Market extends rallies, VN-Index inches closer to 1,400 points

A Techcombank's transaction office during working hours. The bank shares jumped more than 4.5 per cent yesterday, boosting the general market's sentiment. — Photo courtesy of Techcombank

Shares climbed higher on Monday as investors’ sentiment improved, supporting pillar stocks.

On the Ho Chi Minh Stock Exchange (HOSE), the market benchmark VN-Index jumped 21.36 points, or 1.56 per cent, to 1,394.09 points. The index extended rallies after rising 2.8 per cent last week, and inched closer to the threshold of 1,400 points.

The market’s breadth was positive with 221 stocks climbing, while 188 stocks slid. The liquidity was higher than the last session. Of which, over 764.3 million shares were traded on the southern bourse, worth nearly VND22.8 trillion (US$1 billion). The trading volume rose 26.6 per cent over the last trading session.

The benchmark’s bullish sentiment was driven by strong gains in many large-cap stocks, especially in real estate, bank and manufacturing stocks.

The VN30-Index, tracking the 30 biggest stocks on HoSE, reported a gain of 33.73 points, or 2.28 per cent, to 1,510.27 points. Of the VN30 basket, 28 stocks increased while only two declined.

Vingroup (VIC) was the market’s most influencer yesterday, up 2.91 per cent. Other two stocks of the trio stocks of the Vin family, including Vinhomes (JSC) and Vincome Retail (VRE) also contributed to the market’s uptrend, up 1.38 per cent and 4.46 per cent, respectively.

Supporting the market’s bullish sentiment, many big bank stocks witnessed outstanding performance, data compiled by vietstock.vn showed, with gains of at least 2 per cent.

These stocks included Techcombank (TCB), up 4.45 per cent, BIDV (BID) up 2.04 per cent, Vietinbank (CTG) up 5.26 per cent, MBBank (MBB) up 3.97 per cent, and VPBank (VPB), up 2.51 per cent.

Hoa Phat Group (HPG) and Masan Group (MSN) also climbed more than 1 per cent yesterday.

Investors will focus on the third quarter business statements this week.

On the Ha Noi Stock Exchange (HNX), the HNX-Index also finished higher yesterday on back of pillar stocks. The index climbed 2.24 points, or 0.65 per cent, to 374.34 points.

During the session, investors poured nearly VND2.1 trillion into HNX, equivalent to a trading volume of more than 99.75 million shares.

Meanwhile, foreign investors were net buyers on both main exchanges, with a total value of VND427.97 billion. Of which, they net bought a value of VND423.92 billion on HoSE, and a value of VND4.05 billion on the northern market. — VNS