Shares kept their upward trend on Thursday trading as cash flow continued to pour in ‘Vin’ stocks and many other large-caps.

On the Ho Chi Minh Stock Exchange, the VN-Index rose 0.66 per cent to 994.95 points.

The index lost 0.11 per cent to close at 988.41 points on Wednesday.

A total of 171.7 million shares worth VND4.5 trillion (US$192 million) were traded in the southern market.

‘Vin’ stocks were on the upswing Thursday, pulling up the market indices. Vingroup (VIC) closed the session up 1 per cent to VND123,200 per share. At this price, VIC has reached its all-time peak, surpassing its previous record on March 18 of VND121,300 per share.

Vinhomes JSC also climbed 2 per cent to close at VND87,500 per share. Vincom Retail (VRE) rose 0.4 per cent to close at VND37,500 per share.

The market also received strong push from other pillar stocks such as brewery Sabeco (SAB) and Hoa Phat Group (HPG). HPG gained 3.9 per cent to VND22,400 per share and matched 9.5 million shares on Thursday.

HPG’s revenue reached VND15.3 trillion in the second quarter, up 6 per cent compared to the same period of 2018. Profit after tax reached VND2 trillion, down 7 per cent.

Most of the sectors increased Thursday. Real estate stocks went up 1.17 per cent, thanks to the increase of Vingroup stocks and Nam Long Investment Corporation (NLG), Ha Do Group JSC (HDG) and Development Investment Construction Group (DIG).

Oil and gas stocks gained 0.68 per cent, owing to large-cap stocks PetroVietnam Gas JSC (GAS), Binh Son Refining and Petrochemical Company (BSR) and PetroVietnam Power Corporation (POW).

Bank stocks also rose 0.51 per cent, thanks to Bank for Investment and Development (BID), Sai Gon-Ha Noi Bank (SHB), Vietcombank (VCB) and Asia Commercial Bank (ACB).

Foreign investors were the net buyers for the eighth consecutive session on HoSE with more than VND38 billion.

According to Bao Viet Securities Company (BVSC), VN-Index is forecast to continually improve in several sessions. However, the market may incur strong volatility in the remaining session of the week.

The market’s current trend is rated positive with expectation of VN-Index heading toward strong 1,000-points resistance zone in the short run with the support from foreign investors’ net buying activities, BVSC said.

However, several stocks are facing increasing profit-taking pressure. The market will be continuously diverged, it said.

Bank and large-cap stocks, including Vingroup (VIC), Vinhomes (VHM), Vincom Retail (VRE), Vietjet Air (VJC) and PetroVietnam Gas JSC (GAS), will likely increase and dominate the index.

Stock exposure should be maintained at 50-60 per cent of the portfolio. Investors with high stock exposure may consider selling stocks at 995-1,000-point zone, BVSC said.

The large-cap VN30-Index was up 0.34 per cent to 890.41 points. Fourteen of the top 30 largest shares by market value and liquidity gained and 12 declined.

On the Ha Noi Stock Exchange, the HNX-Index increased 0.30 per cent to 106.76 points.

The index had fallen 0.56 per cent to 106.12 points on Wednesday. — VNS