A Techcombank transaction office in Hà Nội City. The bank's TCB shares rose on Thursday, contributing to the VN-Index's third consecutive positive session. — Photo techcombank.com

HÀ NỘI — The stock market maintained its upward momentum on Thursday, with VN-Index surpassing the 1,290-point threshold. However, trading liquidity slightly declined, while foreign investors resumed net selling.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 4.42 points, or 0.34 per cent, to close at 1,292.98 points. Market breadth remained positive, with 162 gainers outpacing 155 decliners. Trading liquidity dropped to approximately VNĐ16.3 trillion (US$639.2 million), with nearly 770 million shares exchanged.

Meanwhile, the VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, gained 4.81 points, or 0.36 per cent, to 1,349.45 points. Within the VN30 basket, 18 stocks advanced, while seven declined and five remained unchanged.

Large-cap stocks continued to drive the market's gains. Vinhomes JSC (VHM) led the surge with a 3.71 per cent increase, contributing nearly 1.5 points to the VN-Index.

Other key contributors included Vietnam Technological and Commercial Joint Stock Bank (TCB), which rose 1.72 per cent, and Vietnam Rubber Group - Joint Stock Company (GVR), up 2.21 per cent. Meanwhile, Vingroup Joint Stock Company (VIC) and Vietnam Joint Stock Commercial Bank For Industry and Trade (CTG) gained 1.36 per cent and 0.86 per cent, respectively.

However, losses in certain blue-chip stocks slightly capped the market’s gains. FPT Corporation (FPT) dropped 0.69 per cent, Vietnam Airlines JSC (HVN) declined 2.07 per cent and Fortune Vietnam Joint Stock Commercial Bank (LPB) fell 1.09 per cent.

Market analysts at the Việt Dragon Securities noted: “Although the market extended its gains, it exhibited fluctuations with a Star pattern. Liquidity declined compared to the previous session, indicating that while capital inflows continue to support the market, investors remain cautious as prices rise rapidly.

"Short-term profit-taking pressures may persist in the next session, leading to a period of consolidation. However, the market is expected to find support on pullbacks, with further upside potential towards the 1,300-point zone.

"Investors may consider taking short-term profits on stocks that have quickly approached resistance levels. However, they can still explore short-term opportunities in stocks showing strong momentum from key support zones."

On the Hà Nội Stock Exchange (HNX), the HNX-Index edged up 0.1 per cent to close at 238.02 points. Trading value exceeded VNĐ1.4 trillion, with over 83 million shares changing hands.

Foreign investors resumed net selling, offloading shares worth over VNĐ390 billion on the HoSE. — VNS