Market rebounds, VN-Index gains nearly 35 points

Market rebounds, VN-Index gains nearly 35 points

Also supporting the recovery trend, foreign investors returned to the market, net buying over VNĐ1.2 trillion on HoSE and VNĐ56.85 billion on HNX.

A customer conducts a transaction at a VIX Securities office. The securities firm surged 7 per cent on Tuesday, supporting the market's recovery. — Photo vixs.vn

The stock market experienced its most significant rally since early October, easing investor concerns after a challenging adjustment period.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rebounded nearly 35 points, or 2.16 per cent, to 1,651.98 points. It was supported by strong buying interest.

Following three consecutive sessions of sharp declines that wiped out nearly 70 points, the index had fallen to the support threshold of 1,620 points on Monday.

Market sentiment remained under pressure at the start of the trading session, with low liquidity and subdued trading. Although the 1,620-point support level was exceeded, it was not enough to instil confidence, as selling pressure persisted.

The HoSE recorded 189 advancing stocks, with 22 hitting the ceiling price, against 117 decliners. The market's liquidity also soared from the previous session to over VNĐ34.2 trillion (US$1.3 billion).

The VN30-Index, tracking the 30 biggest stocks on HoSE, also gained more than 40 points, or 2.16 per cent, to 1,897.71 points. Up to 24 ticker symbols in the VN30 basket increased, while only five decreased.

The most notable contributors to the market's recovery were the securities and real estate sectors.

In the securities group, stocks such as VIX Securities (VIX), VNDirect Securities (VND), Vietcap Securities (VCI), SSI Securities (SSI) and Viet Dragon Securities (VDS) all logged the maximum daily gains of 7 per cent.

Similarly, the real estate and construction sectors, including companies like DIC Group (DIG), Dat Xanh Real Estate Services (DXS), Gelex Group (GEX), Dat Xanh Group (DXG) and Vincom Retail (VRE), also closed at their ceiling prices, accompanied by high liquidity, with most of them seeing buy orders at the ceiling price.

Banking stocks followed closely, with VPBank (VPB) standing out by reaching its ceiling price.

Meanwhile, on the Hanoi Stock Exchange (HNX), the HNX-Index also climbed by 6.73 points, or 2.6 per cent, to 265.91 points. During the session, over 131.3 million shares were traded on the northern bourse, worth more than VNĐ2.9 trillion. 

Also supporting the recovery trend, foreign investors returned to the market, net buying over VNĐ1.2 trillion on HoSE and VNĐ56.85 billion on HNX. 

Bizhub