Market edges up amid high liquidity

Market edges up amid high liquidity

Foreign investors continued its net selling trend on HoSE, offloading VNĐ625.62 billion worth of shares.

A Gelex Electricity booth at an exhibition. Shares of the company soared 7 per cent on Tuesday, leading the market's upbeat trend. —Photo gelex-electric.com

Benchmark indices finished higher on Tuesday, with many ticker symbols hitting ceiling prices.

On the Hochiminh Stock Exchange (HoSE), the VN-Index gained 6.9 points, or 0.38 per cent, to 1,813.4 points, temporarily escaping the short-term bottom established following a strong correction from the 1,900-point mark in the previous session. 

The index fell by over 22.5 points on Monday. 

The southern market's breadth was positive, as the number of gainers surpassed that of decliners by 191 to 127, with 15 stocks posting the maximum daily growth of 7 per cent. 

Market liquidity remained quite robust, with trading values on HoSE exceeding VNĐ33.2 trillion (US$1.3 billion).

In contrast, the VN30-Index extended losses. The 30 biggest stocks tracker decreased by 6.62 points, or 0.33 per cent, to 1,997.69 points. Sixteen stocks in the VN30 basket ticked down, while 12 edged higher and two remained flat. 

Data compiled by a financial website vietstock.vn showed that the oil and gas sector led the market's recovery. Of particular note was PV Gas (GAS), which rose by nearly 2.2 per cent, contributing 1.32 points to the index's gain. 

This was followed by Gelex Electricity (GEE), Bao Viet Holdings (BVH), Vietnam Rubber Group (GVR) and Becamex (BCM), with GEE and BVH hitting the ceiling prices, while GVR and BCM surged by 2.4 per cent and 4.37 per cent, respectively. 

The financial sector, and particularly bank and securities stocks, also posted positive performances. Numerous large-cap stocks regained their footing, helping to sustain the VN-Index.

In the banking sector, notable gains included MBBank (MBB) up by 1.47 per cent, Vietinbank (CTG) by 0.89 per cent and Vietcombank (VCB) by 0.42 per cent. 

Within the securities realm, significant gains were reported for VIX Securities (VIX), VNDirect Securities, Ho Chi Minh City Securities (HCM) and Vietcap (VCI), which increased by a range of 0.8-3.65 per cent. 

Conversely, some large-cap stocks continued to face adjustment pressure, including BIDV (BID), which slipped by 1.64 per cent, Techcombank (TCB) by 0.86 per cent, Sacombank (STB) by 0.79 per cent and VPBank (VPB) by 0.36 per cent.

Other heavyweight stocks also struggled to maintain momentum, with Vinamilk (VNM) down by 1.38 per cent, FPT Securities (FPT) slipping by 0.38 per cent, PetroVietnam Technical Services Corporation (PVS) dropping by 2.91 per cent and Petrolimex (PLX) decreasing by 1.48 per cent. 

The HNX-Index, which represents the northern bourse, the Hanoi Stock Exchange (HNX), closed at 265.18 points, up 4.79 points or 1.84 per cent. This marked its fourth straight day on the rise. 

As for foreign investor activity, net selling continued on HoSE, offloading VNĐ625.62 billion worth of shares. However, foreign investors net bought VNĐ4.2 billion on HNX. 

Bizhub