Market rebounds from cautious sentiment

Tuesday, Mar 12, 2024 17:48

A worker operates the logistics system at Viettel Post. Shares of the company started trading on HoSE on Tuesday and soared nearly 20 per cent. — VNA/VNS Photo

Indices recovered on Tuesday, ending two days of losses, while foreign investors net sold nearly VNĐ200 billion on the two main exchanges.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) increased 9.51 points, or 0.77 per cent, to 1,245 points. The gain helped recoup some of the losses set in the last two sessions.

Breadth of the market was back to positive territory, with 168 stocks inching higher and 137 ticking down.

The liquidity continued to fall from the previous session. Particularly, the trading value on the southern bourse reached VNĐ20.8 trillion (US$842 million), equivalent to a trading volume of over 836.2 million shares.

The VN30-Index, tracking the 30 biggest stocks on HoSE, edged higher at 1,242.23 points, up 7.11 points, or 0.58 per cent. In the VN30 basket, 17 ticker symbols advanced, eight declined and five ended flat.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also rebounded, closing the session at 234.04 points, up 0.19 points, or 0.08 per cent.

During the session, investors poured more than VNĐ1.7 trillion worth of shares into the northern exchange.

The market reversed while the bullish momentum remained highly cautious as cash flow weakened and no prominent stock group has emerged to lead the trend.

After losing nearly 1.2 per cent on Monday, shares of BIDV (BID), one of the Big4 State-owned commercial banks, soared 3 per cent and became the market’s leader today.

It was followed by Vietnam Rubber Group (GVR) as the company’s shares logged the biggest daily gain of 7 per cent.

Other pillars contributing to the recovery were Techcombank (TCB), up 2 per cent, FPT Corporation (FPT) rose 1.73 per cent, Vietinbank (CTG) jumped more than 1 per cent, Hoa Phat Group (HPG) rose 1 per cent and Masan Group (MSN) climbed 1.55 per cent.

Viettel Post JSC (VTP) surged 19.9 per cent to VNĐ78,400 per share on Tuesday, its first trading day on the southern bourse.

On the other hand, securities stocks still faced selling pressure. VNDirect Securities Corporation (VND) dipped 1.31 per cent, SSI Securities Corporation (SSI) was down 0.14 per cent, VIX Securities (VIX) plummeted 3.09 per cent and Saigon - Hanoi Securities SJC (SHS) dropped 1.67 per cent.

Meanwhile, foreign investors withdrew from the market with a value of VNĐ190.15 billion. In particular, they net sold VNĐ173.54 billion on HoSE and VNĐ15.61 billion on HNX. — VNS

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