Large-cap stocks lift benchmark indices

Friday, May 12, 2023 17:50

Vincom centre on Pham Ngoc Thach Street, Ha Noi. Vingroup's shares climbed by 2.38 per cent on Friday, supporting the market's uptrend. — VNS Photo Mai Huong

The market ended the week on a positive note, buoyed by gains in large-cap stocks as the investor risk appetite improved.

On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index recouped from the previous losses to close the session at 1,066.9 points, up 9.78 points, or 0.93 per cent.

The breadth of the market was positive, of which 180 stocks on the southern bourse rose while 122 ticker symbols inched down. Investors poured nearly VND12 trillion (US$510.3 million) into the exchange, with a trading volume of 725.8 million shares.

The index's reversal was driven by gains in pillar stocks. The VN30-Index, which tracks the 30 biggest stocks on HoSE, added more than 11.5 points, or 1.09 per cent, to 1,066.44 points.

Twenty stocks of the VN30 basket advanced, while seven stocks declined and three stayed unchanged.

Real estate and banking industries led the rallies, with Vinhomes (VHM) being the biggest gainer. The property developer's shares soared 4.17 per cent in the last trading session of the week.

The real estate giant posted a net revenue of VND29.29 trillion in the first quarter of 2023, 3.3 times higher than the first quarter of 2022, with profit after tax of VND11.92 trillion, 2.5 times higher than the same period last year.

Other great contributors to the market were Vietcombank (VCB), Vingroup (VIC), Hoa Phat Group (HPG), and FPT Corporation (FPT). These stocks gained at least 1.8 per cent.

Also supporting the bullish trend, securities stocks performed well. Particularly, SSI Securities Corporation (SSI) jumped nearly 3.8 per cent, VNDirect Securities Corporation (VND) rose over 1.9 per cent, and Saigon - Hanoi Securities JSC (SHS) was up 2.73 per cent.

The HNX-Index on the Ha Noi Stock Exchange (HNX) extended its rallies to the fifth straight session. It finished the day at 215.1 points, up 0.69 points, or 0.32 per cent.

During the trade, more than 118.4 million shares were traded on HNX, worth nearly VND1.6 trillion.

Foreign investors continued to inject capital into the main exchanges, with a net bought value of VND 5.37 billion. Of which, they net bought VND1.33 billion on HoSE and VND4.04 billion on HNX. — VNS

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