VN-Index hovers above 1,500 points despite rising sell-offs

VN-Index hovers above 1,500 points despite rising sell-offs

Foreign investors also made a notable comeback this afternoon. They net bought over VNĐ248.7 billion on HoSE.

Customers at a transaction office of VPBank in Hà Nội. The bank's shares jumped 3.78 per cent on Wednesday, supporting the market's uptrend. VNS Photo Ly Ly Cao

The market extended gains on Wednesday as strong cash inflows overshadowed sell-offs in some pillar stocks. 

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) closed at 1,512.31 points, up 2.77 points, or 0.18 per cent. 

The breadth of the market remained in the positive territory with 203 stocks increasing and 120 stocks declining. Meanwhile, liquidity on the southern bourse soared by nearly VNĐ38.2 trillion (US$1.46 billion). 

However, the VN30-Index, which tracks the 30 biggest stocks on the HoSE, decreased slightly. It finished at 1,653.01 points, down 2.97 points, or 0.18 per cent. In the VN30 basket, 17 stocks ticked up while 13 ticker symbols slid.

The influence of large-cap stocks was evident, particularly as Vinhomes (VHM) dropped by 3.46 per cent and Vingroup (VIC) by 2.13 per cent, collectively contributing to a loss of 5.4 points for the VN-Index.

Despite this, market activity remains vibrant, with speculative trading intensifying among mid-cap and small-cap stocks.

In the blue-chip group, nine stocks have risen by over 1 per cent, albeit with average capitalisation levels. Notably, Vietjet Aviation (VJC) continued its ceiling price climb. 

Other strong performers, up in a range of 1.6 - 4.1 per cent, included HDBank (HDB), VPBank (VPB), Vinamilk (VNM), Vietnam International Commercial Joint Stock Bank (VIB), Vietnam Rubber Group (GVR) and PV Gas (GAS). Among these, only VPB and GAS possess substantial market capitalisations. Collectively, these seven stocks offset the declines of VIC and VHM, contributing nearly 5.2 points.

Currently, there is a clear shift in cash flow towards mid- and small-cap stocks. While the VN30-Index dropped by 0.18 per cent, the Midcap Index rose by 1.4 per cent and the Smallcap Index by 0.73 per cent. Although the liquidity for the VN30 increased only slightly by 3 per cent from the previous day, Midcap and Smallcap saw rises of 25 per cent and 23 per cent, respectively. 

Since the preliminary tariff deal, this was the first time that liquidity for the Midcap index surpassed that of the VN30 by approximately 9.4 per cent, equating to about VNĐ1.4 trillion.

On the Hanoi Stock Exchange, the HNX-Index also inched higher, up 1.48 points, or 0.6 per cent, to 249.33 points. Investors poured nearly VNĐ3 trillion into the northern market. 

Foreign investors made a notable comeback this afternoon. They net bought over VNĐ248.7 billion on HoSE.  

Bizhub