VN-Index up strongly on Vingroup stock rally

Vietnam’s benchmark VN-Index gained 11.6 points, or 0.95%, to close at 1232.21 on Friday, with VIC of Vingroup as major driving force.

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw 232 gainers and 226 losers. Its trading value increased over 5% to VND21.3 trillion ($896.8 million), with more than 1 billion shares changing hands.

Blue chips were the main support for the VN-Index gain as their VN-30 index, expanded 14.57 points to 1,240.77, with 18 tickers rising.

In this basket, VIC of Vingroup hit its ceiling price at VND72,600 ($3.06) after its subsidiary, electric vehicle maker VinFast, announced its ordinary shares and warrants are expected to begin trading on the Nasdaq under the new ticker symbols “VFS” and “VFSWW,” respectively on or around August 15. With this gain, VIC contributed nearly 5 points to the VN-Index.

Banking stocks performed well, especially large caps. VCB of Vietcombank rose 2.15%, BID of BIDV 0.43%, CTG of VietinBank 1.42%, SSB of SeABank 1.33%, and STB of Sacombank 4.26 %.

In the real estate group, in addition to leader VIC, DXG of Dat Xanh Group and TCH of Hoang Huy Investment Financial Services JSC also enjoyed the maximum increase.

In addition, VRE of Vincom Retail gained 2.33%, NVL of Novaland 1.46%, KDH of Khang Dien Holdings 4.44%, KBC of Kinhbac City Development Holding Corporation 3.9%, DIG of DIG Corp. 2.91%, NLG of Nam Long Group 2.38%, and PDR of Phat Dat Real Estate Development Corp. 2.09%.

Retail tickers closed in the green, with MWG of Mobile World, PNJ of Phu Nhuan Jewelrey, and FRT of FPT Retail earning 2.5%, 0.51% and 1.35%, respectively.

Securities, manufacturing and aviation codes saw a divergence while energy stocks closed in the red.

Foreign investors were net sellers on the HoSE to the tune of VND62 billion ($2.61 million). They mainly net sold HPG of steelmaker Hoa Phat Group and STB.

The HNX-Index at the Hanoi Stock Exchange went up 1.34 points to 245.25, while the UPCoM-Index at the Unlisted Public Companies Market rose 0.18 points to 93.28.