VN-Index inches up after sharp fall

Vietnam’s benchmark VN-Index rose 1.77 points, or 0.15%, to close at 1,179.76 on Monday after plunging over 55 points in the previous session last Friday.

The trading value on the Ho Chi Minh Stock Exchange (HoSE), represented by the index, hit nearly VND22.2 trillion ($932 million), a sharp fall from VND36.1 trillion ($1.5 billion) last Friday when it hit the highest level in 19 months.

The major bourse saw 276 losers and 200 gainers, with 1.08 billion shares changing hands.

The VNSML-Index, featuring small-cap stocks, went down 1.14% while the VN30-Index and VNMID-Index, which track the performance of large and mid caps, experienced a slight rise thanks to the strong recovery of banking stocks.

Among banking tickers, BID of BIDV gained 3.17%, CTG of VietinBank 4.23%, VIB of Vietnam International Bank 1.53%, SHB of Saigon-Hanoi Bank 1.25%, STB of Sacombank 1.6%, MSB of Maritime Bank 1.88%, TPB of TPBank 2.21%, and LPB of LPBank 6.3%.

The red overwhelmed the real estate group, with VIC of Vingroup losing 1.64%, VHM of Vinhomes 1.41%, NVL of Novaland 3.9%, DIG of DIG Corp. 1.93%, PDR of Phat Dat Real Estate Development Corp. 3.76%, and DXS of Dat Xanh Services 5.61%. Notably, BCG of Bamboo Capital, HPX of Hai Phat Invest, LDG of LDG Investment, and ITC of Investment and Trading of Real Estate JSC hit their floor prices.

Tickers of manufacturing firms also showed bad performance as VNM of dairy giant Vinamilk, HPG of steel giant Hoa Phat, MSN of Masan Group, SAB of brewer Sabeco, and GVR of Vietnam Rubber Group went down 0.55%, 1.13%, 0.76%, 0.59%, and 2.77% respectively.

Meanwhile, the securities, energy, aviation and retail groups saw a strong divergence.

Foreign investors were net buyers on the HoSE for the third session to the tune of VND82.45 billion ($3.46 million). They mainly net purchased VIC and CTG.

The HNX-Index at the Hanoi Stock Exchange expanded 2.01 points to 237.97, while the UPCoM-Index at the Unlisted Public Companies Market inched up 0.23 points to 89.5.