VN-Index hits nearly 4-month high

Friday, Jan 19, 2024 06:58

Vinhomes Golden River, an urban area project developed by Vinhomes in HCM City. The company's shares surged over 3 per cent on Thursday, leading the market's uptrend. — VNA/VNS Photo

The market rose to its highest close in nearly four months on Thursday, boosted by large-cap stocks.

The benchmark VN-Index on the Hồ Chí Mính Stock (HoSE) settled higher at 1,169.06 points, up 6.53 points, or 0.56 per cent. This was the highest close since September 22, 2023.

The breadth of the market remained positive as the number of gainers surpassed that of decliners by 189 to 114. Liquidity, however, dropped from the previous session to VNĐ13.2 trillion (US$537.6 million).

The 30 biggest stock tracker VN30-Index also increased 7.3 points, or 0.63 per cent, to 1,173.91 points. In the VN30 basket, up to 20 stocks inched higher while five went down and five finished flat.

In a recent report, VNDirect Securities Corporation highlighted that the VN-Index is likely to reach at least 1,280 points and the highest at 1,430 points this year.

The real estate and banking industries played key roles in today's rallies. In particular, Vinhomes (VHM) posted the biggest gain of 3.1 per cent and led the market's trend. Shares of the property developer dipped 1.76 per cent on Wednesday.

Other realty stocks contributing to the bullish sentiment were Nam Long Investment Corporation (NLG), up 5.24 per cent, Đất Xanh Group (DXG) increased 1.32 per cent, Vincom Retail (VRE) climbed 1.07 per cent and Phát Đạt Real Estate Development JSC (PDR) rose 1.27 per cent.

Banking stocks also witnessed a positive performance after the corrections in the last few sessions. BIDV (BID), Vietinbank (CTG), VPBank (VPB), Techcombank (TCB) and Liên Việt Post Joint Stock Commercial Bank (LPB) rose in a range of 1.03-2.96 per cent.

The HNX-Index on the Hà Nội Stock Exchange (HNX) also closed higher on Thursday. The index increased 0.43 points, or 0.19 per cent, to 229.93 points.

During the session, investors poured VNĐ953.57 billion into the northern market, equivalent to a trading volume of over 50 million shares.

Meanwhile, foreign investors still net bought on the market as they net bought VNĐ60.61 billion on HoSE, but net sold a value of VNĐ24.59 billion on HNX. — VNS

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