The Landmark 81 building, a project of Vingroup, in HCM City. Shares of the company jumped over 1.3 per cent on Friday, leading the VN-Index's recovery. — VNA/VNS Photo

HÀ NỘI — The stock market was mixed on Friday with clear sector-level differentiation, as trading flows remained selective and concentrated largely in large-cap stocks. 

On the Hochiminh Stock Exchange (HoSE), the VN-Index gained 0.47 per cent to 1,371.91 points. 

The market breadth leaned toward decliners with 296 stocks up and 389 down, while liquidity remained at a lower level of over VNĐ16 trillion (US$608 million).

Meanwhile, the HNX-Index on the Hanoi Stock Exchange (HNX) declined 1.61 points to 317.83 points.

In HCM City, the Vin trio stocks, once again, played the leading role in supporting the benchmark index. 

Vingroup (VIC) rose 1.33 per cent, Vinhomes (VHM) jumped 3.51 per cent and Vincom Retail (VRE) climbed 1.35 per cent. Of which, VIC and VHM contributed over 9.9 points to the benchmark index.

Several other blue chips also helped consolidate the bullish tone, including Vietcombank (VCB), SeABank (SSB), Sacombank (STB), Mobile World Investment Corporation (MWG), Vinpearl (VPL) and VPS Securities (VPS).

These stocks gained in a range of 1-7 per cent. Collectively, this group added around 12.7 points to the VN-Index.

However, rallies were capped as selling pressure emerged in a number of large-cap tickers.

One of the most notable moves of the session was LPBank (LPB)'s strong correction. After a run of nine consecutive rising sessions and a newly established historical peak in the previous session, LPB fell 5.36 per cent, erasing 1.8 points from the index. 

Also providing support to the market, foreign investors returned to net buying, with a net purchase of roughly VNĐ330 billion on HoSE.

In the short term, Saigon - Hanoi Securities (SHS) said the VN-Index's trend is accumulation under a strong resistance zone of 1,900–1,930 points, an area where the market previously faced heavy correction pressure in January, February and May.

SHS added that a growth driver with clear outperformance would be needed for the market to break above that resistance band.

At the moment, SHS said there is no forecast that the VN-Index can surpass it, adding that the index may instead face pressure toward the nearest support area around 1,850 points before consolidating within a narrow range of 1,850–1,900 points.

The securities firm emphasised that the current environment is not considered an attractive valuation zone for the market. — BIZHUB/VNS