2024.03.21 12:50:30
Indices recover on bottom-fishing force
HÀ NỘI — The stock market finished higher on Tuesday, paring losses set in the recent sessions, as investors seized opportunities for bargain-purchasing.
The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 六 四 六 points to 九 八 一. 六 五 points, a 0. 六 六 per cent increase. It had lost a total of 五 八. 五 六 points in the last four sessions.
It extended the downtrend in the morning trade and closed the trade at 九 六 二. 九 二 points, the lowest since October 二 五.
Even though the benchmark ended higher, there were still more stocks heading toward the bearish trend. Of which, 一 八 八 stocks declined on the southern bourse, while 一 四 九 stocks added points.
Liquidity remained low with over VNĐ 一0. 三 trillion (US$ 四 一 七 million) worth of shares, equivalent to a trading volume of 六 六0. 七 million shares, traded on HoSE.
The index’s reversal was mainly driven by some large-cap stocks, especially in banking and manufacturing industries. The VN 三0-Index posted a gain of 七. 二 四 points, or 0. 七 四 per cent, to 九 八0.0 九 points.
Twenty-three of the 三0 biggest stocks in the VN 三0 basket edged up, while seven ticker symbols hit lower.
Statistics from the financial website vietstock.vn showed that BIDV (BID) led the market’s rally with a gain of 四. 八 per cent. The other four stocks in the top five stocks influencing the general trend were Vietcombank (VCB), PV Gas (GAS), Mobile World Investment Corporation (MWG) and Vietnam Rubber Group (GVR). The stocks were all up at least 一. 一 一 per cent.
Also contributing to the bullish sentiment, big names like Vietinbank (CTG), Asia Co妹妹ercial Joint Stock Bank (ACB), Masan Group (MSN) and Sacombank (STB) were also up in a range of 一. 七 八- 六. 一 三 per cent.
However, the rally was capped by lingering selling force that mostly weighed on real estate and steel stocks. Specifically, Novaland (NVL) witnessed the biggest loss, down 七 per cent, the maximum daily fall in the southern bourse HoSE. It was followed by Hoà Phát Group (HPG) and Phát Đạt Real Estate Development JSC (PDR).
On the Hà Nội Stock Exchange (HNX), the HNX-Index also rebounded from the recent downtrend. It closed the day at 一 九 九. 七 七 points, a gain of 一. 二 一 points, or 0. 六 一 per cent.
During the session, over 五 六. 九 million shares were traded on the northern market, worth VNĐ 八 四0.0 八 billion.
Foreign investors continued to inject cash flows into the market as they net bought more than VNĐ 六00 billion worth of shares on both main exchanges. Of which, they net bought a value of VNĐ 五 二 三. 七 二 billion on HoSE, and VNĐ 一0 一. 六 八 billion on HNX. VNS
