VN-Index rises for second consecutive session

Vietnam's benchmark VN-Index rose 12 points to close at nearly 1,241 on Wednesday, the second consecutive bullish session, led by small-cap stocks.

The selling force increased after 30 minutes of trading, driving the market into the red. However, rebound was observed at the end of the morning session, with a series of blue chips jumping by more than 17 points. The divergence took place in the afternoon, causing the market to gradually cool down.

The VN30 basket, which tracks the price of leading stocks in terms of market cap and liquidity on the Ho Chi Minh Stock Exchange (HoSE), was split with 10 gaining and 13 losing.

Leading the uptrend were MSN (Masan Group) and STB (SacomBank), hitting the ceiling price with a margin of 6.9%, followed by GAS (PV Gas) and TCB (Techcombank) which rose more than 3%.

In the opposite direction, the red extended its coverage to other blue chips like TPB, SAB, PDR, FPT, and VJC, restraining the index's gain.

VN30-Index closed the session at 1,286.41, up 6.86 points. Liquidity reached VND5,980 billion ($258.5 million), accounting for 43% of HoSE liquidity.

Small and medium stocks extended the positive momentum with VNSmallCap and VNMidcap up 1.32% and 2.03%, respectively.

VN-Index closed Wednesday at 1,240.76, up 12.39 points, with 272 gainers (15 stocks hit the price ceiling) and 177 losers. Meanwhile, HNX-Index fell by 5.6 points (1.78%) to 309.84, and UpCoM-Index dropped by 1.16 points (1.21%) to 94.73.

On the three exchanges, 558 stocks were gainers (29 stocks hit the price ceiling) and 384 losers, with total transaction value plunging $21.6 million to $598.2 million, the second lowest since the beginning of the month.

Despite the split, securities stocks like TVS, VCI, VIX jumped to the price ceiling. The purple coverage also enlarged to real estate stocks like DIG, HDG, DXS, along with other gainers like L14, VCR, LDG, CEO, G36, SCR, and TCH which climbed around 3%.

The green also dominated in banking stocks like VBB, STB, LPB, TCB, BVB, and SGB; in construction stocks including HBC, CTD, HTN, and DPG; and in other sectors like seafood, steel, and coal.

Foreign investors remained net buyers to the tone of more than $8.2 million on the HoSE, focusing on HPG (Hoa Phat Group), STB (SacomBank), and VRE (Vincom Retail).