Market extends rally, VN-Index gains nearly 15 points

Monday, Aug 30, 2021 17:10

Vietinbank's office during transaction hours. The bank shares rose nearly 3.7 per cent yesterday as market sentiment improved. — VNA/VNS Photo

Shares settled higher yesterday, boosted by pillar stocks. However the market still witnessed foreign investors fleeing from both main exchanges.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) ended yesterday’s trade at 1,328.14 points, equivalent to a gain of 14.91 points, or 1.14 per cent. Last week, the index had lost 1.22 per cent due to a sell-off.

The market’s breadth was positive as 333 stocks climbed, while 64 stocks slid and 34 stocks ended flat. The liquidity was high with more than VND21.3 trillion (US$941.79 million) being injected into the southern bourse, equivalent to a trading volume of over 676.5 million shares.

The index was pulled by gains in many large-cap stocks with a quick recovery from bank stocks after last week’s tumbles.

Despite a positive session, analysts from SSI Securities Corporation (SSI) warned that the benchmark would soon face correcting pressure as the VN-Index was heading to the resistance area near 1,340 points and it was still in a short-term downtrend.

The 30 biggest stocks tracker VN30-Index recorded a rise of 0.88 per cent to close yesterday at 1,431.05 points. Of the VN30 basket, 20 stocks increased while only three stocks fell, and one stayed unchanged.

Bank stocks led the market’s rally trend, with four out of the top five most influential stocks in the banking sector. Data compiled by showed that Vietinbank (CTG) was the biggest gainer yesterday with an increase of 3.69 per cent, followed by Vietcombank (VCB), up 1.53 per cent.

The other three stocks were Hoa Phat Group (HPG), up 2.31 per cent, Techcombank (TCB), up 2.39 per cent and BIDV (BID), up 1.94 per cent.

Gains in real estate, utilities, information technology (IT) and retail stocks also supported the market.

On the other hand, selling pressure rose against some big material stocks in the afternoon session. Accordingly, Masan Group (MSN) posted losses of 2.43 per cent, while Saigon Beer - Alcohol - Beverage Corporation (SAB) fell 0.88 per cent.

Vingroup (VIC) also inched down 0.74 per cent yesterday.

The HNX-Index on the Ha Noi Stock Exchange (HNX) climbed 0.74 per cent to 341.3 points.

During the session, nearly 144.4 million shares were traded on the northern bourse, worth VND2.8 trillion.

Meanwhile, foreign investors were still net sellers on both main exchanges as they sold a total of VND408.36 billion. Of which, they net sold a value of VND392.3 billion on HoSE and a value of VND16.06 billion on HNX. — VNS

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