Customers at VNDirect Securities Co (VND). VND hit the daily limit rise of 7 per cent on Monday. — Photo courtesy of VND
Vietnamese shares had a good start on Monday, driven by robust inflows on growing investor confidence.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 1.28 per cent to end Monday's trading session at 1,081.08 points.
The index had gained 2.06 per cent last week.
Nearly 714 million shares were traded on the southern bourse, worth VND14.3 trillion (US$616 million).
Market breadth was positive with 292 gainers and 138 decliners.
“Lasting from the previous session, the excited upturn helped the VN-Index continue to rise and successfully surpass the resistance level of 1,070 points,” said BIDV Securities Co.
“The market liquidity maintained an increase, its amplitude slightly decreased and the positive market breadth were all supporting this current uptrend. At the same time, foreign investors were net buyers on both HOSE and HNX.
“VN-Index might retest the resistance level of 1,100 points in the coming period thanks to the positive macro information along with the investment cash flow of both domestic and foreign investors maintaining this rally,” the company said.
Foreign investors net bought VND150.71 billion on HOSE, including Hoa Phat Group (HPG) with VND53.3 billion and Vietcombank (VCB) with VND31.4 billion. They were net buyers on the HNX with the value of VND280 billion.
The large-cap tracker VN30-Index was up 1.26 per cent to 1,049.71 points.
Twenty-one of the 30 large-cap stocks in the VN30 basket increased while four decreased.
Cash flow was injected into the market. Nineteen out of 25 sector indices on the stock market gained ground, including construction, logistics, wholesale, real estate, retail, insurance, IT, energy, banking, food and beverage, rubber production, securities and healthcare.
They gained between 0.1 and 6.6 per cent.
On the opposite side, losers were seafood processing and construction materials.
Securities stocks made the strongest gains with the best performers in the group including SSI Securities Incorporation (SSI), Viet Capital Securities Joint Stock Company (VCI) and VNDirect Securities (VND).
Banking stocks also maintained their gains until the end of the session, strongly supporting the indices. The best performers in the group included Bank for Investment and Development (BID), Vietinbank (CTG), Military Bank (MBB), Techcombank (TCB), HDBank (HDB), VPBank (VPB) and Vietcombank (VCB).
On the Ha Noi Stock Exchange, the HNX-Index rose 2.88 per cent to end Monday at 182.11 points.
Nearly 133 million shares were traded on the northern market, worth VND1.8 trillion. — VNS