VN-Index posts one-month high on increasing cash inflow

Monday, May 08, 2023 17:21

A woman withdraws money at an ATM of Vietcombank in Thanh Nien Street, Ha Noi. The bank's shares soared 3.56 per cent on Monday, contributing the most to the market's rally. — VNS Photo Mai Huong

The VN-Index posted the highest gain in a month with a strong influx of cash flow on Monday which drove stock prices higher.

On the Ho Chi Minh Stock Exchange, the VN-Index closed 1.26 per cent up at 1,053.44 points, the highest since April 3.

Liquidity increased in both volume and value, reaching 655.5 million shares worth VND10.8 trillion (US$458 million), up respectively 20 per cent and 16 per cent over Friday’s levels.

According to market analysts, the liquidity level though did not change substantially but maintaining the threshold of above VND10 trillion compared to the average of VND8-9 trillion two weeks ago was quite positive.

The green dominated the market from the opening minutes and spread to most industry groups. According to data on, 19 out of 25 stock groups tracked by this website gained value and six lost value.

Securities, banking, other financial services, mining and oil, agriculture, plastics, food and drink, household and utilities all achieved an average growth of more than 1 per cent.

Among the VN30 (which tracks the top 30 shares by market value and liquidity), 26 climbed, two declined and two closed flat. Nine of the top 10 stocks contributing most to the VN-Index were from this group, including Vietcombank (VCB), BIDV (BID), Vinamilk (VNM), Vietnam Rubber Group (GVR), Techcombank (TCB), PV Gas (GAS), Vinhomes (VHM), Masan Group (MSN) and Sacombank (STB).

VCB, which saw a gain of 3.6 per cent and contributed 3.8 points to the VN-Index. BID followed with a gain of 2.9 per cent contributing 1.6 points, while VNM gained 2.3 per cent and contributed 0.8 points.

On the Ha Noi Stock Exchange, the HNX-Index increased by 1.5 per cent to end the session at 210.92 points.

Liquidity also grew here with nearly 114 million shares worth VND1.4 trillion being traded, up 54 per cent in volume and 42 per cent in value compared to Friday’s figures.

Despite the market gain, analysts at Viet Dragon Securities still cautioned when the VN-Index attempted to regain the green colour and back above 1,040 points, selling force continued to put pressure on the general market's recovery.

Foreign investors remained net sellers on the HCM City’s bourse but their net sell value decreased to just VND13 billion from Friday’s level of VND176 billion. However, they remained net buyers in Ha Noi’s market with another net value of VND760 million. — VNS

Comments (0)