VN-Index gains for fourth day in a row

Thursday, Mar 28, 2024 17:48

Clients conduct transactions at an office of Techcombank. Shares of the lender jumped nearly 5.4 per cent on Thursday, leading the market's bullish trend. — Photo courtesy of the bank

The stock market extended rallies on Thursday, lifted by the banking and real estate industries, while liquidity soared over US$1 billion.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) inched closer to the threshold 1,300 points today. It increased 7.09 points, or 0.55 per cent, to close higher at 1,290.18 points. This marked its third gaining day.

The market's breadth was neutral, but liquidity on the southern bourse continued to improve. The trading value rose 8.3 per cent from the previous session to nearly VNĐ26 trillion (US$1 billion). More than 1 billion shares were traded during session.

The VN30-Index, tracking the 30 biggest stocks in terms of market capitalisation, also gained 14.43 points, or 1.12 per cent, to 1,303.2 points. Eighteen stocks in the VN30 basket ticked higher while seven declined and five ended flat.

On the Hà Nội Stock Exchange (HNX), the HNX-Index finished the session at 243.92 points, up 1.07 points, or 0.44 per cent. 87 million shares were traded on the northern bourse, worth more than VNĐ1.86 trillion.

According to Saigon - Hanoi Securities JSC (SHS), the market continues to consolidate the short-term accumulation base. This means that the VN-Index has formed a reliable accumulation base and is ready for a new rally.

"With the current movements, the index is likely to break the resistance level of 1,300 points in the next sessions," SHS said.

Leading the market's uptrend was the lender Techcombank (TCB). Shares of the bank surged nearly 5.4 per cent.

It was followed by Vinhomes (VHM), FPT Corporation (FPT), Sacombank (STB), Vingroup (VIC), FPT Digital Retail JSC (FRT) and Asia Commercial Joint Stock Bank (ACB). All these stocks increased in a range of 1.25-6.73 per cent.

Securities stocks also performed well, SSI Corporation (SSI) climbed 17 per cent, Ho Chi Minh Securities Corporation (HCM) gained 3.6 per cent and SHS rose 0.5 per cent.

However, VNDirect Securities Corporation (VND) fell four days in a row as the company's system has not been fixed. Its system crashed last weekend because of a cyberattack.

Its shares declined by 0.43 per cent on Thursday.

On the other hand, foreign investors extended their net selling streak. They net sold nearly VNĐ1.3 trillion on the two main bourses. Of which, they net sold VNĐ 1.32 trillion on HoSE but net bought VNĐ29 billion on HNX. — VNS

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