VN-Index rallies, foreign investors increase net purchase

Vietnam’s benchmark VN-Index regained the green color on Tuesday after a strong fall in the previous session.

The index, which represents the Ho Chi Minh Stock Exchange (HoSE), increased 15.38 points or 1.49% to 1,047.45, with 258 gainers and 160 losers. Nearly 975 million shares changed hands for over VND13,179 billion ($557.8 million).

Blue chips, especially those in the finance group, played a leading role, with almost all gaining like SSI of Saigon Securities up 6.5%, STB of Sacombank 5.9%, TCB of Techcombank 5.9%, and VPB of VPBank 2.7%.

The positive effect from the financial stocks spread to many other blue chips with VHM of Vinhomes expanding 5%, VRE of Vincom Retail 3.5% and BVH of Bao Viet Group 2.9%.

Therefore, the VN30-Index, which features 30 largest-cap tickers, climbed up over 19 points with 24 gainers and four losers.

The securities group became the highlight of the session with a series of stocks closing in the purple color, including VCI of Viet Capital Securities, HCM of Ho Chi Minh City Securities, VND of VNDirect Securities, FTS of FPT Securities, and SHS of Saigon-Hanoi Securities.

The banking stocks showed their good performance with EIB of Eximbank hitting its ceiling price, SHB of Saigon-Hanoi Bank gaining 3.8%, SGB of Saigon Bank 3.1%, NVB of Navibank 1.6%, and ABB of ABBank 1.2%.

Real estate, steel, oil and gas, chemical, industrial property, coal, public investment and aviation groups also made spectacular reversals from the red to the green at the end of the session.

Foreign investors continued to be net buyers to the tune of VND897 billion ($37.97 million) on the HoSE, a 2.7-fold increase against the previous session. They have net purchased Vietnamese stocks for 17 consecutive sessions with a total value of over VND16 trillion ($667.3 million).

During the Tuesday session, foreign investors mainly net bought NVL of Novaland, VHM, VND and SSI; while net selling VNM of Vinamilk, VIC of Vingroup and HDB of HDBank.

The HNX-Index on the Hanoi bourse went up 3.06 points or 1.45% to 213.59, while the UpCOM-Index on the unlisted public company market slight rose 0.34 points or 0.48% to 71.84.