Vietnam’s benchmark VN-Index surpasses 1,500 points, highest in a month

Strong cash inflows from domestic investors in the final minutes of trading propelled the VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), to its highest level in a month on Tuesday, topping 1,500 points.

The major index ended the session at 1,509.54 points, up 24.49 points or 1.65% from the reference level.

Although the index briefly crossed 1,500 points late last week, it failed to hold above that level due to intraday corrections. The Tuesday session officially marked the VN-Index’s return to this key psychological threshold for the first time in over three years. The last time the index closed above 1,500 points was on April 7, 2022.

The green overwhelmed the market, with 224 stocks gaining, including 11 hitting their ceiling prices. The VN30 basket of large-cap stocks also performed well, with 26 increasing. Among them, VJC of Vietjet Air ended the day at its ceiling price with no sellers.

After heavy selling in the previous session, investors returned to Vingroup-related stocks. VIC of Vingroup led the gainers, rising nearly 5% to VND117,500 ($4.49) per share and contributing the most to the VN-Index’s gain. VHM of Vinhomes and VRE of Vincom Retail also advanced by 3.8% and 3.4% to VND95,500 and VND30,000, respectively.

By sector, banking stocks contributed the most to the market rally. EIB of Eximbank hit its ceiling price at VND27,150 ($1.04), while large-caps like HDB of HDBank, BID of BIDV, and VCB of Vietcombank all gained over 1%. TCB of Techcombank was a rare exception, falling 0.3%.

Investor optimism also extended to the securities sector. VIX of VIX Securities hit its upper limit with a buy surplus of over 5.2 million shares. Other leading brokerage stocks such as VND of VNDirect Securities, HCM of Ho Chi Minh City Securities, VCI of Vietcap Securities, and SSI of Saigon Securities all rose by more than 2%.

In real estate, besides VIC and VHM, most small- and mid-cap stocks saw positive trading. On the downside, LDG (LDG Investment) continued to hit its floor price with a sell surplus of over 41 million shares after a sharp rally in previous sessions.

Other sectors, including aviation, steel, oil & gas, and fertilizers, also closed in the green, with leading stocks in these groups rising by 2-4%.

The trading value on the HoSE reached VND33.3 trillion ($1.27 billion), down nearly VND2 trillion compared to the previous session.

The top three stocks by trading value were all from the securities group: SSI (VND1.93 trillion or $73.81 million), VIX (VND1.254 trillion), and VND (VND987 billion). The banking sector also attracted strong capital inflows.

Foreign investors were net sellers to the tune of nearly VND1.87 trillion ($71.53 million), marking their heaviest sell-off in the past three months. VJC was the main target, with nearly 20 million shares net sold, followed by SSI and SHB of Saigon-Hanoi Bank.

On the Hanoi Stock Exchange (HNX), the HNX-Index gained 0.84% to 247.85, while the UPINDEX on the Unlisted Public Companies Market (UPCoM) went down 0.24% to 104.02.