Wednesday , July 24 2024

Market continues to gain for fourth day

During most of the day, VN-Index traded above the reference level. Even though the afternoon session recorded strong selling pressure, the VN-Index still ended the session higher on Thursday.

At FPT University Cần Thơ campus. Shares of the software manufacturer led the market on Thursday. — Photo courtesy of FPT

HÀ NỘI — Benchmark indices extended gains on Thursday, with the VN-Index approaching 1,280 points, despite ongoing net selling by foreign investors.

On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index increased 3.04 points, or 0.24 per cent, to 1,279.89 points, marking a fourth consecutive day of gains.

During most of the day, VN-Index traded above the reference level. Even though the afternoon session recorded strong selling pressure, VN-Index still ended the session higher on Thursday.

The market breadth was balanced with 151 gainers and 151 losers. Liquidity remained low with more than VNĐ14 trillion (US$544.7 million) in transaction values, equivalent to a trading volume of 523 million shares.

The VN30-Index, which tracks the 30 biggest stocks, climbed 5.13 points, or 0.39 per cent, to 1,310.63 points. Eleven ticker symbols in the VN30 basket edged up, while 15 inched down and four ended flat.

Data compiled by the financial website vietstock.vn showed that FPT Corporation (FPT) was the biggest gainer, rising by 3.66 per cent and contributing nearly 1.8 points to the VN-Index.

It was followed by the Liên Việt Post Joint Stock Commercial Bank (LPB), whose shares increased by 3.81 per cent, Việt Nam National Petroleum Group (PLX), up 4.9 per cent, Vietnam Rubber Group Joint Stock Company (GVR), up 1.16 per cent, and Vingroup Joint Stock Company (VIC), up 0.12 per cent.

However, some large-cap stocks faced slight sell-offs. Hòa Phát Group JSC (HPG) posted a decrease of 0.17 per cent, Saigon Beer – Alcohol – Beverage Corporation (SAB) was down 0.81 per cent and the Bank for Foreign Trade of Vietnam (VCB) lost 0.56 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Thursday, rising 0.19 per cent to 241.88 points, marking the fourth consecutive positive trading session.

During the trading day, nearly VNĐ1.1 trillion worth of shares, equivalent to a trading volume of over 51 million shares, were moved on the northern market.

Despite the gains, foreign investors extended their net selling spree, with over VNĐ577 million net sold on the HoSE. — VNS

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