Banking stocks help VN-Index gain 15 points

Vietnam’s benchmark VN-Index surged 15.44 points, or 1.26%, to 1241.42 on Monday, thanks to the rally of banking stocks.

The trading value on the Ho Chi Minh Stock Exchange (HoSE), represented by the index, hit VND26.5 trillion ($1.12 billion), up 14.89% from the previous session last Friday.

The major bourse saw up to 342 stocks gaining and 129 losing, with nearly 1.3 billion shares changing hands.

The VN-30 index, which tracks the performance of 30 largest caps, expanded 19.26 points, or 1.56%, to 1,250.68, with up to 27 gainers and only three losers.

The banking group showed their best performance, with all codes on the HoSE gaining. Notably, LPB of LPBank hit its ceiling price; CTG of VietinBank went up 5.16%, VPB of VPBank 2.03%, TCB Techcombank 2.23%, STB of Sacombank 3.8%, SSB of SeABank 4.31%, and OCB of the Orient Commercial Bank 2.7%.

Securities stocks also closed in the green, with SSI of Saigon Securities up 1.71%, HCM of Ho Chi Minh City Securities 3.3%, VCI of Viet Capital Securities 0.56%, VIX of VIX Securities 0.9%, FTS of FPT Securities 1.05%, BSI of BIDV Securities 2.26%, and AGR of Agribank Securities 3.19%.

In the manufacturing group, large-cap stocks such as HPG of steel giant Hoa Phat, VNM of Vinamilk, MSN of Masan Group, SAB of brewer Sabeco, and GVR of Vietnam Rubber Group gained, while smaller caps saw a divergence.

Retail stocks were also positive, with MWG of Mobile World Investment Corp., FRT of FPT Retail, and PNJ of Phu Nhuan Jewelry gaining 1.51%, 1.73% and 2.53% respectively.

Meanwhile, a divergence was seen in real estate, energy and aviation groups.

Foreign investors were net sellers on the HoSE to the tune of VND393.6 billion ($16.6 million).

The HNX-Index at the Hanoi Stock Exchange went up 3.27 points or 1.35% to 242.41, while the UPCoM-Index at the Unlisted Public Companies Market rose 0.87 points or 0.95% to 92.57 points.