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Shares recover on the strong rise of blue-chips
Shares rebounded strongly on Tuesday as a series of large-cap stocks hit ceiling prices bolstered by continuous buying demand.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 3.86 to end the session at 1,075.53 points. It had lost 2 per cent to end Monday's session at 1,035.51 points.
More than 602.6 million shares were traded on the southern bourse, worth VND13.1 trillion (US$568.3 million).
Market breadth was positive with 331 gainers and 130 decliners.
“VN-Index increased gradually from the beginning of the morning to the end of the afternoon session and closed above the threshold of 1,075 points,” said BIDV Securities Co.
“On the market, investment cash flow increased again. In addition, foreign investors continued to be net buyers on the HSX but turned to net sellers on the HNX. Market breadth turned positive but liquidity decreased slightly from the previous session.
“In our opinion, the VN-Index might struggle at 1,070-1,080 next session when it is the index's short-term resistance,” the company said.
Foreign investors net bought VND104.21 billion on HOSE, including Hoa Phat Group (HPG) with VND152.7 billion, Vinamilk (VNM) with VND120.1 billion and Vinhomes (VHM) with VND97.3 billion. They were net sellers on the HNX with a value of VND7.21 billion.
The large-cap tracker VN30-Index was up 4.84 per cent to 1,079.70 points.
All 30 of the large-cap stocks in the VN30 basket increased.
A number of blue-chips hit the ceiling prices, such as Vinhomes (VHM), Vingroup (VIC), VPBank (VPB) and Thanh Thanh Cong - Bien Hoa JSC (SBT). Other pillar stocks such as Sacombank (STB), Vincom Retail (VRE), Military Bank (MBB), Vietinbank (CTG), Vietcombank (VCB), Hoa Phat Group (HPG) and Techcombank (TCB) all increased by over 5 per cent to near the ceiling price.
The banking group also performed well including Asia Commercial Bank (ACB), Military Bank (MBB), VPBank (VPB), HDBank (HDB) and Techcombank (TCB).
On the Ha Noi Stock Exchange, the HNX-Index rose 3.12 per cent to 215.36 points.
It had fallen 2.51 per cent to close Monday at 208.85 points.
More than 110 million shares were traded on the northern market, worth VND1.5 trillion.
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