Market mixed, VN-Index gains over 13 points

Market mixed, VN-Index gains over 13 points

The banking sector was the primary pillar supporting the market.

A customer conducts a transaction at a Vietcombank office in Hà Nội. Shares of the lender surged over 5.7 per cent on Thursday, supporting the VN-Index's rallies. — VNA/VNS Photo

The stock market saw a high-intensity fluctuating session on Thursday, with the VN‑Index repeatedly flipping between green and red before regaining strength in the final stretch of trading.

The rebound was largely driven by large-cap stocks, particularly banking, along with selective strength in parts of the real estate sector.

On the Hochiminh Stock Exchange (HoSE), the VN‑Index gained 13.06 points, or 0.70 per cent, to 1,870.36 points.

Liquidity remained active, with total trading volume reported at more than 1.03 billion shares, equivalent to nearly VNĐ29.3 trillion (US$1.1 billion). The market breadth was negative, with the number of decliners doubling that of gainers. 

The session's price action showed clear volatility. Buying demand reportedly weakened early afternoon, causing the index to retreat at times toward the 1,855-point area. However, buying returned strongly toward the end, allowing the benchmark to recover and hold its gains into the close.

The 30 biggest stocks tracker – VN30-Index – however, fell 0.67 points, or 0.03 per cent, to 2,024.74 points. Within the 30-stock basket, 19 stocks ticked down, while ten increased and one ended flat. 

The banking sector was the primary pillar supporting the market. Vietcombank (VCB) stood out, rising 5.7 per cent, while BIDV (BID) gained 3.4 per cent and Vietinbank (CTG) increased 1.7 per cent, all contributing to stabilising the index.

In contrast, the electricity-related group was facing strong selling pressure in the afternoon. PC1 Group (PC1) reportedly fell to the floor price. Other power names highlighted included Refrigeration Electrical Engineering Corporation (REE) dipping 4 per cent, PetroVietnam Power Nhon Trach 2 (NT2) dropping 3 per cent and Gia Lai Electricity (GEG) falling 2.7 per cent.

The securities sector also adjusted in line with the market’s decline rhythm, but narrowed losses late in the session due to bottom-fishing demand.

On the Hanoi Stock Exchange (HNX), the HNX‑Index fell 2.13 points, or 0.83 per cent, to 253.23 points.

Also adding pressure to the market, foreign investors extended their selling streak, offloading over VNĐ1.6 trillion on HoSE and VNĐ42.9 billion on HNX.

While the session ended with a gain in the benchmark index, the strong divergence between sectors reflected a market still cautious amid profit-taking pressure and persistent foreign net selling. 

Bizhub