The securities and retail groups were the biggest gainers with growth of more than 3 per cent on average.— Photo tapchicongthuong.vn
Shares rebounded on Tuesday, propped up by growth of the banking, securities, retail and steel stocks.
On the Hồ Chí Minh Stock Exchange, the VN-Index regained more than 12 points, or 1 per cent, to close the day at 1,262.82. The southern exchange’s index had decreased by nearly 3 per cent in the last four declining sessions.
Gainers outnumbered losers by 332-137 while 71 stocks closed flat.
Twenty three out of 25 stock groups tracked by vietstock.vn gained value, 10 of which posted average gains of more than 1 per cent.
The securities and retail groups were the biggest gainers with growth of more than 3 per cent on average. Notable advancers included Saigon Securities Inc (SSI), VNDirect Securities (VND), Hồ Chí Minh Securities Corp (HCM) and Sài Gòn-Hà Nội Securities (SHS), FPT Securities (FTS), mobile phone retailer Mobile World Investment (MWG) and rising between 2.3 per cent and 5.6 per cent each.
The banking stocks, which leapt by an average 1.1 per cent but accounted for 30 per cent of the VN-Index’s weight, had positive impact on the market. Four of the top 10 biggest contributors to the VN-Index were from this group, including BIDV (BID), Vietinbank (CTG), LienVietPostBank (LPB) and Military Bank (MBB) with gains of 2.1 per cent and 3.7 per cent.
Steelmaking companies also performed well with major players such as Hòa Phát Group (HPG), Hoa Sen Group (HSG), Nam Kim Steel (NKG) all experiencing gains of 1-2 per cent each.
Liquidity continued to decline with 717.4 million shares worth VNĐ17.1 trillion (US$684 million) exchanged, down 18 per cent in volume and 16 per cent in value compared to Monday.
Despite the market rebound, analysts at Viet Dragon Securities Co (VDSC) warned that decreasing liquidity showed that cash flow support is still modest, following rising market risks.
“Investors should be cautious and re-evaluate the market situation. In the meantime, it is necessary to manage the portfolio in a way that minimises risks. They should consider rallies to take profits or reduce the proportion of stocks that are struggling in resistance zones to avoid risks,” VDSC’s analyst Phương Nguyễn wrote in a note.
On the Hà Nội Stock Exchange, the HNX-Index climbed nearly 1 per cent to end the session at 240.36 points. Liquidity also dropped here when only nearly 86 million shares worth VNĐ1.64 trillion were traded, marking a 22 per cent decrease in volume and a 29 per cent drop in value compared to the previous session. — VNS