Market closes Feb on a positive note

Market closes Feb on a positive note

Also providing some support to the market, foreign investors returned to a net buying position on HoSE after two sessions prioritising sell-offs.

FPT Corporation's headquarters in Hà Nội. Shares of the company surged 2.65 per cent on Friday, supporting the market's uptrend. — Photo fpt.vn

The domestic stock market increased slightly despite a choppy session on Friday as widespread selling pressure from various sectors, particularly banking and consumer industries.

On the Hochiminh Stock Exchange (HoSE), the VN-Index managed to increase 0.69 points, or 0.04 per cent, to 1,880.33 points. Earlier in the afternoon, however, the index had dipped by more than 16 points before rallying towards the close.

The southern market's breadth was negative as more than 200 stocks advanced while 132 stocks ticked down. Liquidity also decreased from the previous session, down 5 per cent to over VNĐ30 trillion (US$1.2 billion). This suggests that investor sentiment remains cautious amid the prevailing market volatility.

Conversely, the 30 biggest stocks tracker - VN30-Index - fell 8.07 points, or 0.39 per cent, to 2,061.75 points, signalling that the selling pressure was more pronounced among large-cap stocks. Nineteen stocks in the VN30 basket declined while ten edged higher. 

Notable performers within the VN30 included FPT Corporation (FPT), Vinpearl (VPL) and Vingroup (VIC), with increases of around 1-2 per cent. However, this was insufficient to provide substantial momentum for the index.

In contrast, Sacombank (STB), Vincom Retail (VRE), Vinamilk (VNM) and Hoa Phat Group (HPG) faced aggressive profit-taking, declining between 2 and 3.5 per cent, which significantly contributed to the downtrend of the VN30.

Sector-wise, declines were particularly notable in the banking, natural resources, food and beverage and insurance segments.

During the trading session, certain accounts displayed hanging sell orders, prompting several brokerage firms to announce temporary halts on securities settlements.

This disruption occurred because the Vietnam Securities Depository and Clearing Corporation (VSDC) had not yet completed the payment processes for transactions made on February 27.

Specifically, government bonds and listed corporate bonds purchased on February 26, as well as stocks, mutual fund certificates and covered warrants bought on February 25, faced delays in trading as originally scheduled. 

However, by approximately 2.30pm, the State Securities Commission (SSC) announced that the payment system had returned to its normal operations.

The HNX-Index on the Hanoi Stock Exchange (HNX) also rose by 0.49 points, or 0.19 per cent, to reach 262.82 points. 

Providing some support to the market, foreign investors returned to a net buying position of over VNĐ182 billion on HoSE after two sessions prioritising sell-offs. 

Bizhub