VN-Index gains nearly 17 points on stronger liquidity
The market also received support from the inflow of foreign capital.
Strong liquidity lifted the Vietnamese stock market on Thursday, with the benchmark VN-Index bouncing nearly 17 points. Foreign capital inflow also supported the sentiment.
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index reversed Wednesday's course to trade higher at 1,189.39 points, a gain of 16.83 points, or 1.44 per cent. It had lost nearly 8 points in the previous session.
289 stocks on the southern bourse ticked up, while only 49 finished lower.
Liquidity also improved as more than 851.5 million shares were traded on HoSE, worth nearly VNĐ18.5 trillion (US$770.5 million). The trading volume and value, thus, rose 14 per cent and 7.6 per cent, respectively, compared to the previous session.
The 30 biggest stocks tracker, VN30-Index, climbed more than 18.9 points, or 1.6 per cent, to 1,201.88 points. In the VN30 basket, 26 stocks advanced, while three went down and one stayed flat.
Analysts from the Saigon - Hanoi Stock Exchange (SHS) said that the market is likely to continue to fluctuate and recover in the short-term to form a new accumulation area after failing to breach the 1,250 point-level.
"We expect the market will soon find a balance area before there are more positive developments in the near future," the securities said.
"The mid-term uptrend of VN-Index is still maintained as the benchmark index is still above 1,125 - 1,150 points. And there is a possibility that the market can accumulate again to create a new foundation to prepare for the next rally."
Stocks across all sector posted big gain yesterday, with FPT Corporation (FPT) leading the bullish trend. Shares of the technology firm soared 5.26 per cent.
It was followed by pillar stocks, including Vinhomes (VHM), Vietcombank (VCB), Hòa Phát Group (HPG), Masan Group (MSN), and Vinamilk (VNM), up in a range of 0.8-3.23 per cent.
Meanwhile, Vingroup (VIC) reported the biggest loss of more than 1.2 per cent after joining the top three performers on Wednesday's session.
On the Hà Nội Stock Exchange (HNX), the HNX-Index also recouped from Wednesday's loss. It gained 5.16 points, or 2.17 per cent, to 243.23 points.
Investors poured more than VNĐ2.2 trillion into the northern market, equal to a trading volume of nearly 119 million shares.
The market also received support from the inflow of foreign capital. Foreign investors returned to the southern bourse with a net buying value of VNĐ232.8 bilion. However, they net sold over VNĐ21 billion on HNX. — VNS
