VN-Index finishes higher in last minutes on bargain-hunting demand

VN-Index finishes higher in last minutes on bargain-hunting demand

The index hit a low session at 1,734.94 points. From its intraday low, the index recovered nearly 24 points.

A view of VinWonders Nha Trang. Shares of Vinpearl soared over 3 per cent on Tuesday, leading the market's uptrend. — Photo vinwonders.com

Benchmark indices experienced a strong turbulence on Tuesday after heavy selling pressure pushed the VN-Index down nearly 18 points at one point, with bargain-hunting demand helping the benchmark reverse course and close higher.

The VN-Index, representing the Hochiminh Stock Exchange (HoSE), ended the session up 5.88 points at 1,759.08 points. The index hit a low session at 1,734.94 points. From its intraday low, the index recovered nearly 24 points.

Market breadth remained tilted towards negative territory, with 127 gainers and 177 decliners.

Trading liquidity improved sharply from the previous subdued session. Total trading volume reached 824.5 million units, worth nearly VNĐ19.6 trillion (US$753.4 million).

The VN30-Index, tracking the 30 biggest stocks on HoSE, also increased 4.36 points, or 1,898.82 points. 

Several stocks made positive contributions to the VN-Index, including Vinpearl (VPL), Vinhomes (VHM), Petrovietnam Refining And Petrochemical Corporation (BSR), LPBank (LPB), Techcom Securities (TCX), Vietcombank (VCB), Vinamilk (VNM) and Mobile World Investment Corporation (MWG).

Of which, VPL and VHM contributed over 2.5 points to the index. 

Energy stocks continued to perform positively, with gains recorded across several major names.

BSR rose by 2.3 per cent, while PetroVietnam Technical Services Corporation (PVS) gained 1.51 per cent, PV Drilling (PVD) increased by 4.2 per cent and Petrolimex (PLX) advanced by 1.97 per cent.

In contrast, PV Oil (OIL) fell by 0.76 per cent, while PetroVietnam Chemical and Services JSC (PVC) closed unchanged.

The positive performance of energy stocks provided support for the broader market amid strong fluctuations during the session.

Meanwhile, Phu Nhuan Jewellery (PNJ) remained under particularly strong selling pressure, falling to its floor price of VNĐ20,150 per share. More than 14.7 million shares remained offered at the floor price, with no corresponding buy orders.

The decline marked PNJ's 11th consecutive losing session, including six sessions in which the stock fell to its daily limit.

On the Hanoi Stock Exchange (HNX), the HNX-Index moved in the opposite direction, falling by 4.09 points to 265.53 points.

Foreign investors continued to sell heavily across the market, offloading more than VNĐ2.7 trillion on HoSE.

Selling was concentrated in three stocks, with HDBank (HDB) bearing the heaviest pressure at around VNĐ2 trillion in net foreign selling. Vietjet Aviation (VJC) followed with more than VNĐ808 billion, while PNJ recorded over VNĐ100 billion. 

Bizhub