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Market extends gains for third straight day
However, foreign investors continued to net sold a large amount of over VNĐ480 billion (US$19 million) on the two main exchanges.
Inside the headquarters of FPT Corporation. Shares of the company soared over 1.7 per cent on Friday, supporting the market's recent recovery. — VNS Photo Ly Ly Cao
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Benchmark indices finished the week higher, boosted by bottom fishing demand. However, foreign investors continued to net sell a large amount of over VNĐ480 billion (US$19 million) on the two main exchanges.
The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) increased by 6.75 points, or 0.54 per cent, to close Friday at 1,249.11 points. This marked its third straight session of gains.
The market's breadth was positive with the number of gainers surpassing that of decliners by 202 to 98. Liquidity stayed low and declined by 22.6 per cent from the previous session to nearly VNĐ10.3 trillion, equivalent to a trading volume of 433 million shares.
The VN30-Index, tracking the 30 biggest stocks in term of market capitalisation on HoSE, also inched higher, up 10.23 points, or 0.78 per cent, to 1,313.48 points. Twenty ticker symbols in the VN30 basket ticked up, while seven went down and two ended flat.
Market dynamics showed a more optimistic trend in the afternoon's session, as green gradually dominated the electronic board.
Nevertheless, the buying force remained subdued, resulting in limited notable changes in Friday's session, while low liquidity indicated a hesitancy in investor sentiment.
Banking stocks led the market's trend, with Techcombank (TCB) posting the biggest gain in market capitalisation, with shares of the lender up over 2.3 per cent, contributing nearly 1 points of the VN-Index's gaining points.
It was followed by FPT Corporation (FPT), HDBank (HDB), Vietinbank (CTG) and Fortune Vietnam Joint Stock Commercial Bank (LPB). Those stocks rising between 1-3.7 per cent.
FPT's remarkable performance sparked a wave of positive trading among technology stocks. Notably, ELCOM Cororation (ELC) surged to its price ceiling, while Joint Stock Company For Telecom & Informatics (ICT) saw a 5.8 per cent increase and CMC Corporation (CMG) rose by 2.9 per cent.
On the Hà Nội Stock Exchange (HNX), the HNX-Index also settled higher at 222.48 points, up 1.64 points, or 0.74 per cent.
During the session, 49.3 million shares were traded on the northern bourse, worth more than VNĐ753.06 billion.
Meanwhile, foreign capital continued to see a strong outflow on both main exchanges. Of which, foreign investors net sold VNĐ481.63 billion on the two bourse, with over VNĐ474 billion withdrawn from the HoSE.
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