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Market remains upbeat on large-cap stocks
Vietnam News - 2/21/2024 3:55:13 PM
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 Benchmark indices finished higher on Tuesday, extending their rising streak to the seventh straight session with the return of both domestic and foreign investors. 
 
On the Hồ Chí Minh Stock Exchange (HoSE), VN-Index increased 5.09 points, or 0.42 per cent, to 1,230.06 points. It gained more than 15 points on Monday. 
 
However, the breadth of the market was neutral today, as 157 stocks declined while 157 ticked up. 
 
Liquidity remained at a high level as the trading value on the southern bourse stayed above VNĐ20 trillion. Accordingly, more than VNĐ21.1 trillion (US$860.7 million) was poured into the bourse, equivalent to a trading volume of over 939.9 million shares. 
 
The VN30-Index, which tracks the 30 biggest stocks on HoSE, also closed higher despite the fact that the number of decliners surpassed that of gainers by 16 to 10. Particularly, the index was last traded at 1,241.65 points, up 1.45 points, or 0.12 per cent. 
 
Saigon - Hanoi Securities JSC (SHS) said that the market has moved positively with the VN-Index breaching the short-term psychological resistance level of 1,200 points and approaching the significant resistance level of 1,250 points. 
 
“In recent sessions, we have also advised short-term investors to capitalise on these gains. However, there may be some market fluctuations in the near future, so we recommend that short-term investors refrain from chasing the market’s rallies,” SHS said. 
 
Leading the uptrend was Vietcombank (VCB), with a gain of 1.22 per cent in market capitalisation. 
 
The trio of stocks from the Vin-family, Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE), continued to rise strongly, up in the range of 1.32-6.03 per cent. On Monday, the three stocks all posted a maximum daily gain of 7 per cent. 
 
Also contributing to the market, stocks in the manufacturing industry performed well, such as Vietnam Rubber Group (GVR) which soared 5.22 per cent, Sabeco (SAB) rose 1.21 per cent, and Đức Giang Chemicals (DGC) climbed 2.17 per cent. 
 
The HNX-Index on the Hà Nội Stock Exchange (HNX) also ticked up by 0.13 points, or 0.06 per cent, to 233.5 points. 
 
During the session, nearly 98.5 million shares were traded on the northern exchange, worth VNĐ1.78 trillion. 
 
However, the market pared gains as some large-cap stocks faced selling pressure. Of which, PV Gas (GAS) was the biggest loser today, down 0.88 per cent. 
 
Meanwhile, foreign investors were still net buyers on the market, net buying VNĐ129.8 billion on both main exchanges. — VNS
 
Read original article here
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