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Market ends first trading week of December with modest gains
The stock market concluded the first trading week of December with a modest gain on Friday, as the VN-Index successfully breached the 1,270-point threshold, while foreign investors extended their net buying streak.
The Đức Giang Chemical Plant. Shares of Đức Giang Chemical Group (DGC) rose on Friday, contributing to the VN-Index reaching the 1,270-point milestone. — Photo baotintuc.vn
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On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index edged up by 2.61 points, or 0.21 per cent, to close at 1,270.14 points.
Market breadth remained negative, with 167 declining stocks outweighing 146 gainers. Liquidity on the southern bourse declined slightly to VNĐ17.6 trillion (approximately US$693.2 million), with a trading volume of 694.8 million shares.
The VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, slipped marginally by 0.27 points, or 0.02 per cent, to 1,337.28. Of the VN30 basket, 13 stocks advanced, while 17 declined.
According to financial data provider vietstock.vn, the Vingroup Joint Stock Company (VIC) was the session’s strongest performer, contributing significantly to the VN-Index’s capitalisation. VIC shares gained 2.45 per cent, adding over 0.9 points to the benchmark index.
The Bank for Investment and Development of Vietnam (BID) followed with a rise of 1.3 per cent, while the Vietnam Rubber Group - Joint Stock Company (GVR) climbed 2.23 per cent. Đức Giang Chemicals Group JSC (DGC) posted a notable 4.73 per cent increase, and FPT Corporation (FPT) advanced 0.67 per cent.
However, declines in several large-cap stocks limited the VN-Index’s gains. Hòa Phát Group JSC (HPG) dipped 0.9 per cent, Vietnam Prosperity Joint Stock Commercial Bank (VPB) fell 0.77 per cent and Military Commercial Joint Stock Bank (MBB) dropped 0.81 per cent.
Analysts from Việt Dragon Securities said: “The market continues to exhibit resilience with modest gains, though trading remains cautious. Liquidity has decreased compared to the previous session, indicating limited supply but also a restrained inflow of new money as the market edges upward.
“The VN-Index remains balanced above the 1,270-point mark and further gains are expected. However, investors should be mindful of heightened selling pressure around the key resistance level of 1,300 points.
“Investors can anticipate further upward momentum after the holiday but should avoid chasing stocks that have already risen significantly. Consider taking profits at favourable price levels for short-term gains.”
On the Hà Nội Stock Exchange (HNX), the HNX-Index fell slightly by 0.29 per cent, closing at 228.93 points.
The northern bourse recorded a trading value exceeding VNĐ1.2 trillion, with trading volume surpassing 64 million shares.
Foreign investors continued their net buying trend, with net purchases exceeding VNĐ357 billion on the HoSE.
Bizhub
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