VN-Index hits nearly one-month high

VN-Index hits nearly one-month high

Also supporting the market, foreign investors broke a five-session selling streak, net buying over VNĐ1.7 trillion on HoSE.

Customers conduct transactions at an LPBank office. Shares of the lender logged the biggest daily gain of 7 per cent on Tuesday, supporting the market's rallies. — Photo courtesy of the bank

Despite poor performance in parts of the trading board, improving liquidity and support from large-cap names, especially Vingroup (VIC) and several banking stocks, helped benchmark indices finish higher on Tuesday. 

On the Hochiminh Stock Exchange (HoSE), the VN-Index rose 11.13 points to 1,869.04 points, the highest close in nearly a month. The HNX-Index on the Hanoi Stock Exchange (HNX) also climbed 5.32 points to close at 326.38 points.

Both exchanges recorded the number of decliners surpassing that of gainers. However, liquidity across the market improved markedly from the previous session. On HoSE alone, trading value reached nearly VNĐ31 trillion (US$1.2 billion).

The focus continued to be the Vin-related group. Particularly, VIC remained the biggest contributor to the VN-Index, adding 14.3 points to the benchmark.

Another standout was LPBank (LPB), which jumped to the ceiling price and contributed around 2.15 points to the overall index, ranking only behind VIC.

The move reportedly followed immediately after the bank released a shareholder list indicating ownership above 1 per cent of charter capital. Notably, Phạm Nhật Vượng appeared on the list with 146.2 million LPB shares, equivalent to 4.894 per cent of charter capital.

Market participants quickly focused on the information, which in turn drew heavy order flow into the banking stock.

Others in the banking sector generally traded positively. Techcombank (TCB) rose 3.72 per cent, VPBank (VPB) increased 2.12 per cent, Asia Commercial Joint Stock Bank (ACB) gained 1.59 per cent, HDBank (HDB) jumped 1.58 per cent, Vietinbank (CTG) rose 0.44 per cent, and BIDV (BID) was up 0.47 per cent. 

In contrast, securities stocks faced clearer downward pressure, with Saigon - Hanoi Securities (SHS) falling 3.66 per cent, Vietcap (VCI) declining 2 per cent, VNDirect Securities (VND) dropping 1.66 per cent, SSI Securities (SSI) decreasing 1.29 per cent, and VIX Securities (VIX) sliding 1.72 per cent.

Foreign investors broke a five-session selling streak, net buying over VNĐ1.7 trillion on HoSE.

According to Tien Phong Securities (TPS), the VN-Index's rise currently relies significantly on a small set of large-cap stocks, while the participation of the broader market is still limited. This suggests the VN-Index has not yet fully reflected the market’s overall strength.

TPS also said that short-term volatility could reappear if the leading group faces profit-taking pressure.

"The 1,810-point zone is seen as a nearby support level and may help support the current recovery trend if the market experiences technical pullbacks," TPS wrote, adding that the 1,810-point area is viewed as a nearby support level that may underpin the current recovery trend if technical pullbacks occur. 

Bizhub