Banking stocks help VN-Index gain for 8th consecutive session

Vietnam’s benchmark VN-Index rose 0.96 points, or 0.08%, to close at 1,174.09 on Tuesday, marking its eighth consecutive gaining session.

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw 188 tickers gaining and 272 losing, with over 873 million shares changing hands for VND16.8 trillion ($710.6 million), a decrease of nearly 10% from the previous session. Cash flows mainly ran into the finance, industry and real estate groups.

The VN30 index, which tracks the performance of 30 largest cap stocks, went up 2.24 points to 1,166.82, with 10 gainers and 17 losers.

Banking stocks were the major driving force of the VN-Index gain, with BID of BIDV up 1.08%, VPB of VPBank 2.44%, TCB of Techcombank 1.25%, STB of Sacombank 1.61%, SHB of Saigon-Hanoi Bank 3.28%, and TPB of TPBank 3.84%.

Meanwhile, the groups of raw materials, real estate and consumer goods had the most negative impact on the market. Among the top 10 worst performers, five came from these three groups, including all the three tickers in the Vingroup family namely VHM of Vinhomes, VRE of Vincom Retail and VIC of Vingroup.

Securities and energy stocks saw a divergence while manufacturing, aviation and retail codes were in the red.

Foreign investors were net buyers on the HoSE for the second session to the tune of over VND400 billion ($16.9 million). They mainly net purchased VHM and VNM of Vinamilk.

The HNX-Index on the Hanoi bourse inched up 0.01 points to 230.96, while the UpCOM-Index on the unlisted public company market gained 0.21 points to 87.02.