Market mixed, Vin stocks continues to lead gains

Market mixed, Vin stocks continues to lead gains

Foreign investors returned to the market with net buying of over VNĐ334.2 billion on the HoSE, focusing their purchases on VNM, VIC, VIX Securities (VIX) and VPBank (VPB).

The building of the Landmark 81 developed by Vingroup. Shares of the property developer surged 5 per cent on Friday, leading the market's upbeat. — Photo courtesy of the company

The market closed the week with significant divergences among sectors, yet the VN-Index managed to keep its upward trend, buoyed by strong performances from Vin stocks. 

The Hochiminh Stock Exchange (HoSE)’s benchmark index rose by 6.67 points, or 0.4 per cent, to 1,690.99 points.

The trading session was marked by volatility, particularly in the afternoon, as the index continually tested its reference level. 

Despite this, decliners still dominated the southern exchange with 185 sliding stocks compared to 106 advancing ones.

Liquidity saw a rise from the previous session, with the HoSE recording over 723.2 million shares traded, amounting to VNĐ24.7 trillion (US$900.6 million).

The VN-Index also recovered, up 2.74 points, or 0.14 per cent, to 1,923.92 points. Within the VN30 basket, downward movements outnumbered gains, with 17 stocks declining compared to 10 gaining and 3 remaining unchanged.

Stocks from the Vin group once again played a pivotal role in supporting the index with notable contributions from Vingroup (VIC), Vinpearl (VPL) and Vinhomes (VHM). 

Additionally, Vinamilk (VNM) climbed 3.23 per cent, further reinforcing market stability. 

In contrast, several stocks, such as Vietcombank (VCB), FPT Corporation (FPT), Gelex Electricity (GEE) and BIDV (BID), faced downward pressure on the overall index.

On the Hanoi Stock Exchange (HNX), the HNX-Index experienced a more negative trend, influenced by declines in Vinacomin - Minerals Holding Corporation (KSV), hitting the floor price, while Sunshine Group (KSF) dropped 1.08 per cent, Tasco (HUT) dipped 3.49 per cent and Saigon - Hanoi Securities (SHS) lost 1.87 per cent.

Ultimately, the index closed down by 1.52 points, or 0.58 per cent, at 259.91 points.

Foreign investors returned to the market with net buying of over VNĐ334.2 billion on the HoSE, focusing their purchases on VNM, VIC, VIX Securities (VIX) and VPBank (VPB). On the HNX, foreign investors also recorded a net purchase of more than VNĐ14.22 billion.

The trading patterns of foreign investors have shown improvement over the last four sessions, with a contraction in net selling and instances of increased buying activity during the trading day. This positive shift in investor sentiment may signal a strengthening market outlook moving forward. 

Bizhub