Market ends the week on a positive note

Friday, Oct 14, 2022 17:38

The logo of Asia Commercial Joint Stock Bank on its building in Ha Noi. The bank's shares jumped more than 4.5 per cent yesterday, contributing to the market's rally. — VNS Photo Mai Huong

The Vietnamese stock market closed the week higher, extending gains for the third straight session.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index inched up 10.86 points to 1,061.85 points, an increase of 1.03 per cent.

The HNX-Index on the Ha Noi Stock Exchange (HNX) also finished higher to 227.89 points, up 3.15 points, or 1.4 per cent.

The market's breadth inclined to a bullish zone with more stocks advancing. Of which, 390 stocks of the two main exchanges climbed in the trading session, while there were 124 stocks sliding.

Liquidity on HoSE and HNX, in general, rose 34 per cent over the previous session to nearly VND10.65 trillion (US$441.4 million).

The VN30-Index, which tracks 30 biggest stocks in market capitalisation on HoSE, posted a rise of 10.15 points, or 0.97 per cent, to 1,061.39 points. In the VN30 basket, up to 20 stocks added points, while five ended lower and five were flat.

The market benchmark VN-Index is expected to improve its tendency if it can hover above 1,055-1,060 points, a daily report to investors of Saigon - Hanoi Securities JSC (SHS) said.

The market's recovery streak was driven by blue-chip stocks which was led by Vietcombank (VCB). Accordingly, the bank's shares surged 2.41 per cent yesterday.

PV Gas (GAS), Mobile World Investment Corporation (MWG), Asia Commercial Joint Stock Bank (ACB) and BIDV (BID) also joined the top five stocks influencing the market's trend. These stocks all gained at least 1.67 per cent.

However, the market pared gains as some investors seized chances to take profits after the recent strong rebounds. Specifically, Vinhomes (VHM) reported the biggest losses with a drop of 1.7 per cent. The other two in the Vin family trio of stocks - Vingroup (VIC) and Vincom Retail (VRE) - also dipped 1.16 per cent and 1.56 per cent, respectively.

Foreign investors continued to be net buyers on both main exchanges with a value of VND264.3 billion. — VNS

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