VN-Index approaches 1,060-point territory

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), increased 3.11 points, or 0.29%, to 1,059.44 on Thursday, marking its eighth consecutive gaining session.

The major bourse saw 190 gainers and 176 losers, with nearly 634 million shares changing hands for over VND11 trillion ($468.5 million), an increase of VND2.7 trillion from the previous session.

VN30 index, which tracks the performance of the 30 largest-cap stocks, rose 5.79 points to 1,067.24.

The real estate group made big contributions to the market gain following information about possibility of another policy interest rate cut and proposed measures on debt payment rescheduling for businesses.

ITC of Investment and Trading Of Real Estate JSC and PVL of Viet Property Investment JSC hit their ceiling prices, while NVL of Novaland Group expanded nearly 2%.

Three codes of the Vingroup ecosystem were among the top 10 stocks with the most positive impact on the market. VHM of Vinhomes went up 3.2%, followed by VRE of Vincom Retrail, 2.2% and VIC of Vingroup, 0.4%.

Banking tickers also performed well, with HDB of HDBank up 3.3%; PGB of PG Bank, MSB of Maritime Bank, and STB of Sacombank over 2%.

The steel group showed negative performance amid forecasts on price reduction next month and firms’ high inventories. NKG of Nam Kim Steel lost 4.3% and HSG of Hoa Sen Group closed 1.8% lower than the reference level.

Foreign investors were net sellers on the HoSE for the second session to the tune of over VND400 billion ($17 million). They mainly net sold STB of Sacombank, MWG of Mobile World Investment Corporation, and VRE of Vincom Retail.

The HNX-Index on the Hanoi bourse went up 0.36 points to 205.95, while the UpCOM-Index on the unlisted public company market declined 0.24 points to 76.49.