Shares bounce back after the biggest single-day loss

January 30, 2021 - 07:03
Việt Nam's stock market rose on Friday after posting the biggest single-day losses the day before as concerns raised on new community COVID-19 cases. 
A Việt Nam Dairy Products (Vinamilk) milk production line. Vinamilk share price hit the daily limit rise on Friday. — Photo

HÀ NỘI — Việt Nam's stock market rose on Friday after posting the biggest single-day loss the day before over concerns on new community COVID-19 cases. 

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index increased by 3.19 per cent to 1,056.61 points. The index lost 73.23 points, equivalent to 6.67 per cent, to end Thursday at 1,023.94 points.

Selling pressure and new community infections of COVID-19 that were reported in Hải Dương and Quảng Ninh provinces led to the steepest fall on Thursday, marking a fourth straight session loss. However, the sell-off ended on Friday as investors flocked back to the market for bottom purchases. 

Overall the market breadth was positive with 375 stocks climbing, of which 29 hit the daily limit gain of 7 per cent, while 90 stocks declined. And 35 stocks ended flat.

During the session, nearly 797.4 million shares were traded with a trading value worth VNĐ17.83 trillion. 

The VN30-Index also recovered, up 3.72 per cent to finish Friday at 1,048.31 points. Twenty-three of 30 largest-caps rose, while only five fell.

Three out of five stocks in the 30 large-cap basket lost around 7 per cent, the maximum intra-day loss. These stocks were EXIMBANK (EIB) down 6.91 per cent, FLC Faros Construction JSC (ROS) down 6.86 per cent and Saigon Beer - Alcohol - Beverage Corporation (SAB) down 6.96 per cent. EXIMBANK was the only stock in the top 30 posting a gain on Thursday. 

All sectors including banking, securities, real estate, construction, utilities, retail and production recovered today with many big stocks climbing. 

Top five stocks positively influencing the market were Vingroup JSC (VIC) up 6.88 per cent, Vinhomes JSC (VHM) up 6.98 per cent, Việt Nam Dairy Products JSC (VNM) up 6.97 per cent, Vietcombank (VCB) up 2.65 per cent and JSC Bank for Investment and Development of Việt Nam (BID) up 3.77 per cent. 

On the Hà Nội Stock Exchange, the northern benchmark HNX-Index also bounced back on Friday. The index increased by 5.5 per cent to 214.21 points. The HNX30-Index climbed 4.2 per cent to 316.35 points. 

In the trading session, domestic investors poured nearly VNĐ2.7 trillion into the northern bourse, with a trading volume of over 203.4 million shares. 

Cash inflows from foreign investors also found their way to Việt Nam's market with over VNĐ1.1 trillion pouring into the southern market and VNĐ6.62 billion on the northern bourse. VNS