Market extends gains on rising liquidity

Market extends gains on rising liquidity

Also supporting the market's upbeat mood, foreign investors were net buyers on HoSE, net buying over VNĐ512.3 billion.

A worker checking products at a warehouse of Duc Giang Chemicals. The company's shares surged by nearly 6.3 per cent on Monday, supporting the market's upbeat. — Photo ducgiangchem.vn

The market opened the week on a positive note, as liquidity flew into large-cap stocks and foreign investors returned to main exchanges. 

On the Hochiminh Stock Exchange (HoSE), the VN-Index soared 46.72 points, or 2.74 per cent, to 1,751.03 points. This was its highest close since December 8 and was near its record level of 1,760 points. 

The breadth of the southern bourse was positive, with 216 stocks increasing while 97 decreased. Liquidity also surged, nearly doubling from the previous session to over VNĐ30.6 trillion (US$1.2 billion), equivalent to a trading volume of 980 million shares. 

Today's rallies were mainly driven by pillar stocks. 

The 30 biggest stocks tracker, VN30-Index, jumped 52 points or 2.69 per cent to 1,985.28 points. Up to 27 ticker symbols in the VN30 basket ticked up, with two hitting the ceiling prices, while only three stocks finished lower.

Vingroup (VIC) led the market's uptrend, logging the maximum daily gain of 7 per cent to VNĐ158,800 per share. The gain contributed up to 18.6 points to the benchmark index. 

Other great performers were Vinhomes (VHM), Techcombank (TCB), Vinpearl (VPL), BIDV (BID), Sacombank (STB) and Gelex Electricity (GEE). All these stocks surged in a range of 1.86–7 per cent. 

Duc Giang Chemicals also rebounded after four sessions of declining, with three hitting the floor prices. The company's market capitalisation lost nearly 27 per cent before climbing 6.27 per cent today. 

The recovery took place right before the company finalised the list of shareholders to pay cash dividends at a rate of 30 per cent.

In contrast, Vinamilk was the biggest loser today, down 1.25 per cent. 

Similarly, the HNX-Index on the Hanoi Stock Exchange (HNX) rose 3.26 points, or 1.28 per cent, to 257.23 points. 

During the session, nearly VNĐ1.5 trillion worth of shares was traded on the exchange, equal to a trading volume of 71.8 million shares. 

Also supporting the market's upbeat mood, foreign investors were net buyers on HoSE, net buying over VNĐ512.3 billion. However, they still net sold nearly VNĐ45.2 billion on HNX. 

Bizhub