VN-Index soars above 1,250 points

May 16, 2024 - 02:01
Liquidity also soared above VNĐ20 trillion.
Inside a warehouse of Hòa Phát Group. The company's shares led the market on Wednesday withgains of over 3.3 per cent. — Photo courtesy of Hòa Phát Group

HÀ NỘI — The market climbed strongly on Wednesday with many stocks witnessing big gains and liquidity also soaring above VNĐ20 trillion.

On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index increased 11.11 points, or 0.89 per cent, to 1,254.39 points, in a second day of rises.

The market's breadth was positive as the number of gainers surpassed that of losers by 216 to 90. Liquidity on the southern bourse rose over VNĐ22.1 trillion (US$870.5 million), equivalent to a trading volume of 880.1 million shares.

The 30 biggest stocks tracker VN30-Index climbed 12.66 points, or 0.99 per cent, to 1,289.97 points. In the VN30 basket, 26 stocks ticked up, three inched down and one ended flat.

Rallies in large-cap stocks provided support for the market's upbeat sentiment.

Data compiled by a financial website showed that Hòa Phát Group (HPG) was the biggest gainer on the market and led the market in terms of capitalisation. Shares of the steel producer rose over 3.3 per cent, contributing nearly 1.5 points to the VN-Index gain.

Other large-cap stocks that increased were FPT Corporation (FPT), Bank for Investment and Development of Vietnam (BID), Masan Group Corporation (MSN) and the Bank for Foreign Trade of Vietnam (VCB). All stocks climbed in a range of 0.44-2.76 per cent, respectively.

Meantime, Vietnam Prosperity JSC Bank (VPB), Asia Commercial Joint Stock Bank (ACB) and Dong Nai Port JSC (PDN) were the stocks with the most negative impact on the market's sentiment, but the declines were not significant.

The HNX-Index on the Hà Nội Stock Exchange (HNX) rose 1.83 points, or 0.77 per cent to 238.78 points. More than 115 million shares were traded on the northern exchange, worth more than VNĐ2.1 trillion. This is the tenth consecutive bullish trading session of the HNX-Index.

Foreign investors returned to net buy more than VNĐ147 billion on the HoSE in the Wednesday session, concentrating in Mobile World Investment Corporation (MWG), Hòa Phát Group (HPG), Novaland (NVL) and Petrovietnam Cà Mau Fertiliser JSC (DCM). — VNS