VN-Index extends gains to third straight month

VN-Index extends gains to third straight month

Liquidity improved, with the trading value up by 11.4 per cent to over VNĐ21 trillion (US$804 million).

Investors on a trading floor of a securities firm in Hà Nội. — VNA/VNS Photo

The domestic market ended mixed on the first trading day of the new month, but still registered a monthly gain in June. However, foreign investors returned to their net selling spree. 

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) closed the day higher despite a negative breadth. The benchmark increased 1.77 points, or 0.13 per cent, to 1,377.84 points, marking its third straight day in a row of gains. 

On the southern bourse, there were 196 decliners and 117 gainers. 

Liquidity improved, with the trading value up by 11.4 per cent to over VNĐ21 trillion (US$804 million).

Selling pressure soared in the afternoon session, with the VN-Index hitting its lowest point of the day at 2.15pm. 

For most of the afternoon, the VN-Index struggled within a narrow range. The final rally primarily impacted major stocks, including Vingroup (VIC), Vinhomes (VHM), BIDV (BID) and Vietinbank (CTG).

VIC fell by as much as 2.2 per cent but rebounded quickly in the closing minutes. The shares then ended flat at VNĐ95,600 per share. 

VHM followed a similar trajectory, initially dropping 2.48 per cent before finishing just 0.52 per cent down. CTG also saw a dip of 0.84 per cent before returning to its reference price. BID, which had been performing well, slipped close to the reference point at around 2.15pm, but then rebounded rapidly, closing up by 0.83 per cent.

Although only a few stocks exhibited significant fluctuations in the final minutes, these were among the largest by market capitalisation. As a result, the VN-Index recovered a few points before closing the session.

The VN30-Index, however, was mostly unchanged. It traded at 1,476.16 points, down slightly by 1.4 points, or 0.09 per cent. 

In the VN30 basket, 13 stocks increased, while 13 ticked down and four ended flat. 

Building on the positive momentum from May, the VN-Index saw an increase of 43.47 points, or 3.26 per cent, since the start of June. The alternating rallies of leading stocks fuelled the market's ability to break through the strong resistance level of 1,350 points, solidifying the short-term bullish trend.

However, the average trading value in June was around VNĐ17.1 trillion, down 4 per cent from the previous month. Most trading sessions recorded lower liquidity than the average of the past 20 sessions. 

On the Hanoi Stock Exchange (HNX), the HNX-Index declined on Tuesday, down 0.77 points, or 0.34 per cent, to 288.45 points. 

Foreign investors were net sellers today after trading a value of nearly VNĐ333.4 billion on the two main exchanges. 

Last month, they returned to net selling after a rare month of net buying, with the net selling value for last month totalling just over VNĐ520 billion. 

Bizhub