VN-Index rebounds on risky asset recovery

Tuesday, Mar 01, 2022 12:12

Shares rose on Tuesday morning on strong gains of many large-cap stocks.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) edged up nearly 8 points, or 0.54 per cent, to 1,498.12 points, reversing yesterday's downtrend.

The market breadth was positive, while liquidity also increased compared to the previous trade. During the morning trade, nearly 508.1 million shares were traded on the southern market, worth over VND15.6 trillion (US$685 million).

The index's reversal was down to a strong recovery of pillar stocks as investors' risk asset demand returned. The 30 biggest stocks tracker VN30-Index posted a rise of 4.68 points, or 0.31 per cent, to 1,521.86 points.

Of the VN30 basket, 17 stocks increased, while 11 declined and two stayed unchanged.

After leading yesterday's downtrend, Vingroup (VIC) bounced back strongly and became the biggest gainer this morning, up 2.6 per cent.

Other stocks in the top five influencing the benchmark's recovery were Vietnam Rubber Group (GVR), BIDV (BID), Development Investment Construction JSC (DIG) and Vinhomes (VHM), all up in a range of 0.52 - 5.81 per cent.

Steel stocks including Hoa Phat Group (HPG), Nam Kim Group (NKG) and Hoa Sen Group (HSG) maintained their rallies.

However, selling pressure was persistent, weighing on some big stocks including Sabeco (SAB), PV Gas (GAS) and Becamex (BCM).

The HNX-Index on the Ha Noi Stock Exchange (HNX) climbed 2.37 points, or 0.54 per cent, to 442.79 points. VNS

Comments (0)