VN-Index slightly drops after three consecutive gaining sessions

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), went down 1.14 points, or 0.11%, to 1,057.12 on Thursday, ending its three-section gaining streak.

Vietnam's main bourse saw over 708 million shares traded for more than VND11.5 trillion ($490 million), an increase of VND300 billion from the previous session. There were 197 gainers and 155 losers.

The VN30 index, which tracks the performance of 30 largest-cap codes, fell 0.06 points to 1,054.93, with 16 tickers declining and 10 increasing.

Real estate stocks continued to be the focus of attention, with many hitting their celling prices such as DIG of DIG Corp., HQC of Hoang Quan Group, QCG of Quoc Cuong Gia Lai JSC, VPH of Van Phat Hung Corp., HAR of An Duong Thao Dien JSC, and SZL of Sonadezi Long Thanh Shareholding Company.

Notably, DIG recorded the largest trading value on the HoSE, at VND718 billion ($30.6 million), ranking third among stocks with the most positive impact on the VN-Index, after VPB of VPBank and NVL of Novaland Group.

Since mid-March, the market price of DIG has increased by more than 85% thanks to its 2022 profit growth of over 30% after audit, regulators’ moves to clear obstacles to property projects and its finished redemption of bonds worth VND2.6 trillion ($110.8 million). Recently, the company has set a before-tax profit of VND1.4 trillion ($59.6 million) in 2023, the highest level in its history.

Meanwhile, stocks of banking, securities, manufacturing and retail companies saw a divergence.

Foreign investors turned net buyers on the HoSE after five consecutive net-selling sessions to the tune of about VND120 billion ($5.1 million). They mainly net purchased VND of VNDirect Securities, SSI of Saigon Securities, and STB of Sacombank.

The HNX-Index on the Hanoi bourse rose 0.52 points to 214.41, while the UPCoM-Index on the unlisted public company market increased 0.29 points to 79.13.