Market ends week on a positive note

Saturday, Oct 28, 2023 06:58

An employee performs transactions at Vietcombank's office in Vĩnh Phúc Province. The bank's shares surged nearly 3.6 per cent yesterday, leading the market's rally. — VNA/VNS Photo

The stock market ticked up on Friday, recovering from the strong loss hit in the previous session, thanks to the reversals of pillar stocks.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 5.17 points, or 0.49 per cent, to 1,060.62 points.

The index tumbled more than 46 points on Thursday. Following the sharp correction, the State Securities Commission (SSC) affirmed that the stock market is stable and that investors should obtain official information, assess macroeconomic data comprehensively and be cautious when it comes to false rumours.

According to the SSC, despite the fluctuations under the combined impact of many factors, the stock market still shows stability through improvements in liquidity and the number of new accounts.

The breadth of the market was positive on the southern bourse, as the number of gainers surpassed that of losers.

Liquidity, however, decreased strongly from the previous session. Of which, the trading value fell 40.9 per cent to VNĐ13.7 trillion (US$557.4 million), while trading volume was down 42.3 per cent to 692.2 million shares.

The VN30-Index, which tracks the 30 biggest stocks on HoSE, also rebounded to 1,067.57 points, an increase of 2.62 points, or 0.25 per cent. In the VN30 basket, 19 stocks inched higher, while seven went down with one ticker symbol hitting the floor prices. And four stocks stayed flat.

The index's reversal was driven by the recoveries of pillar stocks, led by BIDV (BID). Shares of the lender soared nearly 3.6 per cent on Friday.

Also influencing the market's uptrend, PV Gas (GAS) increased 2.78 per cent, Hòa Phát Group (HPG) jumped 2.41 per cent, Vietcombank (VCB) rose 0.59 per cent, and Liên Việt Post Joint Stock Commercial Bank (LPB) logged the biggest intra-day gain of 7 per cent.

However, the index's rallies were capped by losses of some large-cap stocks. In particular, Vinhomes (VHM) posted the biggest loss of 6.22 per cent, followed by Masan Group (MSN) down 5.86 per cent, Sabeco (SAB) dipped 4.68 per cent and Vincom Retail (VRE) lost 7 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished the week higher at 218.04 points, a gain of 3.06 points, or 1.42 per cent.

Meanwhile, foreign investors were net sellers on the southern exchange today after net selling a value of VNĐ350.11 billion. However, they net bought VNĐ 43.52 billion on HNX. — VNS

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