Banking stocks help VN-Index gain for third consecutive session

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), rose 5.18 points, or 0.44%, to close at 1195.9 on Tuesday, thanks to the rally of banking stocks.

VCB of Vietcombank, a stock with the largest market capitalization, increased 3.5%. Other banking codes also gained well, such as TCB of Techcombank 3.24%, ACB of Asia Commercial Bank 1.13%, TPB of TPBank 1.88%, and OCB of the Orient Commercial Joint Stock Bank 3.53%.

The major bourse saw 207 gainers and 250 losers, with over 1 billion shares changing hands for over VND20.1 trillion ($849.3 million), a slight increase of VND100 billion ($4.22 million) from the previous session.

The VN30 index, which tracks the performance of 30 largest cap stocks, increased 4.87 points to 1,198.01.

The real estate group showed good performance with CEO of CEO Group and DIG of DIG Corp as the main driving forces, expanding 3.89% and 2.4% respectively. PDR of Phat Dat Real Estate Development Corp., NVL of Novaland, and SCR of Saigon Thuong Tin Real Estate remained in the green.

Securities, manufacuring, energy and retail groups saw a divergence, while tickers of companies engaging in public investment projects, steel, seaport and electricity closed in the red.

Foreign investors turned net buyers on the HoSE to the tune of VND9 billion ($380,300) after net selling VND330 billion ($13.94 million) in the previous session. They mainly net purchased HPG of steel giant Hoa Phat, VRE of Vincom Retail, and SSI of broker Saigon Securities.

The HNX-Index on the Hanoi bourse inched up 0.4 points to 236.93, while the UpCOM-Index on the unlisted public company market went down 0.11 points to 88.58.