VN-Index rebounds on bank stocks

Friday, Feb 18, 2022 12:37

Indices were mixed on Thursday morning, with the market benchmark VN-Index recovering from yesterday's losses.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) inched up 1.89 points, or 0.13 per cent, to 1,493.99 points.

Market breadth was still negative, while liquidity declined compared to the previous session. Investors poured VND11.1 trillion (US$488.3 million) into the southern bourse, equivalent to a trading volume of over 370.7 million shares.

Foreign investors continued to net buy a value of around VND196 billion on the HoSE.

The benchmark's recovery was mainly driven by gains in large-cap stocks, especially bank stocks. The VN30-Index, tracking 30 biggest stocks on HoSE, jumped 1.49 points, or 0.1 per cent, to 1,522.96 points.

Of the VN30 basket, 19 stocks increased while 11 slid.

Vietcombank (VCB) was the biggest gainer, up 0.46 per cent, followed by Vietnam International Commercial Joint Stock Bank (VIB), Masan Group (MSN) and BIDV (BID), which were all were up in a range of 0.55 - 1.86 per cent.

However, gains were capped by losses of some pillar stocks, mostly in real estate sectors.

Vingroup (VIC) posted the biggest loss, down 0.97 per cent. The other two stocks of the Vin-family, Vinhomes (VHM) and Vincom Retail (VRE), also reported poor performance.

Novaland (NVL) and Becamex (BCM) were also down at least 1 per cent.

Meanwhile, on the Ha Noi Stock Exchange (HNX), the HNX-Index fell 0.54 points, or 0.13 per cent, to 428.58 points. VNS

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