Blue chips help VN-Index gain 10 points

The VN-Index, which tracks the performance of the Ho Chi Minh Stock Exchange (HoSE), increased 9.56 points, or 0.92%, to 1,048.2 on Wednesday, ending its three-session losing streak.

Liquidity on the major bourse of Vietnam improved with nearly 586 million shares traded for more than VND9.86 trillion ($417.4 million), a surge of 46.71% from the previous session. Up to 326 tickers gained while 97 declined.

Blue chips in the VN30 basket were the main support for the market, with 25 gainers and only four losers. Among the gainers, VPB of VPBank expanded 3%, ACB of Asia Commercial Bank 2.9%; while many others recorded a rise of at least 2%.

However, NVL of property developer Novaland had the most negative impact on the benchmark index, as it hit its floor price with up to 2.7 million shares waiting for buyers.

The ticker has gone down for seven consecutive sessions, including three floor-price hits. Its market price has dropped by more than 27% to VND11,150 ($0.47), the lowest since it was listed on the HoSE in 2016.

Many major groups showed their good performance, including securities, banking, steel, and real estate.

The highlight of the session came from the tickers of companies engaging in public investment projects, with VCG of Vinaconex, FCN of Fecon Corp, LCG of Lizen JSC, and HHV of Deo Ca Traffic Infrastructure Investment JSC hitting their ceiling prices.

This group’s positive performance spread to related industries likecement, industrial real estate, and construction.

Foreign investors turned net sellers to the tune of nearly VND330 billion ($13.96 million) on the HoSE after net purchasing VND56 billion ($2.37 million) in the previous session.

They mainly net sold STB of Sacombank, NVL, VIC of Vingroup, VND of VNDirect Securities, and DXG of Dat Xanh Group; while net buying KDH of Khang Dien Holdings, VCG, PVD of PV Drilling and BID of BIDV bank.

The HNX-Index on the Hanoi bourse achieved 3.11 points to 207.97, while the UpCOM-Index on the unlisted public company market rose 1.53 points to 79.47.