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The market returns to an upward trend as foreign investors engage in heavy net selling
The stock market returned to an upward trend on Tuesday, with improved liquidity, despite heavy net selling by foreign investors.
At the BIDV building in Hà Nội City. The bank's BID shares led the market on Tuesday. — Photo courtesy of BIDV
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On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index rose by 8.51 points, or 0.67 per cent, to close at 1,276.99 points, marking a robust recovery after the previous session’s decline.
Throughout most of the day, the VN-Index traded above the reference level, maintaining a stable range and ending the session on a positive note.
Market breadth was positive, with 203 stocks advancing and 94 declining. Liquidity on the southern bourse improved significantly, reaching VNĐ17.9 trillion (nearly US$723.58 million), up 38.7 per cent compared to Monday's session.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation, climbed by 9.75 points, or 0.74 per cent, to 1,330.87 points. Twenty-five stocks in the VN30 basket rose, three declined and two remained unchanged.
Data compiled by financial website vietstock.vn showed that the Bank for Investment and Development of Vietnam (BID) was the biggest gainer, increasing by 1.13 per cent and contributing nearly 0.77 points to the VN-Index.
Following closely were Vinhomes JSC (VHM), which rose by 1.37 per cent, Vietnam Rubber Group - Joint Stock Company (GVR) by 1.69 per cent, Military Commercial Joint Stock Bank (MBB) by 1.81 per cent, and Sai Gon Thuong Tin Commercial Joint Stock Bank (STB) by 3.41 per cent.
However, some stocks saw mild selling pressure, with Viet Nam Dairy Products Joint Stock Company (VNM) leading the declines, falling by 0.28 per cent.
According to analysts from Việt Dragon Securities, the increased liquidity compared to the previous session indicates a rise in supply as the market approached a resistance zone. The 20-day moving average (MA20) around 1,270 points is currently providing support. The market is expected to find support in this region and recover, continuing its test of the 1,280–1,290 resistance zone.
Therefore, investors can remain hopeful for continued support and recovery, though caution should be exercised in restructuring portfolios to minimise risk.
On the Hà Nội Stock Exchange (HNX), the HNX-Index also closed higher, gaining 0.4 per cent to reach 234.32 points.
During the session, more than VNĐ1.1 trillion worth of shares were traded, with a trading volume exceeding 60.6 million shares.
Foreign investors engaged in heavy net selling on Tuesday, recording net sales of VNĐ2.5 trillion on the southern bourse.
Bizhub
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