Shares gain on strong buying force

Friday, Jan 27, 2023 16:21

Hoa Phat Group (HPG)'s steel products. HPG rose 1.7 per cent on Friday. Photo courtesy of the firm

Shares gained on Friday as strong buying forces brought an upswing on blue chips, lifting indices.

On the Ho Chi Minh Stock Exchange, the VN-Index gained 0.81 per cent, to close at 1,117.10 points.

Liquidity declined compared to the previous session with more than 604.9 million shares worth VND11.1 trillion (US$473 million) traded in the southern market.

The market breadth was positive with gainers outnumbering losers by 275-132. Another 59 closed flat.

Blue chips led the market uptrend. Twenty-eight out of the top 30 shares by market value and liquidity on the HoSE gained value.

The VN-30 Index, tracking the 30 biggest stocks on HoSE, rose 0.78 per cent to close at 1,130.65 points.

In the VN-30 basket, the biggest gainers included property giant Vinhomes (VHM), Hoa Phat Group (HPG), Bao Viet Holdings (BVH), Masan Group (MSN), Mobile World Group (MWG), Vingroup (VIC) and Vietjet (VJC).

In the banking group, all stocks differentiated, with gainers including Military Bank (MBB), Vietcombank (VCB), Bank for Investment and Viet Nam International Commercial JS Bank (VIB) and Saigon-Hanoi Commercial JS Bank (SHB), and Tien Phong Bank (TPB). On the other side, losers were Sacombank (STB), Development of Viet Nam (BID), VietinBank (CTG) and Techcombank (TCB).

Energy stocks also performed positively with gainers such as Viet Nam National Petroleum Group (PLX), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD) and Drilling Mud Joint Stock Corporation (PVC).

According to Viet Dragon Securities Co, it is expected that the market will struggle around the resistance area of 1,100 points of VN-Index and explore supply and demand in the near future. Therefore, investors should slow down and observe the supply and demand movement at the resistance area to assess the market's state, but can exploit some short-term opportunities in stocks with a positive accumulation background.

On the Ha Noi Stock Exchange, the HNX-Index rose 0.40 per cent to close at 220.76 points.

Trading value on the northern exchange reached VND954 billion, with trading volume of 68.6 million shares. VNS

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