Market rebounds, VN-Index returns to 1379.97 point-level

, Market rebounds, VN-Index returns to 1379.97 point-level

Vietnam’s benchmark VN-Index rebounded Tuesday after losing five points in the previous session, rising 0.53 percent to 1379.97 points, a new historic peak.

The index stayed in the green throughout the day, going as high as 1,386 points at the beginning of the afternoon session, before gradually cooling down. It closed up 7.34 points.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, slipped 1.18 percent to VND22.39 trillion ($973.6 million), the lowest figure since June 2. The bourse saw 189 tickers in the green and 204 in the red.

The VN30 basket, comprising the index’s 30 largest capped stocks, saw 17 stocks gain, with NVL of real estate developer Novaland Group leading the fray.

The ticker rose 4.1 percent, its third consecutive session in the green. It has risen over 136 percent this year.

MBB of Military Bank increased 3.3 percent to a new peak of its own. It pushed the index up by more than one point.

The top contributor to the index’s growth Tuesday was CTG of state-owned lender VietinBank, which pushed it up by 1.6 points. The ticker experienced a 3.2 percent growth this session.

Other big blue-chip gainers were HDB of private lender HDBank, up 2.1 percent; and GAS of energy giant PetroVietnam Gas, up 2 percent.

In the opposite direction, PDR of Phat Dat Real Estate Development dropped 2.3 percent, while REE of industrial appliance maker Refrigeration Electrical Engineering Corporation lost 1 percent, and VRE of mall operator Vincom Retail was down 0.9 percent.

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Foreign investors turned net buyers Tuesday to the tune of VND98.99 billion, with purchases focused on HPG of steel giant Hoa Phat Group, FUEVFVND, an exchange traded fund replicating the performance of stocks on the VN Diamond Index, and VCB of state-owned lender Vietcombank.

The VN Diamond Index is a group of 18 stocks, which includes blue chips such as TCB of biggest private lender Techcombank, VPB of private lender VPBank, MBB, CTG and IT giant FPT. The basket of stocks, selected based on their free-float capitalization, was introduced by HoSE November 2019, and the FUEVFVND began trading in May 2020.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, was up 0.27 percent, while the UPCoM-Index for the Unlisted Public Companies Market rose 0.43 percent.

This article was originally published in VNExpress

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