VN-Index gains nearly 21 points on large-cap stocks

VN-Index gains nearly 21 points on large-cap stocks

The breadth of the market leaned heavily into negative territory, as the number of decliners was 213 stocks, more than double the number of gainers.

The Bà Triệu Vincom Centre in Hà Nội. Shares of the property developer climbed over 4.4 per cent on Tuesday, supporting the market's uptrend. — Photo Vincom Retail

Benchmark indices were mixed on Tuesday as the VN-Index edged higher, supported mainly by large-cap energy and real estate-related stocks.

On the Hochiminh Stock Exchange (HoSE), the VN-Index rose by 20.79 points, or 1.12 per cent, to 1,874.85 points. 

Market breadth leaned heavily into negative territory, as the number of decliners was 213 stocks, more than double the number of gainers. Liquidity continued to improve, with trading value reaching nearly VNĐ22.4 trillion (US$851 million).

The VN30-Index also rose, adding 17.68 points, or 0.88 per cent, to 2,032.30 points. Within the VN30 basket, 17 stocks decreased, while 12 increased and one ended flat. 

This advance was attributed primarily to the Vin family stocks. Vingroup (VIC) and Vinhomes (VHM) were reported as the two biggest contributors, adding 12.71 points and 8.51 points, respectively. These gains together surpassed the benchmark's overall point increase. 

Vinpearl (VPL) and Vincom Retail (VRE) also contributed positively, adding 1.1 and 0.75 points respectively.

Energy stocks remained supportive, even though gains were less pronounced than in the previous session. PV Gas (GAS) and Binh Son Refining and Petrochemical (BSR) rose by 1.6 per cent and 5.94 per cent, contributing 0.62 points and 1.68 points, respectively.

Banking showed a split. VPBank (VPB) and LPBank (LPB) supported the market, while several large lenders, including Vietcombank (VCB), Asia Commercial Joint Stock Bank (ACB), BIDV (BID), Techcombank (TCB), Sahabank (SHB) and MBBank (MBB), weighed on upside momentum.

The most prominent stock focus was Novaland's NVL, which continued to face heavy selling and closed at the floor price of VNĐ17,800 per share.

NVL's movement was linked to a rising sense of caution after a period of sharp rallies. Its trading price had nearly doubled in under two months and even hit the VNĐ20,000 threshold, the highest level in about three years.

Selling pressure persisted even as the company's quarterly results showed improvement. Its consolidated net revenue reached VNĐ3.6 trillion, nearly doubling year-on-year, while profit after tax rose to VNĐ860 billion. It posted a loss of roughly VNĐ480 billion in the prior year.

Meanwhile, the HNX-Index on the Hanoi Stock Exchange (HNX) declined by 2.62 points, or 1.05 per cent, to 247.42 points.

On the foreign flow front, investors remained net sellers in value terms on the southern bourse, offloading VNĐ996.5 billion. 

Bizhub