Market reverses course, VN-Index recovers over 13 points

Market reverses course, VN-Index recovers over 13 points

However, foreign investors continued to sell off on the HoSE, but the volume decreased significantly to just over VNĐ75 billion.

A BIDV transaction office. Shares of the lenders surged by 1.6 per cent on Tuesday, supporting the market's recovery. — Photo vietnamplus.vn

After three consecutive sessions of significant declines, the Vietnamese stock market rebounded on Tuesday, marking a positive turn, though it was unable to reclaim the 1,600-point threshold.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) increased by 13.07 points, or 0.83 per cent, to 1,593.6 points.

Market breadth returned to the positive zone, with 186 stocks rising, 114 declining and 60 unchanged.

Analysts from several securities firms noted that the recent downward trend has brought many stocks to more attractive price levels, potentially activating bottom-fishing activity despite the prevailing cautious sentiment among most investors.

As a result, liquidity on the southern bourse continued to decline from the previous session, totalling VNĐ19.76 trillion (US$751 million).

The VN30-Index, which tracks the 30 largest stocks on HoSE, also jumped 17.42 points, or 0.97 per cent, to 1,821.6 points. In the VN30 basket, 20 stocks increased, eight fell and two ended flat.

Similarly, on the Hanoi Stock Exchange (HNX), the HNX-Index rose 2.9 points, or 1.12 per cent, to settle at 261.08 points, with 69 stocks advancing, 51 declining and 81 remaining unchanged.

Bullish sentiment dominated the market, particularly in the securities sector, which saw a robust recovery fuelled by significant capital inflow. Stocks such as VIX Securities (VIX) rose 4.06 per cent, SSI Securities (SSI) 3.72 per cent, Saigon-Hanoi Securities (SHS) 3.74 per cent, Vietcap (VCI) 2.51 per cent, Ho Chi Minh City Securities (HCM) 1.35 per cent, VNDirect Securities (VND) 1.84 per cent and MB Securities (MBS) 2.77 per cent.

The banking sector also leaned towards positive performance, with TPBank (TPB) up 2.42 per cent, Sacombank (STB) 2.37 per cent and BIDV (BID) 1.6 per cent.

The real estate sector displayed a mixed performance, though there were more gainers than losers. Notable rises included Vinhomes (VHM) 3.57 per cent, Vingroup (VIC) 1.01 per cent, Vincom Retail (VRE) 4.19 per cent and Dat Xanh Group (DXG) 3.01 per cent.

Foreign investors continued to sell on HoSE, but the volume fell significantly to just over VNĐ75 billion. This brings the total net foreign sell-off to VNĐ116 trillion since the start of the year, the highest level recorded in several years. 

Bizhub