VN-Index rises for third straight day on strong liquidity

VN-Index rises for third straight day on strong liquidity

Foreign trading remained a bright spot in the market as investors continued their net buying streak.

Inside a Hòa Phát Group production line. Shares of the steel producer surged nearly 4.7 per cent on Tuesday, contributing 1.7 points to the market's rally. — Photo courtesy of the company

The Vietnamese stock market inched higher on Tuesday, buoyed by strong liquidity and bullish sentiment from investors, after the benchmark index broke through the psychological level of 1,400 points on Monday.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose for a third day in a row, up 13.4 points, or 0.96 per cent, closing at 1,415.46 points. 

The market's breadth remained positive as the number of gainers surpassed that of decliners by 217 to 92. Market liquidity was robust, with capital flowing into multiple stock groups.

In particular, the trading value on the southern bourse stayed at over VNĐ28.2 trillion (US$1.1 billion), equal to a trading volume of more than 1.2 billion shares. 

The 30 biggest stocks tracker, VN30, also closed higher. The index increased 20.61 points, or 1.37 per cent, to 1,529.27 points. In the VN30 basket, 23 ticker symbols rose, while two decreased and five stayed flat. 

Among large-cap stocks, Vietjet Air (VJC) led the way with a notable increase of 5.56 per cent, reaching VNĐ95,000 per share. 

Hòa Phát Group (HPG) also saw a significant rise of 4.66 per cent, closing at VNĐ24,700 per share, with trading volume hitting nearly 77.5 million units, the highest in the VN30 group. HPG's strong performance was the most influential factor contributing to today's index gains.

Currently, shares of the steel producer are at a three-year high, boosting the wealth of HPG Chairman and billionaire Trần Đình Long to $2.5 billion, according to the real-time billionaires list from Forbes. 

The index also received support from leading stocks such as Vinhomes (VHM), Vietjet Aviation JSC (VJC), VPBank (VPB), SSI Securities Corporation (SSI), Vinamilk (VNM), FPT Corporation (FPT), Mobile World Investment Corporation (MWG) and Novaland (NVL). Shares of these companies increased at least 1.05 per cent. 

On the southern bourse, many mid- and small-cap stocks also attracted significant investment. Several real estate stocks experienced surprising surges, with some even hitting their ceiling prices, including DRH Holdings, Hoang Quan Corporation (HQC), LDG Investment (LDG) and An Duong Thao Dien JSC (HAR).

The HNX-Index on the Hanoi Stock Exchange (HNX) finished at 237.68 points, up 1.78 points, or 0.75 per cent. This marked its third straight session of gains. 

Notably, foreign trading remained a bright spot in the market as investors continued their net buying streak totalling nearly VNĐ1.4 trillion, marking the fourth consecutive session of net purchases exceeding VNĐ1 trillion.

The most heavily net-bought stocks included HPG, FPT, SSI, Saigon Hanoi Commercial Joint Stock Bank (SHB) and VIX Securities Corporation (VIX). 

Bizhub