VN-Index inches closer to 1,300 point-level

May, 25/2021 - 07:28
Việt Nam stock market opened Monday on positive note, heading to new historical high of 1,300 points. Meanwhile, foreign investors still flew out of market with a total net sold value of nearly VNĐ668 billion.
Vietinbank's employees talking to customers during trading hours at the bank's office. The bank shares jumped over 6 per cent in Monday's trade. Photo

HÀ NỘI — Việt Nam's stock market opened Monday on a positive note, heading to new historic high of 1,300 points. Meanwhile, foreign investors still fled the market with a total net sell value of nearly VNĐ668 billion.    

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed the trading day at 1,297.98 points, edging 14.05 points higher, or 1.09 per cent. Last week, the index gained 1.39 per cent. 

The market breadth stayed positive with 259 stocks rising while 158 stocks slid. And 46 stocks ended flat.

The liquidity surged as local investors poured nearly VNĐ23.64 trillion into the market, equivalent to over 715.5 million shares being traded. 

Bảo Việt Securities Company said that the market is expected to fall in the last session.

"The VN-Index will face strong fluctuations when it approaches the resistance territory of around 1,285 points," the securities firm added. 

According to the company, the market and stock groups will not receive much supportive information during this period. Therefore, the market continues to see strong divisions between stocks' lines, as well as some large-cap stocks. 

The market was supported by pillar stocks, especially stocks in banking, material and real estate sectors. 

The VN30-Index, tracking 30 biggest stocks on HoSE, posted a gain of 0.38 per cent to 1,430.48 points. Twenty-three of 30 stocks in the VN30 basket jumped, while only seven stocks fell.

Vietinbank (CTG) was still the leader of the market's rally, up 6.11 per cent. Other stocks like Vietnam Rubber Group (GVR), Vinhomes JSC (VHM), JSC Bank For Investment and Development of Vietnam (BID) and Vietnam Dairy Products JSC (Vinamilk, VNM) also witnessed outstanding performance with these stocks up in the range of 2 - 7 per cent. 

On the Hà Nội Stock Exchange (HNX), the HNX-Index climbed 0.79 per cent to 300.33 points. The index was also boosted by large-cap stocks as the HNX30-Index increased 1.44 per cent to 453.52 points. 

During the trading session, over 110.87 million shares were traded on the northern bourse, worth VNĐ2.54 trillion.

Despite the market remaining bullish, foreign investors kept fleeing as they net sold a total value of nearly VNĐ668 billion.

Of which, they net sold a value of VNĐ645.3 billion on HoSE, a value of VNĐ3.86 billion on HNX and a value of VNĐ18.82 billion on UPCOM. VNS