A building of MBBank in Nguyễn Du Street, Hà Nội. The bank's shares surged nearly 5 per cent on Thursday, supporting the market's uptrend. — VNS Photo Mai Hương
The market inched higher on Thursday, buoyed by the return of domestic cash flows.
The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained for the third straight day, up 6.55 points, or 0.57 per cent, to 1,150.72 points. This was the highest close since October 2.
However, the breath of the market was negative as there were more stocks declining. In particular, 172 stocks dipped while 150 ticker symbols increased.
Liquidity, on the other hand, soared to nearly VNĐ25.3 trillion (US$1 billion) from just VNĐ14.7 trillion in the previous trade.
The VN30-Index, tracking the 30 biggest stocks on HoSE, also extend the recent rallies to 1,156.37 points, a 11.52 points increase, or 1.01 per cent. Twenty-two stocks in the VN30 basket advanced while five slid and three stayed flat.
Data complied by a financial website showed that the banking industry was the main driving force for the uptrend as top five stocks dominating the rally were all in the sector.
Accordingly, Vietcombank (VCB) posted the biggest increase of 1.66 per cent, followed by Vietinbank (CTG) which were up 3.62 per cent, MBBank (MBB) soared 4.96 per cent, VPBank (VPB) jumped 1.31 per cent and Techcombank (TCB) rose 1.53 per cent.
Securities and insurance stocks, and electric and gas stocks also witnessed positive performances on Thursday. Meanwhile, steel stocks such as Hòa Phát Group (HPG), Hoa Sen Group (HSG) and Nam Kim Group (NKG) slightly retreated in a range of 0.18-0.88 per cent.
On the Hà Nội Stock Exchange (HNX), the HNX-Index closed Thursday at 232.56 points, an increase of 0.92 points, or 0.4 per cent.
During the session, nearly 113 stocks were traded on the northern bourse, worth over VNĐ2.18 trillion.
However, the market's rallies were capped by an outflow of foreign capital. Foreign investors continued to net sell VNĐ17.34 billion on HoSE but net buy VNĐ1.47 billion HNX. — VNS