Large-cap stocks help VN-Index break 1,700 point-level

Large-cap stocks help VN-Index break 1,700 point-level

However, the market's breadth remained in the negative zone as 135 stocks increased while 178 decreased.

A product line of light lager beer from Sabeco. Shares of the brewer soared 5.6 per cent on Monday, supporting the VN-Index's uptrend. Photo sabeco.com.vn

The stock market opened the new month on a positive note as the VN-Index surpassed the significant 1,700-point mark and maintained this level until the end of the session.

On the Hochiminh Stock Exchange (HoSE), the VN-Index gained 10.68 points, or 0.63 per cent, to 1,701.67 points, with total trading volume exceeding 633.5 million shares, valued at more than VNĐ21 trillion (US$798 million). 

However, the market's breadth remained negative as 135 stocks rose while 178 declined.

The VN30-Index, which tracks the 30 largest stocks on the southern exchange, continued to lead the market, with 16 of its members rising in value, despite 14 declining. The index increased 9.64 points, or 0.5 per cent, to 1,933.56 points.

Vingroup (VIC) stocks attracted significant capital, rising 3.65 per cent and contributing 8.53 points to the benchmark index.

Other notable performers included Vinhomes (VHM), Vinpearl (VPL) and Vincom Retail (VRE), up at least 1.9 per cent, with VPL even hitting the ceiling price.

Additionally, Sabeco (SAB) increased 5.6 per cent, PV Gas (GAS) 3.15 per cent and Masan (MSN) 1.81 per cent, helping bolster overall market performance.

Meanwhile, the rest of the market exhibited less favourable trends. The oil and gas sector saw a mixed performance, with only Petrolimex (PLX) gaining.

The securities sector was predominantly negative and the banking sector showed a mixed performance. Mid- and small-cap real estate stocks saw notable declines. 

On the Hanoi Stock Exchange (HNX), the HNX-Index decreased 2 points, or 0.77 per cent, to 257.91.

Over VNĐ1 trillion worth of shares was traded on the northern bourse, equal to a trading volume of nearly 55 million shares.

Foreign investors continued to sell shares across the market, with net selling on the HoSE exceeding VNĐ298.5 billion.

Overall, the VN-Index's ability to maintain its position above 1,700 points indicates positive investor sentiment, despite ongoing sectoral disparities suggesting that capital flow has yet to fully broaden.

Profit-taking pressure remains a noteworthy factor that could temporarily cap short-term gains.

However, if liquidity remains stable and leading stocks continue to perform well, the market may advance toward higher points in the upcoming sessions, opening up optimistic prospects for the remainder of the year. 

Bizhub