Tuesday , July 16 2024

Market rebounds as investor appetite returns, securities stocks shine

An office of FPT Securities Joint Stock Company (FTS). FTS rose 1.5 per cent on Thursday. — Photo FTS

HÀ NỘI — Thursday’s trading session concluded on a positive note, primarily driven by the strong performance of financial and securities stocks.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index jumped 0.06 per cent, to end Thursday at 1,162.22 points.

The market’s breadth was positive with 250 stocks increasing while 221 stocks declined.

Liquidity increased as domestic investors poured over VNĐ17.3 trillion (US$707 million) into the southern market, equivalent to a trading volume of over 860 million shares.

The recovery was boosted by gains in large-cap stocks. The VN30-Index edged 0.08 per cent higher to 1,163.56 points. Of the VN30 basket, 20 stocks rose while seven slid and three stayed unchanged.

In the VN-30 group, Bảo Việt Holdings (BVH) rose 3.7 per cent, Becamex (BCM) gained 2 per cent and PV Power (POW) advanced 2.2 per cent.

Investor confidence rebounded, leading to a resurgence in stock prices across various sectors. Securities stocks, in particular, emerged as highly sought-after investments during this period.

Towards the end of the session, the VN-Index’s gain was significantly strengthened as securities stocks rose, such as FPT Securities Joint Stock Company (FTS) and Hồ Chí Minh City Securities Corporation (HCM), Việt Capital Incorporation (VCI), Agribank Securities Corporation (AGR).

Liquidity increased while the market cooled down, showing that supply is still present and putting pressure on the market. Although cash flow is still trying to support the market, the green color is not spreading to many stock groups, said Việt Dragon Securities Co.

It is expected that the market will continue to be under pressure from supply and a correction may still occur in the near future. Therefore, investors need to slow down and observe supply and demand developments. Currently, they should avoid buying at high prices and wait to buy at the support price zone. In the short term, they should still take advantage of market increases to take profits on stocks that have risen to the resistance zone.

On the Hà Nội Stock Exchange (HNX), the HNX-Index jumped 0.56 per cent to 232.71 points.

During the trading session, over 82.3 million shares were traded on the northern bourse, worth over VNĐ1.5 trillion. — VNS

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