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VN-Index recovers as large-caps gain ground
The VN-Index rebounded on Tuesday morning thanks to the support of blue-chips.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.14 per cent to end the morning session at 997.90 points.
Nearly 136 million shares were traded on the southern bourse, worth VND1.8 trillion (US$77 million).
The index inched down 0.01 per cent to end at 996.48 points on Monday.
Shares traded quite cautiously despite positive movements from US stocks during overnight trading.
The Dow Jones Industrial Average .DJI rose 132.25 points, or 0.49%, to 27,090.31, the S&P 500 .SPX gained 16.79 points, or 0.56%, to 3,039.34 and the Nasdaq Composite .IXIC added 82.87 points, or 1.01%, to 8,325.99.
The VN-Index has failed to conquer the 1,000 point level many times before, which affects the psychology of investors significantly.
Bluechips like Phu Nhuan Jewellery (PNJ), Vietjet Air (VJC) and PetroVietnam Gas JSC (GAS) and the bank stocks of Military Bank (MBB), Vietcombank (VCB), VPBank (VPB), Techcombank (TCB) and HDBank (HDB) all dropped, curbing the market's gaining momentum.
Other pillars like Bao Viet Holdings (BVH), FPT Corporation (FPT), Hoa Phat Group (HPG), Refrigeration Electrical Engineering Corporation (REE), Vinamilk (VNM), Sabeco (SAB), Vinhomes (VHM), Mobile World Group (MWG) and Vincom Retail (VRE) gained groud, supporting indexes.
On a sector basis, securities, real estate, construction, oil and gas moved sideways, reflecting the cautious psychology of investors at this time.
On the Ha Noi Stock Exchange, the HNX-Index lost 0.16 per cent to close at 104.87 points.
The northern index rose 0.31 per cent to close at 105.04 points on Monday.
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