VN-Index rises for second day despite low liquidity, stronger selling force

VN-Index rises for second day despite low liquidity, stronger selling force

Also supporting the market, foreign investors recorded net buying for a second consecutive session, although the value narrowed to around VNĐ75 billion.

A LNG storage tank in the Thị Vải LNG terminal, under the operation of PV Gas. Shares of PV Gas soared nearly 1.8 per cent on Wednesday, aiding the market's bullish sentiment. — Photo pvgas.com.vn

The stock market was mixed on Wednesday, with the VN-Index extending gains as buying interest in several large-cap stocks during the closing auction helped the benchmark reverse earlier losses.

The VN-Index, representing the Hochiminh Stock Exchange (HoSE), gained 3.83 points to close at 1,746.90 points. Selling pressure intensified during the afternoon session, briefly pushing the benchmark below 1,735 points. However, demand for selected large-cap stocks during the closing ATC auction helped narrow the losses and lift the index above its reference level.

The breadth of the market was negative, with 157 stocks declining while 136 ticker symbols increased. Trading on the HoSE reached more than 680.4 million shares, worth VNĐ13.84 trillion (US$539.6 million). 

The strongest buying interest emerged in several heavyweight stocks, including Vingroup (VIC), Vinhomes (VHM), PV Gas (GAS), Vietcombank (VCB) and BIDV (BID).

VIC was the biggest contributor to the rally, rising 1.3 per cent to VNĐ245,200 per share and adding around five points to the VN-Index. Its contribution exceeded the benchmark's total gain for the session, highlighting the significant influence of a small number of heavyweight stocks on the overall market movement.

Other large-cap shares also supported the index. GAS gained 1.8 per cent, VHM rose 0.8 per cent, while VCB and BID advanced by around 0.7-0.8 per cent.

Banking stocks improved towards the close, with Saigon-Hanoi Bank (SHB) climbing 2.3 per cent to VNĐ11,150 per share. SHB recorded trading volume of 60.8 million shares, the highest across the market.

Tien Phong Commercial Joint Stock Bank (TPB) was another standout, gaining 3.15 per cent.

However, losses in several influential stocks continued to cap the gain. 

Masan Consumer (MCH) was the largest drag on the VN-Index, reducing the benchmark by around 0.87 points. VPBank (VPB), Sacombank (STB), Vinamilk (VNM), Masan Group (MSN) and Techcombank (TCB) also closed lower. STB fell 1.7 per cent, while VNM declined 1.6 per cent.

On the Hanoi Stock Exchange (HNX), the HNX-Index lost 0.53 points to close at 255.73 points. Trading volume reached 37 million shares, worth over VNĐ612 billion, down 55 per cent from the previous session. 

Also supporting the market, foreign investors recorded net buying for a second consecutive session, although the value narrowed to around VNĐ75 billion.

VIC attracted the largest net foreign purchases, worth VNĐ139 billion, followed by PV Power (POW) at VNĐ79 billion and VHM at VNĐ47 billion. 

Bizhub