VN-Index rebounds in the last minutes on rising buying demand

VN-Index rebounds in the last minutes on rising buying demand

In the final minutes, buying demand strengthened across several large-cap stocks and in the financial sector, pulling the benchmark index back into positive territory.

A BSR vessel uploading fuel for export. Shares of BSR climbed nearly 3.2 per cent on Tuesday, supporting the market's bullish sentiment. — Photo bsr.com.vn

After spending most of the session in negative territory, the market recovered in the last minutes on Tuesday as buying demand increased, helping the VN-Index reverse direction and reclaim the 1,848-point level.

At the close, the VN-Index on the Hochiminh Stock Exchange (HoSE) increased 4.75 points to 1,848.25 points.

The session was highly choppy. After facing strong selling pressure and even dipping below the 1,830-point mark at times, the market stabilised during the afternoon. In the final minutes, buying demand strengthened across several large-cap stocks and in the financial sector, pulling the benchmark back into positive territory.

On HoSE, the market recorded 169 advancing stocks and 140 declining, while liquidity decreased more than 27 per cent from the previous session to over VNĐ16.37 trillion (US$622.6 million).

The 30 biggest stocks tracker, the VN30-Index, also gained slightly by 4.8 points to 1,995.91 points. Within the VN30 basket, 16 stocks increased while nine decreased and five stayed unchanged. 

By sector, energy was the strongest performer, rising 1.75 per cent.

Key gainers included Petrovietnam Refining and Petrochemical Corporation (BSR), up 3.19 per cent, and PV Drilling (PVD), up 3.33 per cent. Other names showed a more mixed picture, with PetroVietnam Technical Services Corporation (PVS) down 1.1 per cent, Petrolimex (PLX) down 0.57 per cent and PV Oil (OIL) down 0.78 per cent.

The technology group also moved positively, with the sector index up 1.14 per cent. FPT Corporation (FPT) rose 0.27 per cent, Gelex Electric (GEE) gained 3.61 per cent and Duc Giang Chemicals Group (DDG) increased 8.33 per cent, while Elcom Technology Communications Corporation (ELC) edged up 0.3 per cent.

Notably, Phu Nhuan Jewellery (PNJ) continued to fall for a third consecutive session, slipping to VNĐ50,800 per share.

After three consecutive floor-down sessions, PNJ's market capitalisation was reported to have lost more than VNĐ6.2 trillion, with the decline attributed to the market's continued attention to information surrounding PNJ's diamond-related business activity. 

On the Hanoi exchange, the HNX-Index fell 2.77 points to 293.74 points. During the session, investors poured nearly VNĐ1.3 trillion into the northern market, equal to a trading volume of over 59 million shares. 

Also providing some support, foreign investors returned to the market today, net buying VNĐ43.26 billion on HoSE and VNĐ9.36 billion on HNX. 

Bizhub