VN-Index makes strongest gain in 5 months on securities stock rally

Vietnam’s benchmark VN-Index on Tuesday made a spectacular reversal from the plunge of nearly 18 points in the previous session, gaining 21.81 points, or 1.78%, to 1,245.44.

This marked the strongest gain of the index, representing the Ho Chi Minh Stock Exchange (HoSE), since March 15.

The green overwhelmed the market, with up to 407 gainers and 116 losers on the major bourse. Its trading value reached VND23 billion ($954.2 million), down 28% from Monday which recorded VND32 trillion ($1.33 billion), the highest level in more than three weeks.

The VN-30 Index, which tracks the performance of the 30 largest cap stocks, surged 25.12 points to 1,255.83.

The financial group shone with six representatives in the top 10 contributors to the market. VCB of Vietcombank took the lead, climbing 1.4%.

Securities stocks showed the best performance with a series hitting their ceiling prices such as SSI of Saigon Securities, VND of VNDirect Securities, FTS of FPT Securities, BSI of BDIV Securities, CTS of VietinBank Securities, and AGR of Agribank Securities. Other codes also expanded from 5.6% to 9%.

Banking tickers also closed in the green, but their increase was lower than the general market. Some gaining over 2% included TCB of Techcombank, MBB of MBBank, STB of Sacombank, SHB of Saigon-Hanoi Bank, and MSB of Maritime Bank.

The real estate group bounced back strongly after the steep fall in the previous session. Specifically, VHM of giant Vinhomes increased 1.9%, VRE of Vincom Retail 2.79%, NVL of Novaland 2.2%, PDR of Phat Dat Real Estate Development Corp. 6.48%, DIG of DIG Corp. 4.14%, and DXG of Dat Xanh Group 5.19%. Notably, QCG of Quoc Cuong Gia Lai Corp. enjoyed the maximum expansion.

The energy and retail groups also traded positively while the manufacturing and aviation tickers saw a divergence.

Foreign investors turned net buyers on the HoSE to the tune of nearly VND145 billion ($6 million), the highest level since the beginning of the month, after net selling over VND1 trillion ($41.52 million) in the previous session. They mainly net bought PDR, SSI, VIX and VCB.

The HNX-Index on the Hanoi Stock Exchange, where mid and small caps list, rose 1.99% to 256.32 points, while the UPCoM-Index on the Unlisted Public Companies Market inched up 0.6% to 94.27.