Market ends higher to log weekly gain
Net inflows of foreign capital also helped lift the market.
The market finished higher on the last trading day of the week, buoyed by improved sentiment ahead of a long holiday and the restructuring activities of exchange-traded funds (ETFs).
The VN-Index on the southern exchange rose by 9.49 points, or 0.91 per cent, to close the week at 1,049.12 points. It logged a weekly gain after undergoing choppy sessions.
The index traded sideways in the morning session with low liquidity.
However, buying force got stronger in the afternoon session thanks to the restructuring of domestic ETFs, lifting investor sentiment.
On the Ho Chi Minh Stock Exchange (HoSE), gainers doubled decliners while liquidity also increased over the previous session. Particularly, the trading value and volume rose 18.1 per cent and 19.8 per cent, respectively, to VND10.28 trillion (US$438.2 million) and 613.1 million shares.
The VN30-Index, which tracks the 30 biggest stocks on HoSE, also inched higher. It added up 9.89 points, or 0.95 per cent, to 1,051.43 points. Twenty-three stocks of the VN30 basket advanced, while six declined and one stock closed flat.
On the Ha Noi Stock Exchange (HNX), the HNX-Index rose for the third day in a row, up 1.62 points, or 0.79 per cent, to 207.48 points.
In the last session of the week, investors poured more than VND1.1 trillion on the northern bourse, equal to a trading volume of 74.9 million shares.
Statistics showed that stocks of appealing sectors like real estate and banking, continued to lead the market's rallies.
Specifically, Vinhomes was the biggest gainer today with a gain of over 4.2 per cent in market capitalisation. The property developer's shares had lost more than 1 per cent on Thursday.
The other two stocks in the Vin family, Vingroup (VIC) and Vincom Retail (VRE), also rebounded from the previous losses. They were up 3.17 per cent and 2.59 per cent, respectively.
Also lifting the market, VP Bank (VPB), SeaBank (SSB), Vietinbank (CTG), and Vietcombank (VCB) posted great increases, up in a range of 0.56-2.58 per cent.
On the other hand, some stocks still faced selling pressure, with BIDV (BID), Techcombank (TCB) and Sabeco (SAB) being the top three dominating the downtrend. These stocks fell 0.91-1.15 per cent on Friday.
The market also received support from inflows of foreign capital. Foreign investors continued to pour more than VND195 billion into the two main exchanges. Of which, they net bought VND168.48 billion on HoSE and VND26.73 billion on HNX.
The market will be closed for holidays starting tomorrow to next Wednesday. — VNS
