VN-Index bounces back on large-cap stocks
Shares ended mixed on Tuesday, with the market benchmark reversing course on large-cap stocks as domestic and foreign investors flocked back.
Shares ended mixed on Tuesday, with the market benchmark reversing course on large-cap stocks as domestic and foreign investors flocked back.
The VN-Index edged higher yesterday, up 3.98 points, or 0.33 per cent, to 1,219.75 points. The index lost slightly in the morning trade.
However, the market breadth was still negative with 221 stocks declining while 190 rose.
The market liquidity was high as domestic investors poured in nearly VND15.5 trillion, equivalent to a trading volume of nearly 618.2 million shares.
In a daily report to customers, Bao Viet Securities Company expected that the VN-Index might recover when it falls back to test the support territory of around 1,200 points in the few next sessions.
"Rising selling pressure as long holidays are coming, as well as portfolios' restructuring of investments funds are factors affecting the remaining sessions of the week," the company added.
The recovery of the index was due to gains from large-cap stocks. The VN30-Index, tracking the 30 biggest stocks on HoSE, climbed 0.69 per cent to 1,283.81 points. Fourteen of the 30 large-cap stocks in the VN30 basket jumped while thirteen slid.
Big stocks from banking, materials and real estate sectors rebounded yesterday with real estate stocks leading the gains.
Accordingly, No Va Land Investment Group Corporation (Novaland, NVL) still posted the biggest gain in market capitalisation, up 6.21 per cent.
Followed by Hoa Phat Group (HPG), Masan Group (MSN) and Vingroup JSC (VIC), rose by 2.18 per cent, 3.16 per cent and 0.46 per cent, respectively.
Asia Commercial Bank (ACB), Sacombank (STB) and HDBank (HDB) also posted gains of more than 1 per cent.
Losses of some big stocks like Viet Nam National Petroleum Group (PLX), Vincom Retail JSC (VRE) and Vietnam Rubber Group JSC (VRG) weighed on the market. These stocks all decreased more than 1 per cent.
Meanwhile, on the Ha Noi Stock Market (HNX), the HNX-Index fell 0.04 per cent to 280.56 points with the HNX30-Index also witnessing losses of 0.03 per cent.
During the session, nearly 102.4 million shares were traded, worth over VND1.7 trillion.
Foreign investors came back strongly yesterday as they poured VND406.76 billion into HoSE. They also net bought a value of VND6.87 billion on the northern bourse. — VNS
