Market rises on bullish sentiment

Market rises on bullish sentiment

This rise was predominantly driven by the banking and financial sectors, creating optimism among investors following a series of volatile trading sessions.

A customer speaks with a bank teller at a BIDV transaction office in Hà Nội. The lender's shares surged over 3 per cent on Monday, leading the market's rallies. — Photo vietnamplus.vn

The Vietnamese stock market inched higher on Monday, with the VN-Index surpassing the significant resistance level of 1,680 points. However, foreign investors continued to withdraw from the market. 

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index closed higher at 1,684.9 points, up 17.64 points, or 1.06 per cent. This rise was predominantly driven by the banking and financial sectors, creating optimism among investors following a series of volatile trading sessions.

Market breadth was positive, with 238 ticker symbols increasing and 76 declining. 

The VN30-Index, tracking the 30 biggest stocks on the southern bourse, also gained 11.3 points or 0.61 per cent to reach 1,876.75 points. In the VN30 basket, 22 stocks ticked up, while six went down and two stayed flat. 

The positive momentum was mirrored in the HNX-Index on the Hanoi Stock Exchange (HNX), which recorded a notable increase of 4.18 points, or 1.51 per cent, to finish at 280.69 points.

Overall market liquidity was robust, with total trading value hitting VNĐ42.1 trillion (US$1.6 trillion) and a volume of 1.47 billion shares traded—significantly higher than recent averages, indicating strong capital inflows.

The banking sector, a pillar of the VN-Index, played a crucial role in this upward movement. 

Notable performers included BIDV (BID), which rose by 3 per cent, Vietinbank (CTG) up 2.38 per cent, Techcombank (TCB) gained 1.04 per cent and SHB increased by 1.42 per cent. Other banks such as ACB and TPB also saw gains of 0.38 per cent and 1.33 per cent, respectively. 

However, not all banks performed positively. VPBank (VPB) and HDB (HDBank) faced slight declines of 0.16 per cent and 0.79 per cent, likely due to profit-taking by short-term investors.

In the real estate and construction sectors, Phat Dat Real Estate Development JSC (PDR) rose by 0.85 per cent, DIC Group (DIG) by 2.44 per cent, Novaland (NLG) by 4.2 per cent and Kinh Bac City Group (KBC) by 0.8 per cent, contributing to the index’s growth. 

VIX Securities (VIX) surged 7 per cent and Tasco JSC (HUT) jumped 8.65 per cent, becoming standout performers of the session. 

Conversely, Vinhomes (VHM) and CEO Group (CEO) experienced declines of 0.35 per cent and 2.7 per cent, respectively, marking rare setbacks in this sector.

The manufacturing and industrial sectors also participated actively, with Hoa Phat Group (HPG) up 1.17 per cent and Duc Giang Chemicals Group (DGC) increasing by 2.06 per cent. However, other stocks like Mobile World Investment Corporation (MWG) dropped by 0.63 per cent.

Experts suggest that today's gains may stem from optimistic sentiment following stable macroeconomic indicators, combined with high liquidity that supports the market's recovery. Nonetheless, investors are advised to remain cautious regarding fluctuations in large-cap stocks, especially given ongoing concerns about interest rates and inflation.

On the other hand, foreign investors extended their net selling streak after net selling nearly VNĐ1.4 trillion on the two main exchanges. 

Bizhub