Market extends rallies, VN-Index inches close to 1,100 points

Benchmark indices extended rallies on Monday, boosted by the market's bullish sentiment and strong net inflows from foreign investors.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index opened the new week on a positive note as it headed toward the 1,100-point level. The index closed the day at 1,093.67 points, a gain of 13.66 points, or 1.26 per cent. It gained more than 11 per cent last week.

The market's breadth was positive as many stocks tilted to the uptrend. Of which, 244 stocks on the southern bourse advanced, while 122 stocks inched lower. Liquidity remained at a high level. Accordingly, nearly 1.3 billion shares were traded on HoSE, worth more than VND20.97 trillion (US$875.2 million).

Saigon - Hanoi Securities JSC expected the VN-Index to fluctuate in a range of 1,000-1,150 points and create a wide accumulation area.

The VN30-Index, which tracks the 30 biggest stocks on HoSE, also posted an increase of 17.95 points, or 1.64 per cent, to 1,110.94 points. In the VN30 basket, 25 stocks added points with four stocks hitting ceiling prices, while three stocks declined. And two stocks stayed flat.

Statistics from a finance website vietstock.vn showed that banking, realty, and manufacturing industries continued to lead the market's rally. Specifically, VPBank was the biggest gainer yesterday, up 4.91 per cent.

Others in the top five stocks influencing the trend were Vinhomes (VHM), PV Gas (GAS), Hoa Phat Group (HPG), and Vietinbank (CTG). The stocks rose by 1.8-2.83 per cent.

The HNX-Index on the Ha Noi Stock Exchange (HNX) also finished higher yesterday, marking its eighth gaining session in a row. It gained 4 points, or 1.85 per cent, to 219.96 points.

During the session, investors poured nearly VND1.8 trillion into the northern market, equivalent to a trading volume of nearly 123.2 million shares.

Supporting the Vietnamese stock market, foreign investors continued to net buy a large value on both main exchanges. Of which, they net bought nearly VND1.4 trillion on HoSE and VND22.62 billion on HNX.  

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