Việt Nam News

Shares rise for third consecutive session

November 17, 2023 - 09:41

Shares experienced a third consecutive session of gains on Thursday as the market displayed a positive trend right from the opening, primarily attributed to the infusion of cash flow into large-cap stocks.

An office of Vietcombank (VCB). VCB rose 0.5 per cent yesterday. — Photo courtesy of VCB

HÀ NỘI — Shares experienced a third consecutive session of gains on Thursday as the market displayed a positive trend right from the opening, primarily attributed to the infusion of cash flow into large-cap stocks.

On the Hồ Chí Minh Stock Exchange, the VN-Index rose 0.27 per cent to close at 1,125.53 points.

Market breadth was positive with 256 rising stocks and 123 losing ones.

Nearly 687.4 million shares worth VNĐ14.8 trillion (US$609 million) were traded on HCM City’s bourse.

"The market rebounded above the MA(200) area of the VN-Index and approached the resistance area around 1,130 points. The dispute continued to appear as the market rallied sharply, shown by the Star candlestick with increased liquidity and cooling movements from the resistance level," said Việt Dragon Securities Co.

"It is likely that supply will continue to put pressure on the market and it is expected that the market will temporarily fluctuate in the level of 1,110 - 1,130 points in the near future. In the next trading session, when the VN30F2311 contract expires, market movements may show unusual fluctuations."

"Therefore, investors should be cautious about the increase in supply in the coming period. Currently, it is possible to take advantage of the market's ability to rise to take profits or restructure the portfolio."

Banking stocks performed positively and bolstered the increase of the market with gainers including Techcombank (TCB), VietinBank (CTG) and Vietcombank (VCB).

The VN-30 Index, tracking the 30 biggest stocks on HoSE, gained 0.06 per cent to close at 1,132.60 points.

In the VN-30 basket, 16 stocks gained while 14 lost ground. The biggest gainers included Masan Group (MSN), Bảo Việt Holdings (BVH), FPT Corporation (FPT), Hoà Phát Group (HPG), SSI Securities Inc (SSI), and HD Bank (HDB).

Banking stocks performed positively and bolstered the increase of the market with gainers including Techcombank (TCB), VietinBank (CTG) and Vietcombank (VCB).

Energy stocks also performed positively with gainers such as PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), and Drilling Mud Joint Stock Corporation (PVC).

On the Hà Nội Stock Exchange, the HNX-Index rose 0.74 per cent to end at 229.56 points. — VNS

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