Market gains for the second day in a row

Market gains for the second day in a row

The VN-Index plunged 35 points in the early session before reversing the course. The shift was fuelled by a surge in capital inflows in the final minutes of trading.

An LNG carrier at the Thị Vải LNG terminal. PV Gas shares climbed nearly 5.4 per cent on Wednesday, supporting the market's uptrend. — Photo pvgas.com.vn

Indices finished higher on Wednesday, buoyed by bottom-fishing demand following the market's recent dip.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) closed up 15.07 points, or 0.91 per cent, to 1,678.5 points. This extended the index's winning streak to two consecutive sessions.

The index plunged 35 points in the early session before reversing course. This shift was fuelled by a surge in capital inflows in the final minutes of trading.

The session concluded with approximately 220 stocks gaining, nearly double the number that declined. Liquidity continued to decrease from the previous session but remained high at VNĐ32.1 trillion (US$1.2 billion).

The VN30-Index also rose by nearly 15 points, or 0.78 per cent, to 1,930.88 points. In the VN30 basket, 21 ticker symbols inched higher, while eight declined and one ended flat.

The market witnessed widespread gains across various sectors. Notably, PV Gas (GAS) posted a strong gain of 5.36 per cent.

All stocks in the oil and gas and fertiliser groups closed in the green, while the real estate sector also experienced robust trading, with several stocks, including Novaland (NLG), Ho Chi Minh City Infrastructure Investment JSC (CII), Dat Xanh Group (DXG), DIC Group (DIG) and Phat Dat Real Estate Development JSC (PDR), rising by over 2 per cent.

However, the banking sector displayed significant divergence. Stocks such as Orient Commercial Joint Stock Bank (OCB), LPBank (LPB), Vietinbank (CTG) and Techcombank (TCB) each rose by more than 1 per cent, while several large- and mid-cap stocks, including Sahabank (SHB), Sacombank (STB), Eximbank (EIB) and TPBank (TPB), closed in negative territory.

The Vingroup stocks exhibited considerable volatility. Vinpearl JSC (VPL) surged by 6.6 per cent, while Vinhomes (VHM) and Vincom Retail (VRE) recorded gains of 1.9 per cent and 0.52 per cent, respectively. Conversely, VIC, the largest market-cap stock, reversed itsearly gain to finish lower by 0.2 per cent.

On the Hanoi Stock Exchange (HNX), the HNX-Index extended its rally to the second straight session, up over 4 points, or 1.53 per cent, to 268.69 points.

Following the strongest net buying session in three years, foreign investors returned to sell off shares, with net sales exceeding VNĐ1.6 trillion on HoSE and VNĐ197.96 billion on HNX. 

Bizhub