The office of VNDirect Securities Co (VND). VND soared 6.7 per cent Monday. — Photo courtesy of the company
Shares had a good start on Monday thanks to the sharp rises of large-caps and in the securities and real estate group, supporting the overall market.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0.38 per cent to close at 1,236.84 points.
The market's breadth turned positive with 159 stocks declining, while 315 rose.
Liquidity rose to a new high with 1.1 billion shares traded on the southern bourse, worth VNĐ23.5 trillion (US$987 million).
The 30 biggest stocks tracking VN30-Index gained 0.21 per cent to 1,243.43 points. Seventeen in the VN30 basket increased, while 11 declined and two ended unchanged.
Securities stocks soared at the end of the session with gainers including 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 as a series of large-cap stocks soared such as Kinh Bắc City Development Holding Corporation (KBC), Hà Đô Group JSC (HDG), Nam Long Group (NLG), Hòa Bình Construction Group Joint Stock Company (HBC) and Viglacera Corporation - JSC (VGC), LDG Investment JSC (LDG), Tân Tạo Investment and Industry Corporation (ITA), Hoàng Quân Consulting-Trading-Service Real Estate Corporation (HQC), Thủ Đức Housing Development Corporation (TDH), Vạn Phát Hưng Corporation (VPH), Licogi 16 Joint Stock Company (LCG) and FECON CORPORATION (FCN).
“It shows that the money flow is moving back to support the market. With the current signal, it is likely that the market will continue to be supported and has a chance to gradually recover to the zone of 1,240 – 1,245 points,” said Việt Dragon Securities Co.
“Temporarily, this recovery will be a re-test of supply at the resistance zone. Therefore, investors need to observe and evaluate the support efforts of cash flow in the future. Temporarily they can hold stocks that are showing good signals from cash flow. However, it is necessary to consider the possibility of recovery to take profits or reduce the proportion in stocks that are experiencing weakness to minimise risks for the portfolio.”
Meanwhile, the HNX-Index on the Hà Nội Stock Exchange (HNX) gained 2.12 per cent, to close Monday at 250.44 points.
During the trading session, investors poured VNĐ2.3 trillion into the northern market, equivalent to a trading volume of 132.8 million shares. — VNS