VN-Index reclaims 1,500 point level on large-cap stocks

VN-Index reclaims 1,500 point level on large-cap stocks

The impressive performance occurred despite a significant net sell-off of over VNĐ10 trillion (US$382 million) by foreign investors on the HoSE.

Vinhomes Ocean Park, an urban area project owned by Vinhomes. Shares of the property developer surged by 2.56 per cent on Monday, supporting the market's bullish trend. — Photo courtesy of vingroup.net

The market kicked off the week with a robust rally as the VN-Index reclaimed the 1,500-point level and inched closer to historic highs. The impressive performance occurred despite a significant net sell-off of over VNĐ10 trillion (US$382 million) by foreign investors on the HoSE.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index closed at 1,528.19 points, up 32.98 points, or 2.21 per cent.

A positive development was the broad distribution of capital across various sectors.

Market breadth returned to positive territory, with 242 stocks increasing and 89 declining. Liquidity also remained high at over VNĐ42.6 trillion.

The VN30-Index, which had experienced larger declines than the VN-Index in recent sessions, saw a strong rebound today, largely driven by familiar heavyweights like Vingroup (VIC), before spreading to a wider range of stocks.

The index soared 39.11 points, or 2.42 per cent, to 1,653.22 points. Up to 29 ticker symbols ticked up, with four hitting the ceiling prices, while only one decreased.

Other notable gainers contributing to the VN-Index's rise of nearly 33 points were banking stocks. In particular, TPBank (TPB) and Sahabank (SHB) both hit their ceiling prices, while HDBank (HDB) rose by 3.7 per cent, Techcombank (TCB) by 3.67 per cent, Vietnam Maritime Commercial Joint Stock Bank (MSB) by 4.44 per cent and VPBank (VPB) by 2.33 per cent.

The securities and real estate sectors also saw significant gains.

On the Hanoi Stock Exchange (HNX), the HNX-Index also rose by 3.41 points, or 1.29 per cent, to 268.34.

During the session, over VNĐ3.2 trillion worth of shares were traded on the northern bourse, equivalent to a trading volume of more than 163.3 million shares.

Despite the market's overall gains, foreign investors continued their net selling streak for the third consecutive session on the HoSE, with a record value of nearly VNĐ10.3 trillion net sold.

In particular, VIC faced substantial selling pressure with nearly VNĐ9.95 trillion offloaded, followed by SSI Securities Corporation (SSI) at around VNĐ398 billion. 

Bizhub