Market marks the largest gains in 5 months

Friday, Oct 28, 2022 08:21

Customers at a transaction office of BIDV. The bank's shares jumped 7 per cent yesterday, the biggest intra-day gain on the southern bourse, lifting the market's sentiment. — Photo

Benchmark indices surged more than 3 per cent yesterday, with many stocks hitting ceiling prices on the improvement of liquidity. The recovery helped the VN-Index move above the key level of 1,000 points.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index finished the day at 1,028.01 points, up 34.65 points, or 3.49 per cent. This was the largest one-day percentage gain of the market's benchmark since May 25.

Shares tilted to the upside with 305 stocks climbing on the southern bourse, while only 51 ticker symbols declined. Liquidity also showed signs of improvement as matching value on HoSE reached more than VND9.5 trillion (US$383.7 million), a gain of 63 per cent over the previous session.

The 30 biggest stocks tracker VN30-Index also posted a gain of 38.09 points, or 3.85 per cent, to 1,028.5 points. Twenty-eight stocks in the VN30 basket inched higher, of which nine stocks registered the maximum daily rise of 7 per cent, while only two stocks ended flat.

Similarly, the HNX-Index on the northern bourse Ha Noi Stock Exchange (HNX) settled up on Thursday. The index increased by 7.68 points, or 3.73 per cent, to 213.63 points.

During the session, more than 59.4 million shares were traded on HNX, worth VND818.41 billion.

Statistics from financial website showed that stocks across all sectors contributed to the market's rally yesterday. However, banking stocks still led the uptrend with numerous ticker symbols hitting ceiling prices.

Specifically, BIDV (BID) was the biggest gainer in market capitalisation yesterday, up 7 per cent. Other names in the top five stocks influencing the market's trend were Vietcombank (VCB), up 2.43 per cent, Vietinbank (CTG) rose 7 per cent, Masan Group (MSN) and VPBank (VPB) up 6.41 per cent and 6.43 per cent, respectively.

Strong gains in manufacturing, utilities, retail, real estate and information technology (IT) industries also supported the sentiment.

In contrast, foreign investors decided to leave the Vietnamese market yesterday as they net withdrew over VND159 billion on both main exchanges. Of which, they net sold VND168.52 billion on HoSE, while net bought VND9.47billion on HNX. — VNS

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