A branch of VPBank (VPB) in Hà Nội City. Shares of the lender led the entire market on Wednesday. — VNA/VNS Photo
Shares rallied on Thursday as the recovery of large-cap stocks helped the VN-Index regain 15.78 points, while oil and gas stocks rose sharply.
The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) finished the trading day at 1.300,19 points, up 15.78 points or 1.23 per cent.
More stocks were traded higher on the southern bourse as 220 ticker symbols increased while 105 decreased, but liquidity declined from the previous session. The trading value fell 8.4 per cent to VNĐ23.2 trillion (US$972 million), equal to a trading volume of more than 895 million shares.
The VN30-Index, which tracks the 30 biggest stocks on the HoSE, increased 23.51 points, or 1.8 per cent, to finish at 1,331.81 points. In the VN30 basket, 27 stocks ticked up while three inched down.
Rallies in large-cap stocks provided support for the market's upbeat sentiment.
Data compiled by the financial website vietstock.vn showed that Vietnam Prosperity Joint Stock Commercial Bank (VPB) was the biggest gainer on the market and led in terms of capitalisation. Shares of the lender rose over six per cent, contributing more than 2.2 points to the VN-Index.
It was followed by the Bank for Foreign Trade of Vietnam (VCB), whose shares also increased strongly on Wednesday, up 1.72 per cent, contributing more than two points to the VN-Index.
Shares of the software manufacturer FPT Corporation (FPT) rose 4.35 per cent, followed by shares ofsteel producer Hòa Phát Group (HPG), which increased 1.72 per cent.
Limiting the rallies, some big stocks still faced sell-offs, such as Saigon Beer (SAB) which posted a decline of 0.89 per cent, PetroVietnam Power Corporation (POW) down 1.06 per cent and South Logistics Joint Stock Company (STG) which lost 5.45 per cent.
On the Hà Nội Stock Exchange (HNX), the index also finished higher on Wednesday. It rose 0.77 per cent, to 248.31 points, the fourth consecutive positive trading session.
During the session, more than VNĐ1.6 trillion worth of shares were traded, equivalent to a trading volume of over 81 million shares.
Foreign investors on Wednesday afternoon also reduced their net short positions to VNĐ180 billion after a net discharge of VNĐ411.5 billion in the morning. In the trading session, this block net sold VNĐ591 trillion. — VNS