Stocks finish higher while foreign investors continue to flee market

March 30, 2021 - 07:29

Markets edged higher on Monday as many big stocks across all sectors made gains. Foreign investors were still net sellers.

A Vietinbank office during transaction hours. Vietinbank shares rose 2.43 per cent on Monday, contributing the most to the market's rally. — Photo

HÀ NỘI — Markets edged higher on Monday as many big stocks across all sectors made gains. Foreign investors were still net sellers.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed Monday at 1,175,68 points, up 1.16 per cent. During the session, 392 stocks rose while 83 stocks decreased.

The market liquidity was still high with local investors pouring over VNĐ14.49 trillion into the southern market, equivalent to a trading volume of nearly 660.55 million shares. 

Monday's gain was opposite to forecasts from securities firms like Bảo Việt Securities Co. 

Analysts from Bảo Việt expected that the market might face correction earlier this week before bouncing back at the end of the week. 

The 30 large-cap stock tracker VN30-Index also posted a rise of 1.1 per cent to 1,180.07 points. Twenty-nine of the 30 biggest stocks in market capitalisation in the VN30 basket rose while only one stock declined. 

Stocks in all sectors recovered from last week's volatile trend with the VN-Index losing 2.67 per cent for the week. 

Stocks from banking, real estate, construction, materials, utilities, logistics, retail and information technology sectors all posted good performance. 

Of which, top five stocks dominating the market's trend were from the bank and materials segment. These stocks included Vietinbank (CTG), up 2.43 per cent, Việt Nam Dairy Products JSC (Vinamilk, VNM), up 1.64 per cent, VPBank (VPB), up 2.53 per cent, Việt Nam Rubber Group - JSC (GVR), up 2.01 per cent, and MBBank (MBB), up 2.73 per cent.

Meanwhile, Việt Nam National Petroleum Group (Petrolimex, PLX) post the biggest loss. Followed by Kinh Bắc City Development Share Holding Corporation (KBC) and Becamex Infrastructure Development JSC (IJC).

On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 1.92 per cent to 276.16 per cent on the rise of the biggest stocks.

The HNX30-Index, tracking the 30 large-cap stocks in market capitalisation on the HNX, rose 2.58 per cent to finish Monday at 406.64 points. 

More than 178.19 million shares were traded on the northern exchange, worth nearly VNĐ2.72 trillion. 

On the other hand, foreign investors continued to flee the market. They net sold a total value of VNĐ180.15 billion, of which VNĐ153.64 billion on HoSE, VNĐ19.93 billion on HNX and VNĐ6.58 billion on UPCOM.

In the global market, shares were mixed in Asia and the EU while rising in the US.

Nikkei 225 index increased 0.71 per cent, Shanghai index rose 0.5 per cent while ASX 200 and Kospi index slid 0.16 per cent and 0.36 per cent, respectively. S&P 500 index climbed 1.66 per cent and Nasdaq index was up 1.24 per cent.

Regarding the vessel stuck in the Suez Canal, a statement from the Suez Canal Authority on Monday said that the cargo ship blocking the canal was partially freed. — VNS