VN-Index rises for seven straight days

A woman withdraws cash from a machine of BIDV in Hà Nội. The bank’s shares climbed nearly 4.3 per cent on Monday, lifting the market’s sentiment. — VNS Photo Ly Ly Cao

HÀ NỘI — The Vietnamese stock market increased on Monday in line with the short-term uptrend, while foreign investors continued the net selling.

The VN-Index on the Hồ Chí Minh Stock Exchange closed higher at 1,160.19 points, up 5.51 points, or 0.48 per cent. This marked the seventh straight session of gains.

The breadth of the market was positive as the number of gainers surpassed that of decliners by 171 by 148. Liquidity gained from the previous session to reach nearly VNĐ20 trillion. In particular, the trading value rose by 17.8 per cent to VNĐ19.2 trillion (US$788.7 million).

The VN30-Index, which tracks the 30 biggest stocks on HoSE, also increased 2.38 per cent, or 0.2 per cent, to 1,163.52 points. In the VN30 basket, 16 stocks advanced while 13 ended lower and one stayed flat.

Extending the recovery momentum from the last two weeks of 2023, the index closed higher on the first trading day of the New Year, thereby opening a series of gaining sessions throughout the week.

MBS Research said that the market can continue to maintain the momentum this week, but the two important thresholds that investors should pay attention to are the level of 1,165 points and the short-term target area of 1,188 points.

Banking stocks continued to lead the market’s trend, of which, BIDV (BID) was the biggest gainer. Shares of the lender soared 4.27 per cent.

It was followed by Vietcombank (VCB), Techcombank (TCB) and Vietibank (CTG), up in a range of 0.7 – 2.71 per cent.

Real estate stocks also contributed to today’s gains, such as DIC Group (DIG) surged 2.21 per cent, Novaland (NVL) climbed 2.67 per cent, Đất Xanh Group (DGX) was up 1.8 per cent and Vincom Retail (VRE) rose 1.5 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index extended rallies to four consecutive sessions. It rose 0.57 points, or 0.24 per cent, to 233.33 points.

During the session, investors poured over VNĐ1.7 trillion into the northern bourse, equal to a trading volume of 85.48 million shares.

However, foreign investors continued to net sell on both main exchanges with a total value of VNĐ251.74 billion. Specifically, they net sold VNĐ248.42 billion on HoSE and VNĐ3.32 billion on HNX. — VNS