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Shares advance on high demand, VN-Index nearing 1,100 points
Shares advanced on Tuesday on strong demand that bolstered large-caps stocks, pushing the benchmark VN-Index close to the 1,100-point level.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.75 per cent to end Tuesday's session at 1,099.49 points.
The index had gained 0.64 per cent to end Monday's session at 1,091.33 points.
Nearly 679 million shares were traded on the southern bourse on Tuesday, worth VND14.5 trillion (US$629.5 million).
Market breadth was positive with 275 gainers and 174 decliners.
The large-cap tracker VN30-Index was up 0.39 per cent to 1,058.39 points.
Eighteen of the 30 large-cap stocks in the VN30 basket increased while 10 declined.
“VN-Index increased gradually in the morning and reached almost 1,100 in early afternoon and held around this level until the end of the trading time,” said BIDV Securities Co.
“Foreign investors continued to be net sellers on both HoSE and HNX. Besides, market breadth was in a positive status and liquidity decreased compared to the previous session. In our opinion, VN-Index is likely to fluctuate around 1,100 in the next days,” the company said.
Foreign investors net sold VND385.02 billion on HOSE, including confectionary company Bibica Corporation (BBC) (VND479.4 billion), SSI Securities Corporation (SSI) (VND74.7 billion) and Vinh Hoan Corporation (VHC) (VND56.5 billion). They were net sellers on the HNX with a value of VND11.49 billion.
Nineteen out of 25 sector indices on the stock market gained ground, including food and beverage, retail, logistics, wholesale, real estate, IT, energy, healthcare, construction materials, insurance, banking and rubber production.
They all gained between 0.02 and 3.5 per cent.
On the opposite side, losers were securities, agriculture, seafood processing and construction.
A number of blue-chips attracted cash flow such as Vinhomes (VHM), Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID), Vincom Retail (VRE), Bao Viet Holdings (BVH), Vingroup (VIC) and Sabeco (SAB), strongly supporting the VN-Index.
Banking group witnessed differentiation with Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID) and Techcombank (TCB) all gained strongly. Meanwhile, Vietinbank (CTG), Military Bank (MBB), Asia Commercial Bank (ACB) and Sacombank (STB) declining.
On the Ha Noi Stock Exchange, the HNX-Index climbed 0.27 per cent to 197.10 points.
It had climbed 2.14 per cent to end Monday at 196.57 points.
Nearly 164.5 million shares were traded on the northern market, worth VND2 trillion.
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