Energy and tech stocks drive market gains

Energy and tech stocks drive market gains

Energy shares led gains on Monday as the VN-Index rebounded and the HNX-Index extended its winning streak to six sessions.

Petrolimex station in Hà Nội. The company's share hit the daily limit growth on Monday. — VNA/VNS Photo

The stock market extended on Monday, with the VN-Index returning to gains after the previous session’s decline, while the HNX-Index marked its sixth consecutive advance, supported by strong performance in energy and technology shares.

The benchmark VN-Index on the Hochiminh Stock Exchange increased by 0.33 per cent to close at 1,927.94 points. Meanwhile, the HNX-Index on the Hanoi Stock Exchange added 0.71 per cent to 259.25 points.

Market breadth remained negative despite the gains, with 372 stocks declining against 352 advancers on both exchanges.

Liquidity improved from the previous session.

Trading value on the southern bourse reached more than VNĐ26.7 trillion (about US$885 million), with nearly 821 million shares traded, up 15.6 per cent in value and 10.2 per cent in volume.

On the northern exchange, more than 80 million shares worth VNĐ1.6 trillion changed hands, up 58 per cent in volume and 78 per cent in value compared to the previous session.

The market strengthened in the afternoon session as buying demand accelerated toward the close. Banking and energy stocks were among the main drivers, with Vietcombank (VCB, up 4.1 per cent), lender BIDV (BID; up 5.5 per cent), Bình Sơn Refinery (BSR) and PV Gas (GAS) together contributing more than 12 points to the VN-Index.

The energy sector led the market rally, surging 5.32 per cent on the day and extending its strong recovery trend. Major gainers included BSR, up 5.4 per cent; PLX rising 7 per cent; and PetroVietnam Drilling and Wells Service (PVD) climbing 6.2 per cent.

Technology and utilities stocks also performed well, gaining 2.59 per cent and 2.47 per cent, respectively. FPT rose 2.74 per cent while GAS gained 4.03 per cent.

In contrast, the real estate sector was the biggest drag on the market, declining 1.4 per cent as major developers retreated. Vinhomes (VHM) dropped 2.5 per cent, Vincom Retail (VRE) lost 2.7 per cent and Vingroup (VIC) slipped 1.32 per cent.

Sector performance data showed strong medium- and long-term momentum across several industries. Since the start of the year, communication services and energy were the best-performing sectors, soaring more than 60 per cent each, followed by real estate at 23 per cent and construction materials at 16 per cent.

The VN-Index moved within a narrow range last week, alternating between gains and losses while hovering near the historic peak of around 1,920 points. Vingroup-related stocks continued to play a key role in keeping the benchmark above the 1,900-point level.

According to analysts at Vietcombank Securities, the rotation of gains among sectors showed that cash flow remained active in the market, with no signs of capital leaving equities. As a result, the likelihood of a sharp correction near the peak zone remains low.

VCBS recommended investors maintain their portfolio exposure and focus on sectors still attracting cash flow or moving in stable sideways trends, including retail, banking and oil and gas stocks.

Foreign investors remained net sellers for another session, offloading more than VNĐ645 billion on both exchanges, mainly in HCM City, with a net sale value of VNĐ 610 billion. 

Bizhub