Market extends gains on realty stocks

Market extends gains on realty stocks

Investor interest concentrated on large-cap stocks, particularly in the real estate sector. This segment featured 3 stocks hitting their ceiling prices and 58 other advancing stocks.

Investors attend a Novaland event in HCM City. The property developer's shares logged the maximum daily gain of 7 per cent on Monday, supporting the market's bullish sentiment. — Photo Novaland

The market opened the new week on a positive note, with the VN-Index extending its upward trend to the second straight day, albeit with relatively subdued trading activity.

A significant reduction in selling pressure contributed to a broader spread of gains on the board.

On the Hochiminh Stock Exchange (HoSE), the VN-Index had risen by 18.96 points, or 1.16 per cent, reaching 1,654.42 points. The session saw 227 stocks advance, compared to 86 that declined, while 50 remained unchanged.

The southern bourse's liquidity increased from the previous trade but remained at a low level of VNĐ21.5 trillion(US$817 million), equivalent to a trading volume of nearly 766.7 million shares.

Investor interest concentrated on large-cap stocks, particularly in the real estate sector. This segment featured 3 stocks hitting their ceiling prices and 58 other advancing stocks.

The VN30-Index closed higher at 1,893.54 points, up 22 points, or 1.18 per cent. Up to 28 ticker symbols ticked higher and only two went down.

Among the highlights, Novaland (NVL) captured significant attention, hitting its ceiling price for the third time in four sessions.

The trio of Vin stocks also played a leading role in the market's upward trend, while gains were seen in other stocks such as CEO Group (CEO), Dat Xanh Group (DXG), DIC Group (DIG), Phat Dat Real Estate Development Corporation (PDR), Khang Dien House (KDH) and Kinh Bac City Group (KBC).

In terms of their impact on the VN-Index, Vingroup (VIC) and Vinhomes (VHM) were the most significant contributors, together adding over 6.32 points.

Other notable contributors included Hoa Phat Group (HPG), Vietnam Rubber Group (GVR), Masan Group (MSN), MBBank (MBB), VPBank (VPB) and Techcom Securities (TCX), which collectively provided more than 3.5 points to the index.

Gains were capped by declines in stocks like Vinamilk (VNM), Gelex Electric (GEE) and Bao Viet Holdings (BVH), which contributed marginally to the market's declines.

Meanwhile, on the Hanoi Stock Exchange (HNX), the HNX-Index rose by 1.08 points, or 0.40 per cent, to 268.69 points. This marked its fifth gaining days in a row. Investors poured over VNĐ1.7 trillion into the northern bourse, equal to a trading volume of more than 77.8 million shares. 

Despite the positive market performance, foreign investors continued their net selling trend, totalling over VNĐ913 billion on the two main exchanges. 

Bizhub