Vin stocks lift VN-Index past 1,830 point-level

Vin stocks lift VN-Index past 1,830 point-level

VIC alone contributed 23.37 points to VN-Index, while VHM added 8.7 points and VRE around 1 point.

The Hoang Gia Bridge, invested by Vingroup, connects the Vinhomes Royal Island project with the centre of Hải Phòng City. The company's shares soared 7 per cent on Thursday, leading the market's gain. — Photo courtesy of the company

 The market finished higher on Thursday, with the VN-Index breaching the 1,830-point mark despite breadth still leaning toward declines. 

At the close, the VN-Index on the Hochiminh Stock Exchange (HoSE) rose more than 24 points, or 1.34 per cent, to 1,830.47 points. 

However, the market's breadth leaned toward the negative zone, as the number of decliners over doubled that of gainers. Liquidity fell from the previous session to VNĐ17.4 trillion (US$662 million).

On the Hanoi Stock Exchange (HNX), the HNX-Index also advanced by 1.8 per cent, to 336.16 points.

The main engine of the session came from the Vin trio's stocks. Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE) all logged the biggest daily gain of 7 per cent

VIC alone contributed 23.37 points to the VN-Index, while VHM added 8.7 points and VRE around 1 point. Combined, the three stocks were reported to have pulled more than 33 points into the benchmark – well above the VN-Index's actual increase of over 24 points.

Vin stocks' rallies were built in the context of large, planned cash dividend distributions.

Previously, Vinhomes announced a plan to pay 2025 dividends in both cash and shares. The company set June 30 as the last registration date for cash dividends at a rate of 60 per cent worth over VNĐ24.6 trillion during the third quarter of this year.

PC1 Group (PC1) was also in focus. The stock climbed to its daily ceiling limit, described as a standout gain within the industrial sector.

The move occurred amid reports that related shareholders connected to Ho Chi Minh City Infrastructure Investment (CII) have been increasing their ownership in PC1. 

According to disclosures on HoSE, CII's related trading entity, CII Trading Investment, purchased an additional 500,000 PC1 shares on June 4, lifting holdings to more than 7.37 million shares, or 1.79 per cent of charter capital.

Earlier, the same entity reportedly bought nearly 3.9 million PC1 shares on June 2. 

Foreign investors continued to net sell a large amount on HoSE, offloading nearly VNĐ1.9 trillion. 

Bizhub