VN-Index surpasses 1,750 points despite strong profit-taking pressure

VN-Index surpasses 1,750 points despite strong profit-taking pressure

Vingroup (VIC) was a key driver, achieving a second consecutive daily ceiling increase, reaching a price of VNDD152,700 per share. Vinhomes (VHM) also supported the bullish trend with a 2.8 per cent increase to VNĐ110,000.

A manufacturing facility of VinFast, a subsidiary of Vingroup, in Hải Phòng City. Shares of Vingroup soared by 7 per cent on Monday, leading the market's bullish sentiment. — Photo courtesy of Vingroup

Indices experienced divergent performance on Monday, with persistent selling pressure weighing on the broad market. Despite this environment, the VN-Index still managed to extend gains, boosted by Vin stocks.

On the Hochiminh Stock Exchange (HNX), the VN-Index climbed 12.42 points, 0.71 per cent, to 1,753.74 points.

While the indices showcased strong gains, the HoSE recorded 217 declining stocks, far outnumbering the 104 that saw increases. Liquidity improved from the previous session, with nearly VNĐ21.5 trillion (US$815.5 million) worth of shares traded on the southern bourse.

This indicates significant losses for many investors holding mid-cap and small-cap shares, even amid a session where headline indices surged.

The VN30-Index also finished higher, up 8.32 points, or 0.42 per cent, to 1,983.82 points. In the VN30 basket, 21 ticker symbols went down, while only seven gained and two stayed flat.

Vingroup (VIC) was a key driver, achieving a second consecutive daily ceiling increase, reaching a price of VNDD152,700 per share. Vinhomes (VHM) also supported the bullish trend with a 2.8 per cent increase to VNĐ110,000.

However, Vincom Retail (VRE) diverged from this trend, falling 2.5 per cent.

Another noteworthy performer was PV Gas (GAS), which appreciated by 2.2 per cent, bolstering the index's overall performance.

Sabeco (SAB) also surprised the market with a full 7 per cent rise, contributing positively to the overall indices.

Conversely, widespread selling pressure seeped into sectors such as banking, steel, real estate and securities.

Most major bank shares closed in negative, with Techcombank (TCB) down 1.4 per cent, Vietinbank (CTG) by 0.8 per cent, Vietcombank (VCB) by 0.7 per cent, and VPBank (VPB) by 0.5 per cent.

Among this group, MBBbank (MBB) managed a slight increase of 0.6 per cent. The widely held Hoa Phat Group (HPG) saw a 0.9 per cent decline.

Retail and consumer goods stocks also struggled, with major players like Mobile World Investment Corporation (MWG), Masan Group (MSN) and Vietjet Aviation (VJC) closing below their reference prices, reflecting broader market sentiment.

On the Hanoi Stock Exchange (HNX), the HNX-Index fell 1.97 points, or 0.76 per cent, to 258.68 points.

Foreign investors were active in the HoSE but posted a negative trading pattern, with significant net selling amounting to over VNĐ1.8 trillion. They also net sold more than VNĐ45.5 billion on HNX. 

Bizhub