Market ends week on a positive note

September 29, 2023 - 17:22
Foreign investors continued to net sell on the southern exchange.
The welcome gate of Times City urban complex, which is invested by Vingroup in Hà Nội. Shares of the property developer soared more than 4 per cent on Friday, helping lift the market's bullish trend. — Photo

HÀ NỘI — The market ended higher in the last trading session of the week, but foreign investors continued to net sell on the southern exchange.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index reversed Thursday's session to close at 1,154.15 points, up 1.72 points, or 0.15 per cent.

The breadth of the market was in positive territory as 186 stocks increased while 132 inched lower.

Liquidity, however, fell from the previous session. Of which, the trading value declined by 11.65 per cent to more than VNĐ13.96 trillion (US$574.5 million), equivalent to a trading volume of 574.8 million shares.

In a recent report, MB Securities Company stated that the VN-Index's bearish trend is likely to stall and form a balance area at 1,120-1,140 points, which are strong supportive levels.

The securities firm also lowered its forecast for the VN-Index in the final months of the year to 1,260-1,280 points, from the previous forecast of 1,280-1,340 points.

The VN30-Index, tracking the 30 biggest stocks on HoSE, also climbed by 1.81 points, or 0.16 per cent, to 1,166.26 points. In the VN30 basket, ten ticker symbols inched up, while 14 slid and six remained unchanged.

Statistics from the financial website showed that the real estate industry led the market on Friday. In particular, Vingroup (VIC) was the biggest gainer with an increase of 4.11 per cent.

It was followed by Vinhomes (VHM), VPBank (VPB), Becamex (BCM), and Vincom Retail (VRE). All the stocks were up in a range of 2.25-3.42 points.

However, gains were limited by significant losses in some banking and manufacturing stocks. Vietinbank (CTG) led the downward trend after posting a decline of nearly 2.6 per cent.

The HNX-Index on the Hà Nội Stock Exchange (HNX) also rose on Friday. It was up 1.85 points, or 0.79 per cent, to 236.35 points.

During the session, nearly 98.3 million shares were traded on the northern bourse, worth more than VNĐ1.7 trillion.

The market still saw an outflow of foreign capital as foreign investors net sold nearly VNĐ406.4 billion on the two main exchanges. They broke the streak of three consecutive days of net buying on Thursday. — VNS