Shares gain ground on the back of large-caps

Wednesday, Sep 13, 2023 07:01

Investors at SSI Securities Inc (SSI)'s exchange floor. SSI rose 7 per cent yesterday. — Photo SSI

Shares gained ground on Tuesday thanks to the sharp rises of large-caps, especially those in the securities and real estate group, supporting the overall market.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 1.78 per cent to close at 1,245.44 points. The index had lost 0.17 per cent in the last three sessions.

The market's breadth turned positive with 116 stocks declining, while 407 rose.

Nearly 968 million shares traded on the southern bourse, worth VNĐ23 trillion (US$435.2 million).

The 30 biggest stocks tracking VN30-Index rose 2.04 per cent to 1,255.83 points. All 30 stocks in the VN30 basket increased.

Securities stocks soared at the end of the session with many strong gainers, namely SSI Securities Inc (SSI), Asia - Pacific Securities Joint Stock Company (APS), Việt Nam Bank For Industry & Trade Securities JSC (CTS), VNDirect Securities Co (VND), Bank for Investment & Development of Vietnam Securities Company (BSI) and VIX Securities Joint Stock Company (VIX).

Real estate and construction stocks witnessed a dramatic gain in prices, such as Khang Điền House (KDH), Novaland (NVL) and Phát Đạt Real Estate Group (PDR).

It is expected that the market will need time to fluctuate in the area of 1,210 - 1,240 points before having more specific signals, said Việt Dragon Securities Co.

“Therefore, investors need to observe supply and demand developments and re-evaluate the market state. Temporarily still consider the possibility of taking profits or reducing the proportion of stocks that have increased rapidly to the resistance zone or are weakening from the resistance zone,” it said.

On a sector basis, all 25 sectors on the stock market lost ground including wholesale, insurance, real estate, IT, retail, banking, food and beverages, logistics and construction, securities, energy, agriculture, rubber production, seafood processing, construction material and spare parts.

Meanwhile, the HNX-Index on the Hà Nội Stock Exchange (HNX) gained 1.99 per cent, to close Tuesday at 256.32 points.

During the trading session, investors poured VNĐ1.9 trillion into the northern market, equivalent to a trading volume of 97.5 million shares. — VNS

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