VN-Index continues to set new record high

VN-Index continues to set new record high

Unlike earlier sessions characterised by volatility, today's market displayed a unified upward trend.

Customers buy petroleum at a Petrolimex station. Shares of the company logged the biggest daily gain of 7 per cent on Wednesday, supporting the market's rallies. — VNA/VNS Photo

The market ended higher on Wednesday, boosted by oil and banking stocks, while liquidity also soared.

The benchmark VN-Index of the Hochiminh Stock Exchange (HoSE) extended its winning streak to six consecutive sessions on Wednesday, reaching a remarkable new high of 1,861 points, a gain of 45.31 points, or 2.49 per cent.

The performance surpassed experts' expectations significantly, as they predicted the index would hover around 1,840 points after its inaugural close above the 1,800-point mark.

Unlike earlier sessions characterised by volatility, today's market displayed a unified upward trend. Nearly 260 stocks on the HoSE posted gains, outnumbering declines by a ratio of 3 to 1. Liquidity also surged to nearly VNĐ33 trillion (US$1.3 billion).

The VN30 index, which represents large-cap stocks on HoSE, increased by 40.8 points, edging closer to the psychological threshold of 2,100 points. Up to 28 stocks closed above their reference prices compared to only two in the red.

Positive signals were pervasive across the market, particularly among key sectors. The oil and gas sector led the charge, seeing multiple stocks hit their ceiling prices and close without available sellers, including Petrolimex (PLX), PV Gas (GAS), PetroVietnam Transportation Corporation (PVT), Binh Son Refining and Petrochemical JSC (BSR) and PV Power (POW).

The banking sector also saw a broad increase, with BIDV (BID) leading with a rise of 5.3 per cent. Vietcombank (VCB) and Vietinbank (CTG) followed, accumulating gains of 4 per cent and 3.5 per cent, respectively, while smaller-cap stocks generally increased by approximately 2 per cent.

However, Sacombank (STB) was an exception, declining nearly 6 per cent due to disappointing fourth-quarter performance figures, making it the most detrimental stock impacting the index today.

Vin stocks continued to provide significant support to the VN-Index, with Vingroup (VIC) rising 3.4 per cent and Vinhomes (VHM) increasing by 5.4 per cent.

The HNX-Index on the Hanoi Stock Exchange (HNX) snapped its fourth losing day streak, gaining 2.88 points, or 1.17 per cent, to 249.4 points.

Foreign investors returned to net buying after two consecutive sessions of selling at the start of the year, net buying nearly VNĐ522 billion on HoSE and VNĐ25.12 billion on HNX. 

Bizhub