VN-Index revives 15 points

SGGP
The cash flow unexpectedly poured into the VN30 group in the afternoon trading session, helping the VN-Index, which was flooded in red, suddenly recoup by nearly 15 points at the end of the trading session on May 24.
Unlike previous trading sessions, the demand for pillar stocks remained until the end of the trading session, instead of being sold off at G hour. The VN-Index rallied robustly by 14.57 points, or 1.2 percent, to close at 1,223.38 points.

Although the VN-Index regained strongly, the number of winners and losers was quite balanced, with 224 advancers compared to 210 decliners. However, the number of gainers completely dominated the VN30 basket, with 26 gainers compared to four losers, namely HPG, KDH, PLX, and SAB.

The driving force for the VN-Index continued to come from MSN, with an increase of 4.3 percent. The steadiness of MSN was the motivation for the rest of the stocks in the VN30 basket, such as GAS, VNM, FPT, VRE, VCB, TPB, STB, SSI, PNJ, and CTG.

The bright spot in the trading session also included banking and securities stocks. After the previous series of corrections, this stock group simultaneously recovered thanks to the appearance of the bottom-fishing cash flow. Specifically, STB hit the ceiling; VPB went up nearly 3 percent; VCI surged by 4.11 percent; SSI jumped by 6 percent, pushing the VN-Index up spectacularly.

However, in contrast to the prosperity of financial stocks, steel stocks suddenly dropped sharply, such as HSG, NKG, TLH, POM, HMC, and SMC. Despite receiving lots of positive information from the annual general meeting of shareholders this morning, HPG even could not escape the selling pressure from the holders.

The demand increased strongly at the end of the trading session, helping the trading value of the VN30 basket surpass VND5 trillion. As a result, the market liquidity of the HoSE was slightly improved compared to the previous day, with 528.4 million shares matched, equivalent to a total value of VND13.41 trillion.

Foreign investors returned to be net buyers with about VND190 billion on the HoSE.

On the smaller bourse in the North, the HNX-Index increased by 5.3 points, or 1.76 percent, to 305.96 points.

By Hai Ho – Translated by Thanh Nha

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