The market extended gains on Tuesday as a strong injection of cash was poured into a series of banking and real estate stocks, propelling the indices.
The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) gained by 1.13 per cent, to 1,354.63 points.
The market's breadth was positive with 238 stocks climbing and 157 stocks declined.
During the session, investors poured VND19.3 trillion (US$848 million) into HoSE, equivalent to a trading volume of 636.3 million shares.
The index was supported by gains in large-cap stocks, especially bank and real estate stocks. The VN30-Index inched 0.87 per cent higher to 1,456.21 points. Of the VN30 basket, 22 stocks rose while only seven declined and one stayed flat.
The banking group outperformed and supported the gains of the market with notable gainers including Vietinbank (CTG), Tien Phong Bank (TPB), VPBank (VPB), Vietcombank (VCB), Military Bank (MBB), Sacombank (STB), Eximbank (EIB) and Bank for Investment and Development of Vietnam (BID).
Real estate stocks also attracted cash flow, such as Vingroup (VIC), Novaland (NVL), Vinhomes (VHM), Thaiholdings Joint Stock Company, Development Investment Construction JSC, Khang Dien House Trading and Investment JSC, and Vincom Retail (VRE).
Towards the end of the session, the VN-Index's gain was significantly strengthened as securities stocks rose strongly, such as FPT Securities Joint Stock Company (FTS) and Ho Chi Minh City Securities Corporation (HCM), Viet Capital Incorporation (VCI), SSI Securities Incorporation (SSI), Agribank Securities Corporation (AGR) and APG Securities Joint Stock Company (APG).
“The uptrend was maintained in today's session, causing the market to return to the threshold of 1,350 points,” said BIDV Securities Co.
“Market breadth turned positive with reduced liquidity compared to the previous session. Meanwhile, foreign investors were net buyers on both HSX and HNX.
“Although the market rallied back to the threshold of 1,350 points. Liquidity is still at a low level which shows that the uptrend is not solid yet. VN-Index is likely to maintain the cumulative movement around 1,350 points in the next trading sessions."
Foreign investors net sold VND501.71 billion on HOSE, including Tien Phong Bank (TPB) with VND1.14 trillion, PetroVietnam Ca Mau Fertiliser Joint Stock Company (DCM) with VND42.1 billion, Dong Hai Joint Stock Company of Bentre (DHC) with VND41.0 billion. Foreign investors were net buyers on HNX with a value of VND12.07 trillion.
On Ha Noi Stock Exchange (HNX), the HNX-Index rose 1.55 per cent, to 366.50 points.
Nearly 145 million shares were traded on the northern exchange, worth VND3.3 trillion. — VNS