Market rebounds, ending two-day losing streak

Wednesday, Sep 20, 2023 17:11

Vinhomes Imperia Hải Phòng Urban Area, a project built by Vingroup. The company's shares soared nearly 3.5 per cent on Wednesday, leading the market's uptrend. — VNA/VNS Photo

The Vietnamese stock market recovered on stronger demand force after recent corrections, while foreign investors continued to withdraw from main exchanges.

The VN-Index on the Hồ Chí Minh Stock Exchange increased over 14.6 points, or 1.21 per cent, to close Wednesday at 1,266.11 points. The recovery helped recoup most of the losses hit in the last two sessions.

On the southern bourse, breadth of the market returned to a positive zone with 275 stocks advancing, while 52 ended lower. Liquidity decreased over the previous session, but remained above VNĐ20 trillion.

Particularly, VNĐ20.37 trillion (US$838.25 million) worth of shares was traded on HoSE, equal to more than 878 million shares.

The index's reversal was mainly driven by strong rebounds in real estate stocks and other pillars in the securities industry.

The VN30-Index, which tracks the 30 biggest stocks on the southern exchange, extended rallies. It closed today at 1,234.57 points, an increase of 9.07 points, or 0.74 per cent.

Twenty-two ticker symbols of the VN30 basket rose, while six slid and two stayed flat.

Vin-family stocks witnessed impressive recoveries today, with Vingroup (VIC) leading the recovery trend. The group's shares jumped nearly 3.5 per cent, followed by Vinhomes (VHM), up 2.74 per cent.

The last member of the Vin-family trio stock, Vincom Retail, also posted a gain of more than 1.8 per cent.

Other stocks in the realty sector also performed well, such as Đất Xanh Group (DXG) climbing 4.3 per cent, Development Investment Construction JSC (DIG) soaring 3.3 per cent, and Novaland (NVL) even hitting the maximum daily gain of 7 per cent.

Also lifting the market, most of the securities stocks are in green. Among them, Vietcap Securities JSC (VCI) jumped 4.84 per cent, VNDirect Securities Corporation (VND) increased over 2 per cent, Saigon - Hanoi Securities JSC (SHS) was up 3.06 per cent, Hồ Chí Minh City Securities Corporation (HCM) increased by 1.88 per cent, and VIX Securities JSC (VIX) surged 5.05 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also bounced back on Wednesday. It gained 4.6 points, or 1.84 per cent, to 254.82 points. Nearly 92.2 million shares were traded on the northern bourse, worth over VNĐ1.95 trillion.

Meanwhile, foreign investors remained to be net sellers on both main exchanges. They net sold a total of VNĐ225.39 billion on HoSE and HNX. — VNS

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