VN-Index soars above 1,800 point-level on large-cap stocks

VN-Index soars above 1,800 point-level on large-cap stocks

Also supporting the market, foreign investors maintained a net buying position of VNĐ341 billion on the HoSE and VNĐ10.48 billion on HNX.

Humanoid robots, which developed by Vingroup, are displayed at an exhibition in Hà Nội. Shares of the company surged over 5.4 per cent on Thursday, leading the market's uptrend. —VNS Photo Ly Ly Cao

The domestic stock market continued its upward trend amid a significant drop in liquidity as many investors adopt a cautious stance ahead of the Tết (Lunar New Year) holiday. 

By the end of the session, the VN-Index on the HoChiMinh Stock Exchange (HoSE) climbed 17.24 points, or 0.96 per cent, to 1,814.09 points. The VN-Index swiftly surpassed the 1,800-point mark after the market opened, although trading volumes remained low.

The southern bourse saw 177 stocks advance and 135 decline. Total trading volume reached 498.3 million shares, translating into a total value of nearly VNĐ16.4 trillion (US$631.1 million). 

This represented a sharp decline of 56.5 per cent in volume and 49 per cent in value compared to the previous session.

The VN30-Index, tracking the 30 biggest stocks on HoSE, also rose 15.57 points, or 0.78 per cent, to 2,016.47 points. In the VN30 basket, 14 stocks gained, while 12 declined and four ended flat. 

The real estate sector, particularly large-cap stocks, continued to provide substantial support to the VN-Index. 

Vingroup (VIC) rose by 5.4 per cent and Vinhomes (VHM) increased by 5.8 per cent, with these two stocks contributing nearly 20 points to the overall index. Additionally, Vincom Retail (VRE) and Mobile World Investment Corporation (MWG) saw increases of 1.9 per cent and 1.1 per cent, respectively, further solidifying the market's upward movement.

In contrast, the banking sector put some pressure on the index. MBBank (MBB) and BIDV (BID) both fell by over 2 per cent following a strong previous session. Other banks such as Vietcombank (VCB), Sahabank (SHB), VPBank (VPB), TPBank (TPB) and LPBank (LPB) also experienced adjustments.

The oil and gas sector moderated its morning gains but maintained a balanced state after previous declines. PV Drilling (PVD) rose by 1.7 per cent and Binh Son Refining and Petrochemical (BSR) increased by nearly 2 per cent, while Petrolimex (PLX) and PetroVietnam Transportation Corporation (PVT) closed at their reference prices.

Similarly, on the Hanoi Stock Exchange (HNX), the HNX-Index increased 0.62 points, or 0.24 per cent, to 256.48 points.  

Also supporting the market, foreign investors maintained a net buying position of VNĐ341 billion on the HoSE and VNĐ10.48 billion on HNX. 

Bizhub