Shares rise for a third day on fresh money inflows

May 10, 2023 - 17:00
Shares rose for a third day this week, driven by fresh money inflows.
Sonadezi Châu Đức industrial park in Bà Rịa-Vũng Tàu Province. Sonadezi's shares hit the ceiling price yesterday. Photo

HÀ NỘI — Shares rose for a third day this week, driven by fresh money inflows.

On the Hồ Chí Minh Stock Exchange, the VN-Index edged up 0.43 per cent to close Wednesday at 1,058.26 points. The southern market’s index has gained 1.7 per cent this week.

Trading accelerated in the afternoon trade with the trading value reaching VNĐ5.4 trillion, up 23 per cent over the morning level. For the whole day, the matching value reached VNĐ11.2 trillion (US$475 million), up 20 per cent over Tuesday.

Small stocks took the centre stage with the number of stocks hitting the ceiling prices increasing to 24. The VNSmallcap and Midcap also grew 1.16 per cent and 1.02 per cent, respectively, which doubled increase of both the VN-Index and VN-30 Index (which tracks the top 30 shares by market value and liquidity).

The biggest gainers among the midcaps included Đất Xanh Group (DXG), Sonadezi Corp (SNZ), Quốc Cường Gia Lai Co (QCG), Đức Long Gia Lai Group (DLG), Siêu Thanh Group (ST8) and Vạn Phát Hưng Corp (VPH).

Blue chips also performed well with 18 stocks rising, eight declining and four closing flat. Some posted gains of more than 1 per cent such as Vietnam Rubber Group (GVR), Mobile World Investment (MWG), Saigon Securities Inc (SSI), Sacombank (STB) and Vincom Retail (VRE) but the majority saw only slight increase with very limited influence on the VN-Index.

The liquidity of the VN30 group accounted for 33 per cent of transactions on the floor, better than the 24.7 per cent seen in the morning session. However, in the top 10 most liquid in the market all day, the VN30 basket only had three representatives including SSI, STB and Hòa Phát Group (HPG).

On the Hà Nội Stock Exchange, the HNX-Index increased by 0.92 per cent to end at 213.89 points. The northern market’s index has grown 2.5 per cent this week.

Liquidity also increased substantially with 130.5 million shares worth VNĐ1.7 trilion being traded, up 61 per cent in volume and 37 per cent in value compared to Tuesday’s levels.

According to analysts at Viet Dragon Securities Co (VDSC), with the modest movements of large-cap groups and lingering cautiou sentiment of the demand, the market’s rally may cool down and retreated before the 1,060-point threshold for the VN-Index.

“For the time being, it’s possible to expect a short-term rally in some stocks with good technical signals, but investors should avoid overbuying status and keep the portfolio weight at a reasonable level,” said Phương Phạm, VDSC’s analyst, in a note.

Foreign investors were net sellers on both exchanges, responsible for a total net sell value of VNĐ29 billion. — VNS