VN-Index up 15 points after losing over 100 points last week

Vietnam’s benchmark VN-Index gained 15.37 points, or 1.31%, to 1,190.22 on Monday, after losing more than 100 points last week, thanks to the rallies of securities and banking stocks.

The trading value on the Ho Chi Minh Stock Exchange (HoSE), represented by the VN-Index, dropped VND9 trillion from Friday to VND16 trillion ($628.44 million).

The major bourse saw 374 stocks gaining and 114 declining, with 708 million shares changing hands.

The VN30 index, tracking the performance of 30 largest caps in the market, rose 12.6 points, or 1.06%, to 1,206.64.

Among the blue chips, BID of BIDV bank was the best performer, contributing 2.5 points to the VN-Index as it increased nearly 4% to VND50,100 ($1.97). SSI of Saigon Securities, TPB of TPBank, and VRE of Vincom Retail climbed over 5%; STB of Sacombank over 3%; CTG of VietinBank, TCB of Techcombank, and VPB of VPBank more than 1%.

On the contrary, VIC of Vingroup lost more than 1%, being the biggest loser in the large-cap group. MBB of MBBank, VNM of Vinamilk, and VHM of real estate developer Vinhomes also closed in the red.

In the mid-cap group, securities stocks were the focus, with FTS of FPT Securities, VND of VNDirect Securities, and BVS of Bao Viet Securities hit their ceiling prices; HCM of Ho Chi Minh City Securities, MBS of MBBank Securities and SBS of SBS Securities gained more than 6%.

The rally of securities stocks are attributed to the information about the official operation of the new trading system provided by Korea Exchange (KRX) on May 2.

Despite the market gain, foreign investors remained net sellers to the tune of more than VND240 billion ($9.43 million) on the HoSE.

The HNX-Index on the Hanoi Stock Exchange went up 2.04% to 225.31 points, while the UPCoM-Index on the Unlisted Public Companies Market rose 1% to 88.02 points.