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The VN-Index recovery moved above the critical level of 1,000 points

The market marks the most significant gains in 5 months.

Source: Free Pics

Benchmark indices surged more than 3 percent yesterday, with many stocks hitting ceiling prices on the improvement of liquidity. The recovery helped the VN-Index move above the critical level of 1,000 points.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index finished the day at 1,028.01 points, up 34.65 points, or 3.49 percent. This was the largest one-day percentage gain of the market's benchmark since May 25.

Shares tilted to the upside with 305 stocks climbing on the southern bourse, while only 51 ticker symbols declined. Liquidity also showed signs of improvement as the matching value on HoSE reached more than VNĐ9.5 trillion (US$383.7 million), a gain of 63 percent over the previous session.

The 30 biggest stocks tracker VN30-Index also posted a gain of 38.09 points, or 3.85 percent, to 1,028.5 points. Twenty-eight stocks in the VN30 basket inched higher, of which nine stocks registered the maximum daily rise of 7 percent, while only two stocks ended flat.

Similarly, the HNX-Index on the northern bourse Hà Nội Stock Exchange (HNX) settled up on Thursday. The index increased by 7.68 points, or 3.73 percent, to 213.63 points.

During the session, more than 59.4 million shares were traded on HNX, worth VNĐ818.41 billion.

Statistics from the financial website showed that stocks across all sectors contributed to the market's rally yesterday. However, banking stocks still led the uptrend with numerous ticker symbols hitting ceiling prices.

Specifically, BIDV (BID) was the biggest gainer in market capitalization yesterday, up 7 percent. Other names in the top five stocks influencing the market's trend were Vietcombank (VCB), up 2.43 percent, Vietinbank (CTG) rose 7 percent, Masan Group (MSN), and VPBank (VPB) up 6.41 percent and 6.43 percent, respectively.

Strong gains in manufacturing, utilities, retail, real estate, and information technology (IT) industries also supported the sentiment.

In contrast, foreign investors decided to leave the Vietnamese market yesterday as they net withdrew over VNĐ159 billion on both leading exchanges. Of which, they net sold VNĐ168.52 billion on HoSE, while net bought VNĐ9.47billion on HNX.

Source: VNS


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