Economy
Demand for large-cap stocks supports market for second day
1.
|
| A Vincom Centre shopping mall built by Vincom Retail on Phạm Ngọc Thạch Street, Hà Nội. Shares of the property developer climbed over 4.7 per cent on Tuesday, supporting the market's uptrend. — VNA/VNS Photo |
HÀ NỘI — Indices extended their rally on Tuesday as strong demand for large-cap stocks helped the benchmark index overcome intraday volatility, despite approaching the key resistance zone around 1,770 points.
The VN-Index on the Hochiminh Stock Exchange (HoSE) ended up 14.39 points, or 0.82 per cent, at 1,777.23 points.
On the Hanoi Stock Exchange (HNX), the HNX-Index rose by 7.13 points to 286.41 points.
Trading activity remained dynamic, with total trading value reaching more than 761 million shares, worth nearly VNĐ19.5 trillion (US$743 million).
Although the benchmark index posted another solid gain, liquidity remained relatively concentrated rather than broadly distributed across the market.
Market breadth was positive, with 341 stocks advancing against 310 decliners. Within the VN30 basket, market performance was evenly split, with 14 gainers, 15 losers and one unchanged stock.
Real estate remained the market's strongest-performing sector, with the industry index climbing 2.48 per cent, the biggest gain among all sectors.
Stocks within the Vingroup ecosystem continued to lead the advance. Vingroup (VIC) rose by 2.35 per cent, Vinhomes (VHM) gained 3.31 per cent and Vincom Retail (VRE) advanced by 4.76 per cent.
Together, VIC, VHM and VRE contributed more than 13 points to the VN-Index's gain. VIC alone added more than eight points, while VHM contributed over four points.
The broader property sector also rose, with Novaland (NVL) up 1.9 per cent, Phat Dat Real Estate (PDR) adding 2.54 per cent, Hoang Huy Investment Financial Services (TCH) gaining 1.23 per cent, DIG Corp (DIG) advancing 0.94 per cent and Gelex Infrastructure (GEL) increasing 6.83 per cent.
The financial sector posted a modest 0.13 per cent gain, although performance varied widely among individual stocks.
Buying interest focused on select names, including VIX Securities (VIX), which rose by 3.73 per cent, HDBank (HDB) up 2.69 per cent, MBBank (MBB) gaining 1.67 per cent, SHS Securities (SHS) adding 1.28 per cent and VPBank (VPB) increasing by 0.59 per cent.
On the downside, Sahabank (SHB) fell by 0.84 per cent, Asia Commercial Bank (ACB) slipped by 0.44 per cent and Techcombank (TCB) lost 1 per cent.
Meanwhile, Vietcombank (VCB), Techcombank (TCB) and BIDV (BID) were among the biggest drags on the index, alongside Hoa Phat Group (HPG), PV GAS (GAS) and PetroVietnam Refining and Petrochemical (BSR), which partially offset the broader market advance.
Foreign investors remained a bright spot, extending their buying streak for a second consecutive session with net purchases exceeding VNĐ875.7 billion on the two main bourses, providing additional support to overall market sentiment. — BIZHUB/VNS
