Robots developed by VinRobotics, a unit under Vingroup, displayed at an exhibition in Germany in June. Shares of the conglomerate climbed over 2.6 per cent on Thursday, leading the market's rallies. — VNA/VNS Photo

HÀ NỘI — The market benchmark VN-Index extended its winning streak to a sixth consecutive session on Thursday, closing above 1,830 points, although trading liquidity fell sharply as investors turned more cautious ahead of the National Day holiday.

On the Hochiminh Stock Exchange (HoSE), the VN-Index gained 10.24 points to 1,831.56 points.

The VN30-Index, which tracks the 30 largest stocks by market capitalisation and liquidity on the HoSE, rose 9.22 points to 1,979.23 points.

The HNX-Index on the Hanoi Stock Exchange (HNX) edged up 0.68 points to 282.64 points.

Despite gains in the major indices, market liquidity weakened considerably as the National Day holiday approached. Total trading value across the market reached over VNĐ16.5 trillion (US$633 million).

However, market breadth was negative, as 166 rose while 241 declined. 

Large-cap stocks remained the main driver of the benchmark's advance, with Vingroup (VIC) making by far the biggest contribution.

The stock gained 2.61 per cent and contributed nearly 10 points to the VN-Index, meaning that much of the index's gain came from a single heavyweight.

Other positive contributors included VPBank (VPB), which added 1.09 points to the index, followed by Techcombank (TCB) with 0.97 points, Vinpearl (VPL) with 0.92 points, Asia Commercial Joint Stock Bank (ACB) with 0.43 points and Vinhomes (VHM) with 0.34 points.

On the downside, Techcom Securities (TCX) shaved about 0.53 points off the VN-Index and Sacombank (STB) reduced it by 0.42 points. Vietnam Rubber Group (GVR), Vietcombank (VCB) and Petrovietnam Refining and Petrochemical Corporation (BSR) were also among the stocks weighing on the benchmark.

While overall trading activity declined, foreign investors provided some support to the market. Foreign investors purchased a net value of VNĐ209.9 billion on HoSE. 

From a technical perspective, the benchmark has moved above a short-term resistance area formed by a declining trendline and is now trading above its exponential moving averages (EMAs). Holding above the psychological 1,800-point threshold while extending its winning streak to six sessions has strengthened the short-term upward trend.

However, the 1,825-1,830 point area remains an important technical zone. Although the VN-Index closed above 1,830 points, the breakout would require further confirmation from market breadth and trading liquidity.

Vietcombank Securities (VCBS) said active buying continued to support the market, but capital flows had yet to spread broadly across listed stocks and remained concentrated in several major sectors.

The securities firm recommended that investors continue holding stocks with strong upward momentum and solid fundamentals.

For short-term investors, VCBS said periods of market volatility could provide opportunities for selective accumulation, particularly in stocks attracting capital flows and belonging to market-leading sectors. — BIZHUB/VNS