|A PetroVietnam Gas worker operating equipment. The company shares gained 1.2 per cent Tuesday. — Photo pvgas.com.vn|
HÀ NỘI Vietnamese markets ended Tuesday mixed as the injection of cash flow supported the market and outweighed the sell-off pressure as VN-Index moved higher.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 0.96 per cent, to close the day at 1,108.31 points.
The breadth of the market was in positive territory, with 262 stocks up while 121 traded lower.
During the session, investors poured over VNĐ15.6 trillion (US$664 million) into the southern market, equivalent to a trading volume of nearly 842.8 million shares.
The 30 biggest stocks tracker VN30-Index also closed higher at 1,102.32 points, up 1.03 per cent. Twenty-four ticker symbols of the VN30 basket climbed, while six went down.
The VN-30 group performed positively and bolstered the market.
In the basket, banking stocks gained slightly, with gainers being Military Bank (MBB), Techcombank (TCB), Saigon-Hanoi Commercial JS Bank (SHB), Vietcombank (VCB), VietinBank (CTG) and BIDV (BID).
However, Tiên Phong Bank (TPB) and Vietinbank (CTG) were still hit by selling force, down 1.1 per cent and 0.2 per cent, respectively.
Oil and gas group performed positively thanks to the injection of cash flow, such as PetroVietnam Gas JSC (GAS), PetroVietnam Technical Services Corporation (PVS), the PetroVietnam Drilling & Well Service Corporation (PVD) and Binh Son Refinery and Petrochemical Joint Stock Company (BSR).
The Vin family trio of stocks - Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE) - also grew 2.1 per cent, 2.4 per cent and 0.9 per cent, respectively.
The market continued to gain after rebounding from the resistance area of 1,080 points of the VN-Index since the end of last week. But the 1,100-point area can put pressure on the market, said Việt Dragon Securities Co.
“Profit-taking supply appeared in this area and hindered the market's uptrend. However, the market's decline is not large, showing that there has been no sell-off at this resistance area.”
“The downward pressure may continue when entering the next session, but it is expected that the market will be supported and recover again to continue the process of testing the supply at the level of 1,100 points,” it said.
“Therefore, investors can hold or exploit short-term opportunities in stocks with good technical signals and attracting cash flow. However, it is necessary to consider taking profits in stocks that have increased rapidly to the resistance zone or are under selling pressure from the resistance zone to realise the results.
On the Hà Nội Stock Exchange (HNX), the HNX-Index closed the trading day at 228.72 points, down 0.95 per cent. — VNS