Shares recover on improved liquidity and foreign net-selling
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) was up 0.58 per cent to close at 1,008.87 points.
Shares recovered on Tuesday as market sentiment improved amid increased liquidity and foreign net selling.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) was up 0.58 per cent to close at 1,008.87 points.
The southern market index closed Monday at 1,003.08 points, down 0.71 per cent.
More than 583.3 million shares were traded on the southern exchange on Tuesday, worth VND11.7 trillion (US$505.2 million).
Market breadth was neutral with 199 decliners and 221 gainers.
“The VN-Index suddenly fell quite deeply to below the level of 990 at the beginning of the morning, but the demand gradually returned, helping the index reverse and end the session with a slight increase,” said BIDV Securities Co.
“Meanwhile, foreign investors were net buyers on both HoSE and HNX. Besides, market breadth was in balance and liquidity increased from the previous session.
“According to our assessment, the VN-Index will continue to have fluctuating sessions this week,” the company said.
Foreign investors net bought VND390.66 billion on HOSE, including FUEVFVND with VND194.3 billion, dairy firm Vinamilk (VNM) with VND97.9 billion and VPBank (VPB) with VND83.2 billion.
They were also net buyers on the HNX with a value of VND4.76 billion.
The VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, increased 1.08 per cent to end Tuesday at 976.35 points.
In the VN-30 basket, seven stocks dropped, 18 increased and five stocks ended flat.
Gainers in the large-cap group included real estate developer Vingroup (VIC), Vinamilk (VNM), VPBank (VPB), Vinhomes (VHM), while some still dropped such as Vietcombank (VCB), Becamex (BCM) and Vietnam National Petroleum Group (PLX).
As many as 18 out of 25 sectors on the stock market gained ground, including energy, banking, seafood processing, construction materials, plastics and chemical production, insurance, securities, healthcare, food and beverage and real estate.
Their indices rose between 0.14 per cent and 1.64 per cent, according to vietstock.vn.
Meanwhile, rubber production wholesale, retail and information and technology were among the decliners, dropping between 0.39 and 0.5 per cent, respectively.
On the Ha Noi Stock Exchange, the HNX-Index gained 0.83 per cent to close Tuesday at 148.93 points.
It had lost 0.31 per cent to close Monday at 147.70 points.
Nearly 86.5 million shares were traded on the exchange, worth VND1.4 trillion. — VNS
