Market hits new record despite rising selling force

Market hits new record despite rising selling force

The Vin stock group were the market's main influencers, contributing more than 30 points to the VN-Index.

An urban area developed by Vinhomes. Shares of the property developer hit the biggest daily rise of 7 per cent on Tuesday, supporting the VN-Index's rallies. — Photo courtesy of the company

Indices ended mixed on Tuesday, but the VN-Index hit a new record high, primarily led by large-cap stocks.

On the Hochiminh Stock Exchange (HoSE), the benchmark VN-Index soared by 21.12 points, or 1.21 per cent, to 1,772.15 points. This marked a historic high and the index's third straight gaining session. 

However, the breadth of the southern market was negative, with over 210 stocks declining while 102 increased. Liquidity was also lower than in the previous trading session, down to VNĐ26.2 trillion (US$995 million).

Today's gain was largely thanks to certain key large-cap stocks. The VN30-Index, which tracks the 30 biggest stocks in terms of market capitalisation, rose 27.59 points, or 1.39 per cent, to 2,012.87 points. 

In the VN30 basket, 11 ticker symbols went up, with three hitting the ceiling prices, while 16 fell and three stayed flat. 

The Vin stock group were the market's main influencers. Of these, Vingroup (VIC) and Vinhomes (VHM) logged the maximum daily gain of 7 per cent, while Vincom Retail (VRE) and Vinpearl (VPL) saw increases of 3.8 per cent and 5.1 per cent, respectively. 

Collectively, these stocks contributed more than 30 points to the VN-Index.

Noteworthy fluctuations were also observed in the banking sector, particularly with the Sacombank (STB) and LPBank (LPB) stocks amid new senior personnel announcements. 

STB surged to its ceiling price at VNĐ56,000. Conversely, LPB faced a significant decline of 5 per cent, finishing at VNĐ41,800 per share.

Other blue-chip stocks experienced mixed results. Duc Giang Chemicals (DGC) dropped sharply by 4 per cent, while Mobile World Investment Corporation (MWG) advanced nearly 3 per cent. Meanwhile, SSI Securities (SSI) saw a slight decline of over 2 per cent.

On the Hanoi Stock Exchange (HNX), the decline of several major stocks contributed to the HNX-Index falling below its reference point before recovering slightly towards the end of the session. 

The HNX-Index lost 1.76 points, or 0.68 per cent, to 255.47 points. 

Foreign investors were still net buyers on the market, as they net bought VNĐ720.68 billion on HoSE and only net sold a small amount, VNĐ180 million, on HNX. 

Bizhub