Market mixed, VN-Index hovers around 1,750 points

Market mixed, VN-Index hovers around 1,750 points

Meanwhile, foreign investors continued to sell off, recording a net outflow of VNĐ829.3 billion on HoSE, primarily targeting large caps such as FPT Corporation (FPT), KDH and HDB. They also net sold nearly VNĐ68.2 billion on HNX.

At a transaction office of VPBank in Hà Nội. Shares of the lender soared nearly 3.7 per cent on Wednesday, cushioning the market's losses. VNA/VNS Photo

The stock market was mixed on Wednesday, as selling force continued to weigh on investors' sentiment.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index fell by 3.11 points, or 0.18 per cent, to 1,757.95 points.

The breadth of the southern market was in the negative territory with 200 stocks declining and 120 increasing. Liquidity fell from over VNĐ52 trillion in the previous session to nearly VNĐ38 trillion (US$1.4 billion). 

The VN30-Index, which tracks the 30 biggest stocks on HoSE, also decreased 4.05 points, or 0.2 per cent, to 2,009.64 points.

In contrast, the HNX-Index on the Hanoi Stock Exchange (HNX) managed a slight increase, rising by 0.79 points, or 0.29 per cent, to 276.12 points.

Vin-family stocks led the downtrend today, contributing over 5 points to the index's losses. Particularly, Vinhomes posted the biggest fall, down 2.36 per cent, while Vingroup (VIC) and Vincom Retail (VRE) dropped 1.13 per cent and 1.99 per cent, respectively.

The market pared losses thanks to gains in the banking sector. Leading the gains was VPBank (VPB), which rose by 3.69 per cent, adding 2.26 points to the benchmark index.

Other notable performers included Sahabank (SHB) up 1.11 per cent, TPBank (TPB) rising 2.6 per cent, HDBank (HDB) climbing 1.38 per cent and MBBank (MBB) up 0.74 per cent.

The recovery in the financial sector bolstered investor sentiment despite corrections in other sectors.

Gelex Group (GEX) shares drew attention with a ceiling increase of 7 per cent, accompanied by Gelex Electricity (GEE) and Khang Dien House (KDH), which also logged the maximum daily gain of 7 per cent.

Meanwhile, foreign investors continued to sell off, recording a net outflow of VNĐ829.3 billion on HoSE, primarily targeting large caps such as FPT Corporation (FPT), KDH and HDB. They also net sold nearly VNĐ68.2 billion on HNX.

Today’s session highlighted a clear divergence among sectors, with capital still being concentrated in banking and industrial stocks.

Looking ahead, the VN-Index is expected to oscillate within the range of 1,750 - 1,770 points as investors await signals from foreign investors and the impending release of third-quarter earnings. 

Bizhub