Tuesday , September 26 2023

Shares reclaim losses on bargain-hunting


Photo shows Vincom Centre Trần Duy Hưng in Hà Nội. The shopping mall operator Vincom Retail shares (VRE) soared 7 per cent on Tuesday. — VNA/VnExpress News Photo 

HÀ NỘI Vietnamese shares on Tuesday reclaimed ground lost in the previous day’s sharp sell-off as large-caps were picked up by bargain-hunters.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose 2.77 per cent to close at 1,479.58 points.

The index had lost 2.25 per cent, to close Monday at 1,439.71 points.

The market’s breadth was positive with the number of gainers doubled the number of losers by 304 to 105.

On HoSE, investors poured over VNĐ22.2 trillion (US$980 million) into the market, equivalent to a trading volume of nearly 751 million shares.

The VN30-Index, tracking the 30 biggest stocks on HoSE, gained 3.05 per cent, to 1,516.16 points.

Of the VN30 basket, 28 stocks rose to cushion the market, while one declined and another closed flat.

The rally continued on the Vietnamese stock market as purchase power increased in the afternoon session to offset market-wide selling pressure in the previous session.

The uptrend of the indices continued to be consolidated as the buying demand was seen in a series of large stocks. In the VN-30 basket, the best performers were Masan Group (MSN), Liên Việt Post Bank (LPB), Vincom Retail (VRE) and Becamex (BCM), all hitting the ceiling prices. Besides, Hoà Phát Group (HPG) increased by 6.3 per cent, Vinhomes (VHM) rose by 6.3 per cent, Phát Đạt Real Estate (PDR) gained by 5.4 per cent, Tiên Phong Bank (TPB) climbed by 5.3 per cent and Bank for Investment and Development of Vietnam (BID) increased by 4.5 per cent.

A series of stocks in industry groups such as banking, securities, steel, oil and gas increased strongly, helping the VN-Index to end the session at the highest level in the entire trading time.

The financial banking group outperformed and supported the gains of the market with notable gainers including Vietinbank (CTG), Techcombank (TCB), Tiên Phong Bank (TPB), VPBank (VPB), Vietcombank (VCB), Military Bank (MBB), Sacombank (STB), Eximbank (EIB) and Bank for Investment and Development of Vietnam (BID).

The steel industry experienced a positive trading day with notable industry-representative stocks such as Hoà Phát Group (HPG), Hoa Sen Group (HSG) and Nam Kim Group (NKG) all climbing.

Notable gainers in the securities group included SSI Securities Inc (SSI), VNDirect Securities Co (VND), Việt Capital Inc (VCI) and Saigon-Hanoi Securities Co (SHS).

On the Hà Nội Stock Exchange (HNX), the HNX-Index gained 2.36 per cent, to close Tuesday at 410.23 points.

It had lost 4.09 per cent, to close Monday at 400.76 points. — VnExpress News

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