VN-Index rises for fifth straight day, hitting new peak

VN-Index rises for fifth straight day, hitting new peak

Also lifting the market's sentiment, foreign investors continued their buying spree for the fourth consecutive session, with net purchases surpassing VNĐ1 trillion on HoSE.

A Sacombank building. Shares of the lender rose over 4.8 per cent on Wednesday, contributing nearly 1.2 points to the VN-Index's gains. — Photo courtesy of the bank

The Vietnamese stock market celebrated a notable milestone on Wednesday, as the VN-Index increased for the fifth consecutive session, reaching a historic closing high despite an overwhelming number of declining stocks.

Although profit-taking pressures emerged as the index approached high levels, the market managed to finish on a positive note. On the Hochiminh Stock Exchange (HoSE), the benchmark index closed at an all-time peak of 1,782.82 points, up 10.67 points, or 0.6 per cent.

The southern market's breadth stayed in the negative zone, as the number of decliners surpassed that of gainers by 169 to 144. Liquidity continued to fall from the previous session to VNĐ959.2 million, equal to a trading volume of more than 808 million shares.

The VN30 group also closed positively, gaining over 10.26 points, or 0.51 per cent, to 2,023.13 points. In the group, 18 stocks rose, while 11 fell and one ended flat.

Among these, Vinhomes (VHM) stood out as the best performer, providing significant support to the market. VHM increased by nearly 7 per cent, contributing almost eight points to the overall index. Conversely, Vingroup (VIC) experienced slight contraction, closing down 0.1 per cent.

In addition to VHM, seven bank stocks emerged among the top contributors to the VN-Index.

Notably, Sacombank (STB) and VPBank (VPB) each contributed over one point, closing with gains of 4.8 per cent and 2.1 per cent, respectively. Sahabank (SHB) also posted impressive performance, finishing up 3.7 per cent.

Other banking stocks like HDBank (HDB) and MBBank (MBB) reported increases of 1.3 per cent and 0.8 per cent, respectively, contributing positively to the index.

Meanwhile, Duc Giang Chemicals (DGC), after two sessions of recovery, faced significant sell-offs from both domestic and foreign investors, dropping 5.2 per cent.

Foreign investors also sold off more than 1.4 million DGV shares.

In the securities sector, stocks reversed their downward trends with some notable gains. Vietcap (VCI) climbed 3.94 per cent, VNDirect Securities (VND) rose 2.26 per cent, SSI Securities (SSI) went up 1.8 per cent, and Ho Chi Minh City Securities (HCM) increased by 1.1 per cent.

VIX Securities (VIX) emerged as the most active stock in this sector, trading around 28 million shares, although it closed down 1.3 per cent.

In contrast, the HNX-Index on the Hanoi Stock Exchange (HNX) declined by 2.87 points, or 1.12 per cent, to 252.6 points.

Also lifting the market's sentiment, foreign investors continued their buying spree for the fourth consecutive session, with net purchases surpassing VNĐ1 trillion on HoSE. They also net bought nearly VNĐ2 trillion on HNX. 

Bizhub