Vingroup helps market reclaim 1,800 points

Vingroup helps market reclaim 1,800 points

Despite the strong index recovery, market liquidity declined. Total trading value across the two main exchanges stood at more than VNĐ13.6 trillion (US$524 million).

Inside a car production plant of VinFast, a subsidiary of Vingroup. The conglomerate's shares jumped 3.74 per cent on Tuesday, adding 14.6 points to the VN-Index. — Photo courtesy of VinFast

Benchmark indices rebounded strongly on Tuesday as renewed buying demand lifted the market, with Vingroup-linked stocks providing the main support for the benchmark.

On the Hochiminh Stock Exchange (HoSE), the VN-Index closed at 1,816.93 points, gaining more than 17 points from the previous session. The HNX-Index, representing the Hanoi Stock Exchange (HNX), also advanced by more than 2.5 points to 276.93.

Despite the strong index recovery, market liquidity declined. Total trading value across the two main exchanges stood at more than VNĐ13.6 trillion (US$524 million).

Market breadth was positive, with 219 stocks advancing and 181 declining.  

The VN30-Index, tracking the 30 biggest stocks on HoSE, rose over 12 points to 1,965.36 points. Within the VN30 basket, 16 ticker symbols increased while nine decreased and five stayed flat. 

Large-cap stocks Vingroup (VIC) and Vinhomes (VHM) were the main drivers behind the VN-Index's recovery after coming under selling pressure in the previous session.

VIC gained more than 3.7 per cent, while VHM advanced more than 1.9 per cent. Together, the two stocks contributed more than 18 points to the benchmark, exceeding the VN-Index's overall gain during the session.

Other large-cap stocks also provided support. Masan Group (MSN) rose strongly and contributed nearly one point to the index, while Gelex Electric (GEE), Vinamilk (VNM), VPBank Securities (VPX), Mobile World Investment Corporation (MWG) and Sabeco (SAB) collectively added more than two points.

MSN extended its gains over several sessions following the release of positive business results for the first eight months of the year.

The company reported net revenue of over VNĐ77 trillion during the period, an increase of 52 per cent year-on-year. Profit after tax before minority interests reached VNĐ8.5 trillion, about 2.2 times the level recorded in the same period last year.

While several large-cap stocks recovered, SSB shares of SeABank remained under heavy selling pressure.

SSB hit its daily floor for a second consecutive session following information that more than 8.4 million shares had been registered for sale by the bank's executives and their relatives.

The latest decline followed sharp movements in SSB in recent sessions. The stock had previously attracted attention around portfolio restructuring linked to Việt Nam's stock market upgrade before reversing sharply.

Foreign investors, meanwhile, returned to net buying after recording net selling on the first day of Việt Nam's secondary emerging market status under FTSE Russell.

They posted net purchases of nearly VNĐ63 billion during on HoSE and VNĐ4.8 billion on HNX. 

Thanh Thanh Cong - Bien Hoa JSC (SBT) attracted the largest foreign net buying at more than VNĐ140 billion, followed by Masan Consumer Corporation (MCH) at nearly VNĐ68 billion. VIC also recorded foreign net purchases of VNĐ49 billion. 

Bizhub