Saturday , March 2 2024

Market ends the week higher on improved demand

A view of Royal City, a project developed by Vingroup. The company’s shares led the market rally trend yesterday, up 2.7 per cent. Photo

HÀ NỘI — Benchmark indices ended the week on a positive note, as risk appetite improved ahead of a long holiday. 

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) edged up 15.81 points, or 1.17 per cent, to 1,366.8 points. 

The market’s breadth was positive with 339 stocks of a total 533 traded on HoSE increasing. Liquidity also rose sharply compared to the previous session, of which the order matching on the southern bourse surged 25.7 per cent to VNĐ15.4 trillion (US$817.3 million).

The uptrend was due to gains in many large-cap stocks, especially in banking and realty sectors. The 30 biggest stocks tracker VN30-Index rose by 16.43 points, or 1.17 per cent, to 1,417.31 points. In the VN30-basket, 21 stocks climbed, while only seven declined and two ended flat. 

In the top five stocks influencing the bullish trend, Vingroup (VIC) was the biggest gainer yesterday, up 2.7 per cent. Other stocks were Techcombank (TCB), Asia Commercial Joint Stock Bank (ACB), Mobile World Investment Corporation (MWG), and Becamex (BCM), up in a range of 2.9-5.48 per cent. 

Supporting the benchmark index, stocks in seafood and fertiliser sectors witnessed strong performance with Petrovietnam Fertiliser & Chemicals Corporation (DPM), PetroVietnam Ca Mau Fertiliser JSC (DCM), Digiworld (DGW) and Phu Nhuan Jewelry JSC (PNJ) up at least 1.5 per cent, while Nam Viet Corporation (ANV) and Camimex Group (CMX) hit the maximum daily gain of 7 per cent. 

However, gains were capped by losses of some big stocks like PV Gas (GAS), down 1.58 per cent, Vietcombank (VCB), down 0.74 per cent, Vietinbank (CTG), down 1.6 per cent, and Sabeco (SAB) down 1.76 per cent. 

The trend was in line with expectations from analysts of Saigon – Hanoi Securities JSC (SHS) that the VN-Index is likely to recover in the last trading session to inch closer to the psychological level of 1,400 points. 

On the Hà Nội Stock Exchange (HNX), the HNX-Index increased by 5.63 points, or 1.56 per cent, to 365.83 points.

Investors poured VNĐ1.7 trillion into the northern market, equivalent to a trading volume of 78.7 million shares. 

Foreign investors also returned to the market as they net bought a total VNĐ108.87 billion on two main exchanges. Of which, they net bought a value of VNĐ88.91 billion on HoSE and VNĐ19.96 billion on HNX. – VnExpress News

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