cent. 

Conversely, Vingroup (VIC) led a group of blue-chip stocks that hindered market progress, down 1.6 per cent. It was followed by Vietnam Rubber Group (GVR), down 1.4 per cent, and Vinamilk (VNM), down 0.8 per cent. 

Meanwhile, foreign investors remained cautious, net selling over VNĐ26.8 billion on the southern bourse. However, they net bought VNĐ20.32 billion on HNX. 

This remarkable session not only reflects a robust recovery but also signals a renewed confidence among investors in the Vietnamese stock market, setting the stage for future growth. 

Bizhub