VN-Index returns to 1,800 point-level

VN-Index returns to 1,800 point-level

Activity on the market still appeared subdued as capital inflows had not yet shown a decisive breakout and foreign investors continued net selling.

The Vietnam Exposition Centre in Hà Nội's Đông Anh Commune, a project developed by Vingroup. Shares of Vingroup climbed 1.45 per cent on Wednesday, leading the market's rally. — VNA/VNS Photo

Benchmark indices ended mixed on Wednesday, with the VN-Index successfully regaining the 1,800-point mark for the second consecutive day, however, activity on the market still appeared subdued as capital inflows had not yet shown a decisive breakout and foreign investors continued net selling.

On the Hochiminh Stock Exchange (HoSE), the VN-Index rose 10.66 points, or 0.6 per cent, to 1,803.7 points. The VN30-Index, tracking the 30 biggest stocks in terms of market capitalisation on HoSE, also gained over 9 points, or 0.46 per cent, reaching nearly 1,961 points.

In contrast, the HNX-Index on the Hanoi Stock Exchange (HNX) fell 4.59 points, or 1.5 per cent, to over 301 points.

Market participants reportedly traded in a tug-of-war pattern for most of the day. 

After the VN-Index at one point dipped below the reference price in the morning, the index gradually recovered and then accelerated toward the end of the session, aided by large-cap pull, with real estate stocks among the strongest supports.

Trading value on HoSE continued to stay high, as nearly VNĐ20 trillion worth of shares were traded on the southern bourse. Its market breadth was positive, with 207 advancing stocks, nearly doubling those that declined. 

Capital reportedly concentrated strongly in the real estate sector during the session. The key focus was Novaland's NVL, which rose to the ceiling price. 

The move was described as helping NVL regain a more positive trading tone after about one month of weakness. However, NVL's current trading price remained roughly 31 per cent lower than the peak recorded at the beginning of May.

Several other real estate tickers recorded gains, including Vingroup (VIC) up 1.45 per cent, Vinhomes (VHM) 0.55 per cent, Vincom Retail (VRE) rising 1.89 per cent, Sai Gon VRG Investment Corporation (SIP) soaring 2.41 per cent and Hoang Huy Investment Financial Services (TCH) up 2.7 per cent.

Particularly, VIC was the biggest contributor to the VN-Index with a contribution of 4.65 points. Other supportive names listed included BIDV (BID), VHM, Vietnam Rubber Group (GVR), NVL, Vietjet Aviation (VJC) and Vietcombank (VCB).

On the downside, Sacombank (STB) was the largest drag on the index, subtracting 0.55 points, followed by Baoviet Holdings (BVH), Masan Group (MSN), Petrolimex (PLX), Petrovietnam Refining And Petrochemical Corporation (BSR) and Phu Nhuan Jewelry (PNJ).

Foreign investors maintained a negative posture, with net selling estimated at around VNĐ580 billion on HoSE. 

Bizhub