VN-Index records strongest gain in 30 trading sessions
The benchmark VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), jumped 27.38 points, or 2.58%, to 1,086.69 on Monday, marking its strongest gain in the last 30 trading sessions.
The liquidity much improved with over 682 million shares changing hands for nearly VND11.7 trillion ($493.15 million), an increase of 52.16% from the Friday session.
The major bourse saw up to 383 gainers, including 43 hitting their ceiling prices, and only 42 losers.
Blue chips were the main driving force for the VN-Index's gain as the VN30 index expanded 33.64 points, or 3.19%, to 1,087.36, with almost all stickers closing in green.
Notably, the two only real estate tickers in the basket - NVL of Novaland and PDR of Phat Dat Real Estate Investment Corp - hit their ceiling prices. Other gainers included VHM of Vinhomes (+4.4%), VRE of Vincom Retail (+3.3%), VIC of Vingroup (+1.1%), and VPB of VPBank (+5.8%).
The highlight of Monday's session came from property stocks, with a series closing in purple. Besides large-cap codes like NVL and PDR, many small- and mid-cap tickers also hit the ceiling prices such as CEO of CEO Group, DIG of DIG Corp, and DXG of Dat Xanh Group.
The rally of the real estate stocks was attributed to the news that state-owned commercial banks had agreed on a credit package worth VND120 trillion ($5.06 billion) for this sector with interest rates for both developers and homebuyers 1.5-2% per year lower than the average lending rates offered by banks in each period.
Many other sectors like securities, banking, steel, oil and gas, cement, construction, and industrial real estate also showed good performance.
Foreign investors were net sellers for the fourth consecutive session to the tune of about VND90.62 billion ($3.8 million) on the HoSE. They mainly net sold VHM, DXG of Dat Xanh Group, VCB of Vietcombank, and DMC of Petrovietnam Ca Mau Fertilizer JSC; while net buying SSI of Saigon Securities, HSG of Hoa Sen Group, NVL, and HDB of HDBank.
The HNX-Index on the Hanoi bourse rose 5.88 points to 215.83, while the UpCOM-Index on the unlisted public company market went down 0.11 points to 78.83.
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