VN-Index rallies for second consecutive session

Vietnam’s benchmark VN-Index recorded a strong gain for the second consecutive session on Thursday thanks to surging bottom-fishing demand.

Closing the session, the index, which tracks the Ho Chi Minh Stock Exchange's (HoSE) performance, climbed 26.36 points or 2.8% to 969.26, with 397 gainers, including 76 hitting their ceiling prices, and 73 losers.

The HCMC bourse saw more than 724 million shares changing hands for VND11.4 trillion ($459.4 million).

Cash flows mainly ran into the financial-banking group with more than VND4 trillion ($161.2 million). Eximbank's EIB had the largest trading value, at VND928 billion ($37.4 million), although this ticker extended its streak of seven consecutive floor-hitting sessions.

Almost all stocks, from large-cap to mid- and small-cap ones, posted strong gains from the session opening. Especially, in the Vingroup ecosystem, VIC of Vingroup and VRE of Vincom Retail hit their ceiling prices and VHM of Vinhomes rose 6.8%.

Other tickers in the basket of 30 largest-cap stocks, VN30, like HPG of steel giant Hoa Phat, GVR of Vietnam Rubber Group, MSN of Masan Group, and STB of Sacombank climbed up at least 6.5%.

However, NVL of Novaland and PDR of Phat Dat Real Estate Development Corporation continued to hit their floor prices, with 48 million and over 100 million shares waiting for buyers, respectively.

Foreign investors remained net buyers for the ninth consecutive session to the tune of VND1.5 trillion ($60.45 million) on the HoSE. They mainly purchased HPG, STB and KDH of real estate developer Khang Dien Holding Corporation.

HNX-Index on the Hanoi bourse increased by 4.41 points or 2.4% to 187.86, while UpCOM-Index on the unlisted public company market rose 1.22 points or 1.87% to 66.54.