Tuesday , July 16 2024

Liquidity hits 11-session high as VN-Index soars above 1,290 points

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 10.15 points, or 0.79 per cent, to 1,293.71 points. This marked the ninth consecutive positive session.

 

 

Packaging processed rubber at a factory in Bình Dương. Vietnam Rubber Group (GVR) shares led the market on Tuesday. — VNA/VNS Photo

 HÀ NỘI — Markets continued their upward momentum, ending higher on Tuesday, primarily driven by gains in rubber and banking stocks. This marked the ninth consecutive positive session.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 10.15 points, or 0.79 per cent, to 1,293.71 points.

Market breadth was positive, with 226 gainers and 102 losers. Liquidity on the southern bourse reached its highest in 11 trading sessions, increasing by 9.7 per cent to nearly VNĐ22 trillion (US$857.4 million), with a trading volume of 858 million shares.

The VN30-Index, which tracks the 30 biggest stocks on HoSE, increased by 5.95 points, or 0.45 per cent, to 1,321.78 points. In the VN30 basket, 25 stocks rose while five fell.

Data from vietstock.vn indicated that Vietnam Rubber Group – Joint Stock Company (GVR) was the biggest gainer, rising over 4.11 per cent and contributing more than 1.5 points to the VN-Index.

Banking stocks also performed well on Tuesday. Leading the sector was the Bank for Foreign Trade of Vietnam (VCB), which increased by 1.03 per cent, contributing over 1.2 points to the VN-Index.

Other notable gainers included the Bank for Investment and Development of Vietnam (BID), which rose by 1.06 per cent, Vietnam Prosperity Joint Stock Commercial Bank (VPB), up by 1.84 per cent and HCM City Development Joint Stock Commercial Bank (HDB), up by 3.48 per cent.

Despite the rallies, some large stocks faced sell-offs. FPT Corporation (FPT) decreased by 1.5 per cent, Vietnam Airlines JSC (HVN) fell by 2.95 per cent and Liên Việt Post Joint Stock Commercial Bank (VRE) lost 0.93 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also closed higher, rising by 1.03 per cent to 245.66 points. During the session, shares worth more than VNĐ1.6 trillion, equivalent to a trading volume of 69 million shares, were traded on the northern market.

Foreign investors continued their net selling spree, offloading over VNĐ463 billion on the HoSE. — VNS

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