Market continues to rebound strongly

Friday, Nov 25, 2022 18:45

Logo of Vincom shopping mall in Tran Duy Hung Street, Ha Noi. Vingroup's shares surged nearly 6.6 per cent yesterday, leading the market's rally. — VNS Photo Ly Ly Cao

The market finished the week higher on the strong recovery of blue-chip stocks, with the VN-Index adding nearly 24 per cent to break the psychological level of 970 points.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose 23.75 points to 971.46 points, or 2.51 per cent.

More stocks added points, helping lift investors' sentiment. On the southern bourse, 298 stocks advanced, while only 58 inched lower. Liquidity also improved, with matching value on HoSE reaching more than VND8.4 trillion (US$340 million), an increase of 22 per cent over the previous session.

The index extended rallies on the back of large-cap stocks. Accordingly, the VN30-Index, tracking the 30 biggest stocks on HoSE, jumped 26.73 points, or 2.84 per cent, to 967.49 points.

In the VN30 basket, 26 stocks edged higher with two stocks hitting ceiling prices, while only four stocks declined.

Statistics compiled by a finance website showed that Vingroup (VIC) led the bullish trend, up nearly 6.6 per cent. It was followed by other big names like BIDV (BID), Vinhomes (VHM), Masan Group (MSN), Vietinbank (CTG), and Hoa Phat Group (HPG). All the stocks gained at least 4.44 per cent.

Also supporting the market, retail, information technology, and securities stocks posted strong performance. Ticker symbols such as FPT Corporation (FPT), Petrolimex (PLX), and Viglacera Corporation (VGC) surged in a range of 2.13-7 per cent.

The HNX-Index (HNX) on the Ha Noi Stock Exchange (HNX) also closed the week higher, up 5.55 points, or 2.9 per cent, to 193.77 points.

On the northern bourse, nearly 57.1 million shares were traded during the session, worth VND 636.31 billion.

The market also received support from foreign cash inflows as foreign investors net bought VND985.75 billion on both main exchanges. Of which, they net bought VND962.5 billion on HoSE, and VND23.25 billion on HNX. — VNS

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