VN-Index extends gain, hitting six-week high

VN-Index extends gain, hitting six-week high

Another bright spot in today's trading saw foreign investors return to net buying on the southern exchange, spending over VNĐ637 billion, representing the highest inflow in nearly a month.

Customers conduct a transaction at a Techcombank office. Shares of the lender surged over 3 per cent on Tuesday, supporting the market's uptrend. — Photo vietnamplus.vn

Benchmark indices finished higher on Tuesday, buoyed by Vin family and blue-chip stocks, while liquidity also improved.

The VN-Index on the Hochiminh Stock Exchange (HoSE) gained 15.39 points, or 0.9 per cent, to 1,717.06 points. This was its highest close in over six weeks and marked its fifth consecutive rise, demonstrating sustained upward momentum in the market.

Trading began positively, with the VN-Index opening in the green. However, it quickly retreated below the reference point after initial trading orders were executed. Throughout the morning, the index fluctuated around the 1,700-point level, with pressure from profit taking, particularly on leading stocks like Vingroup (VIC).

Nevertheless, market breadth remained negative, with 149 stocks declining and 144 gaining.

Liquidity increased from the previous session to nearly VNĐ22.4 trillion (US$849 million).

The VN30-Index, which tracks the 30 biggest stocks on HoSE, also rose by 16.56 points, or 0.86 per cent, to 1,956.12 points. In the VN30 basket, up to 20 ticker symbols rose while only five fell and five stayed unchanged.

VIC remained a crucial player influencing the VN-Index. Shares of the conglomerate soared 1.9 per cent to VNĐ275,000, setting a new record. VIC recorded the highest liquidity in the market, reaching over VNĐ1.1 trillion.

Other blue-chip stocks provided strong support, including VietJet Aviation (VJC), Techcombank (TCB), Vinhomes (VHM) and Gelex Electricity (GEE).

Conversely, VPBank (VPB) negatively impacted the broader index, declining by 1.4 per cent.

On the Hanoi Stock Exchange (HNX), the HNX-Index closed higher at 258.87 points, up 0.96 points, or 0.37 per cent. This ended its three-day losing streak. 

Another bright spot in Tuesday's trading session saw foreign investors return to net buying on the southern exchange, spending over VNĐ637 billion, representing the highest inflow in nearly a month.

In a pre-trading report, VPBank Securities projected that in the short term, the market would likely consolidate around the 1,690-1,700 point range.

They advised investors to engage in short-term trading (T+) with moderate positions in mid-cap stocks or those in strong recovery, while cautioning against chasing prices near the 1,700-1,710 resistance levels.

Additionally, they recommended profit taking on stocks previously acquired during earlier T+ waves, advising investors to maintain a portfolio weight of 40-60 per cent in stocks with a focus on risk management, especially among those that have seen rapid increases or are near resistance levels. 

Bizhub