VN-Index rises nearly 19 points on God of Wealth Day

VN-Index rises nearly 19 points on God of Wealth Day

By the end of the session, the VN-Index on the Hochiminh Stock Exchange rose 18.73 points, or 1.01 per cent, to 1,879.64 points. The recovery erased all losses recorded in the previous trading session.

The entrance of the Times City urban complex, which is invested by Vingroup, in Hà Nội. Shares of the company logged the biggest daily gain of 7 per cent, leading the market's recovery. — Photo vinhomesgardeniacity.com

The benchmark VN-Index rebounded on Thursday, which also coincided with the God of Wealth Day, posting gains across most sectors despite heavy net selling by foreign investors that weighed on several large-cap stocks.

By the end of the session, the VN-Index on the Hochiminh Stock Exchange rose 18.73 points, or 1.01 per cent, to 1,879.64 points. The recovery erased all losses recorded in the previous trading session.

However, on the southern bourse the number of declining stocks exceeded gainers by 181 to 136. Liquidity fell from Wednesday’s session but remained high at nearly VNĐ31.7 trillion (US$1.2 billion).

The VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, advanced 20.18 points, or 0.98 per cent, to 2,069.82 points. Within the VN30 basket, 16 stocks rose, ten fell and four were unchanged.

The rebound was led by a standout performance from Vingroup (VIC).

Shares of the conglomerate surged 6.9 per cent.

Several other large-cap stocks also hit their daily ceiling or posted sharp gains. Gelex Electric (GEE) rose 7 per cent, PC1 Group gained 6.82 per cent and EVF General Finance (EVF) climbed 6.98 per cent.

Other notable gainers included Vincom Retail (VRE), Binh Son Refining and Petrochemical (BSR), PV Drilling (PVD), PV Trans (PVT), Gelex Group (GEX), Eximbank (EIB), Techcombank (TCB) and LPBank (LPB). These stocks rose between 2 and 4.2 per cent.

The advances reflected broad participation across sectors including real estate, energy and financial services.

However, gains were limited by sharp declines in several heavyweights. PV Gas (GAS) fell 3.64 per cent, Vietnam Rubber Group (GVR) dropped 3.32 per cent, Duc Giang Chemicals Group (DGC) lost 3.16 per cent and Gelex Infrastructure (GEL) declined 2.96 per cent.

On the Hanoi Stock Exchange, the HNX-Index snapped its recent rising streak, edging down 0.9 points, or 0.34 per cent, to 262.33 points.

Foreign investors remained strong net sellers, offloading more than VNĐ3.1 trillion on HoSE and VNĐ69.36 billion on HNX.

The gold market was also active as investors believe buying gold on the God of Wealth Day brings luck and prosperity for the year ahead.

At 4pm, SJC gold was quoted at VNĐ181 million per tael for sellers and VNĐ184 million per tael for buyers. At these levels, buyers who purchased SJC gold bars in the morning would have recorded a loss of VNĐ1 million per tael. 

Bizhub