Market mixed, VN-Index breaks 1,740 points

Market mixed, VN-Index breaks 1,740 points

The market benchmark index still managed to extend the current rising streak on Vin-family stocks.

Landmark 81 building, a project of Vingroup, in HCM City. Shares of Vingroup hit the biggest daily gain of 7 per cent on Friday, lifting the VN-Index. — VNA/VNS Photo

Benchmark indices ended mixed on Friday, with negative performance dominating the market, but the VN-Index still managed to extend the current rising streak on Vin-family stocks.  

The VN-Index on the Hochiminh Stock Exchange (HoSE) increased 4.08 points, or 0.23 per cent, to 1,741.32 points. 

However, the market's breadth fell into the negative zone as the number of decliners surpassed that of gainers by 211 to 101. Liquidity also dropped from the previous session to more than VNĐ20 trillion (US$761 million), equal to a total trading volume of over 658 million.

The primary driver behind the VN-Index's increase was the strong performance of Vin stocks. 

In the VN30 basket, 24 out of 30 stocks saw losses, leaving only three in positive territory and three unchanged. The VN30-Index declined slightly by 4.03 points, or 0.2 per cent, to 1,975.5 points. 

Vigroup (VIC), the largest market capitalisation stock, soared to its ceiling price with a 7 per cent increase, reaching VNĐ142,800 per share. Vinhomes (VHM) also contributed positively with a 1.71 per cent rise. 

These two stocks played a crucial role in mitigating the widespread declines across most of the VN30-Index.

The HNX-Index on the Hanoi Stock Exchange (HNX) fell by 1.66 points to close at 260.65, with over 64.4 million shares traded, worth more than VNĐ1.2 trillion.

However, foreign investors returned to a net selling position, offloading stocks worth a total of nearly VNĐ677 billion on the two main exchanges. On the HoSE, foreign net sales amounted to VNĐ605.2 billion.

While the VN-Index retains its positive momentum, the overall market breadth remained negative and liquidity showed a slight decline, highlighting a cautious investor sentiment. 

The index's rise is primarily attributed to large-cap stocks, indicating that short-term adjustment risks persist, especially with foreign investors resuming strong selling activity.

In the coming sessions, the market is likely to experience narrow fluctuations, heavily influenced by the performance of blue-chip stocks, particularly those from Vingroup, alongside domestic capital flows in leading sectors such as banking and securities. 

Conversely, other sectors, including banking, securities, oil and gas, and real estate, fell simultaneously, underscoring a generally negative market sentiment when excluding the impact of Vin stocks. 

Bizhub