VN-Index rises for sixth day in a row

March 29, 2023 - 06:57
The market's benchmark continued its gaining streak despite rising selling pressure.
Logo of Techcombank on its headquarters in Lý Thường Kiệt Street, Hà Nội. The bank shares surged nearly 4 per cent on Tuesday, helped lift the market sentiment. VNS Photo Ly Ly Cao

HÀ NỘI — The Vietnamese stock market diverged on Tuesday, but the VN-Index extended its rising streak to the sixth straight day.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index increased 2.04 points to end the trading day at 1,054.29 points, or up 0.19 per cent.

The breadth of the market remained in positive territory with 166 stocks on HoSE inching higher, while 158 stocks went down.

Liquidity continued to rise over the previous session. Specifically, the trading value on the southern exchange advanced by 15.4 per cent to more than VNĐ11.2 trillion (US$477 million), equivalent to a trading volume of 648.1 million shares.

The VN30-Index, tracking the 30 biggest stocks on HoSE, edged up 2.37 points, or 0.22 per cent, to 1,058.82 points. In the VN30 basket, 12 stocks added points, while 13 slid and five ended flat.

The market's benchmark's rally trend was boosted by pillar stocks, led by Techcombank (TCB) with a gain of nearly 4 per cent.

Also supporting the trend, Vietcombank (VCB), PV Gas (GAS), Mobile World Investment Corporation (MWG) and Masan Group (MSN) performed well, up in a range of 0.88-2.62 per cent.

In addition, the market sentiment improved as the State Bank of Vietnam began collecting feedback from organisations and individuals on the draft circular amending and supplementing a number of articles and suspending the circular on credit institutions' purchase and sale of corporate bonds.

The index pared gains as many pillar stocks, including Vinhomes (VHM), VPBank (VPB) and Hòa Phát Group (HPG), faced sell-offs.

In contrast, on the Hà Nội Stock Exchange (HNX), the HNX-Index dropped by 0.91 points, or 0.44 per cent, to 205.76 points.

During the session, 78.2 million shares were traded on the northern bourse, worth more than VNĐ1.1 trillion.

Meanwhile, foreign investors continued to flock into the market as they net bought nearly VNĐ140 billion on both main exchanges. Of which, they net bought VNĐ130.77 billion on HoSE and VNĐ9.07 billion on HNX. — VNS