A consumer choosing Vinamilk's product from a supermarket shelf. The company shares jumped more than 3 per cent yesterday, supporting the market's uptrend. — Photo vinamilk.com.vn

HÀ NỘI — The market rose on Wednesday after two correcting sessions, while the liquidity fell sharply. 

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed the trade at 1,350.68 points, up 10.84 points, or 0.81 per cent. The index had lost nearly 13 points, or 0.9 per cent in the last two sessions due to strong selling pressure.  

The market’s breadth was positive as 307 stocks rose, while 104 stocks slid. However, the liquidity plummeted 18.8 per cent compared to the previous trade to nearly VNĐ19 trillion (US$883.4 million), equivalent to a trading volume of nearly 780 million shares. 

The index’s recovery was driven by large-cap stocks. The 30 biggest stocks tracker VN30-Index climbed 7 points, or 0.48 per cent, to 1,453.22 points. Of the VN30 basket, 18 stocks increased, while 10 stocks declined and two stocks ended flat. 

But the VN30’s liquidity only accounted for 36 per cent of the southern bourse’s trading value, the lowest since September 14, 2020, according to ndh.vn.

Vinamilk (VNM) was the leading stock on Wednesday, with a gain of 3.04 per cent. It was followed by Vietcombank (VCB), Masan Group (MSN) and Bảo Việt Holdings (BVH). All these stocks rose at least 1.5 per cent.

The rebound from real estate stocks also supported the market. The trio stocks in the Vin family, including Vingroup (VIC), Vinhomes (VHM) and Vincome Retail (VRE), as well as Novaland (NVL) posted gains in a range of 0.1 - 0.65 per cent. 

Meanwhile, bank stocks were still under profit-taking pressure, with Vietnam International Commercial Joint Stock Bank (VIB) posting the worst performance, down 1.77 per cent to VNĐ38,800 per share. 

The HNX-Index on the Hà Nội Stock Exchange (HNX) also inched higher. The index rose 4.45 points, or 1.24 per cent, to 363.43 points. 

During the session, more than 197.5 million shares were traded on the northern market, worth nearly VNĐ4 trillion. 

On the other hand, foreign investors continued to flee from the market as they net sold a total value of VNĐ244.01 billion on both two main exchanges. Of which, they net sold a value of VNĐ201.1 billion on HoSE and a value of VNĐ42.91 billion on HNX. 

The market's rebound was in line with the recovery of the global market after Evergrande, China’s leading real estate developer, said it could pay a coupon on one of its bonds, easing market jitters. — VNS