Money pours into stock market, VN-Index advances by nearly 16 points

SGGP
Investors were willing to buy stocks at high prices, so the whole market had seen more than 700 stocks increase in prices.
Money pours into stock market, VN-Index advances by nearly 16 points ảnh 1 Securities stocks make a breakthrough on July 20. (Photo: SGGP)
Vietnam stock market witnessed an explosion of market liquidity in the trading session on July 20. Therefore, most stocks rallied, especially the group of securities stocks, which made a breakthrough, causing the VN-Index to recover positively, sometimes recouping nearly 20 points.

Opening the morning session, large-cap stocks, which contributed to the strong rising momentum of the benchmark, included BID, VCB, MSN, GAS, and CTG, with an increase ranging from 2 percent to 3 percent. Besides, oil and gas stocks, namely PLX, PVG, PVS, POS, and PVD, also advanced by 2-3 percent. Especially, securities stocks made a breakthrough, with more than 20 stocks gaining by more than 3 percent. Specifically, FTS and BSI hit the ceiling, and VND, HCM, and VCI rose by more than 5 percent. Moreover, retail stocks, such as FRT, DGW, and PET, also surged simultaneously, helping the VN-Index maintain a positive upward trend.

Another bright spot in the market was that foreign investors returned to net buy more than VND500 billion on the HoSE, focusing on SSI, VND, GAS, and PNJ. The total trading value of the two exchanges exceeded VND8.7 trillion in the morning trading session, much higher than the level of VND5-6 trillion per session in the previous days. At the end of the morning trading session, the VN-Index gained 18.06 points, or 1.53 percent, to 1,196.39 points, with 370 gainers, 89 decliners, and 50 standstill stocks.

Meanwhile, the HNX-Index added up 4.69 points, or 1.65 percent, to 289.12 points, with 143 winners, 44 losers, and 40 unchanged stocks. The total trading value reached nearly VND9.2 trillion on two stock exchanges, of which HoSE alone reached about VND7.7 trillion.

In the afternoon session, the green color still covered the whole market. However, industrial real estate stocks were sold heavily to take profits because they had increased robustly before, causing some to decline. For instance, IDC went down 1.84 percent, and SZC dropped by 2.17 percent. In contrast, the group of construction real estate stocks still maintained good rising momentum. Specifically, LDG, HQC, SCR, and TDC hit the ceiling. Insurance stocks also climbed, such as MIG with an increase of 4.2 percent, PTI with 7.1 percent, and VNR with 2.2 percent.

Despite being not as strong as securities stocks, most banking stocks still maintained bullish sentiment. Specifically, PGB hit the ceiling, TPB soared by 4.8 percent, KLB picked up 3.4 percent, and ABB mounted by 2.9 percent.

The VN-Index rose by 15.81 points, or 1.34 percent, to close at 1,194.14 points, with 374 winners, 87 losers, and 67 unchanged stocks. Closing the session on the HNX, the HNX-Index enhanced 4.44 points, or 1.56 percent, to 288.87 points. Of the index members, 164 increased, 47 decreased, and 48 trodden water.

Market liquidity improved much compared to previous trading sessions. The total trading value hit VND15.4 trillion, up 33 percent compared to the previous trading session. Foreign investors also net bought VND190 billion on the HoSE.

By Nhung Nguyen – Translated by Thanh Nha

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