Market opens the week on strong liquidity

Market opens the week on strong liquidity

Your browser does not support the audio element. The rally extended the VN-Index's winning streak to a fifth day. A Vietcombank's employee processes a transaction at its office in Hà Nội. The lender's shares jumped more than  一. 一 per cent yesterday, leading the market's uptrend. VNS Photo Mai Hương

HÀ NỘI — The stock market inched higher on Monday, buoyed by strong liquidity from domestic investors. Foreign investors, however, were net sellers.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index gained more than  一0. 九 points, or 0. 八 九 per cent, to  一, 二 三 四. 九 八 points. The rally extended its winning streak to a fifth day.

The breadth of the market was positive with  八 一 stocks declining, while up to  二 五 六 ticker symbols moved up.

The liquidity also stayed above VNĐ 二0 trillion, of which the trading value on the southern bourse reached nearly VNĐ 二 四. 六 trillion (US$ 一 billion), equal to a trading volume of nearly  一. 一 billion shares.

The VN 三0-Index, tracking the  三0 biggest stocks on HoSE, also rose  一0. 一 一 points, or 0. 八 二 per cent, to  一, 二 四 四. 六 四 points. Twenty-five stocks of the VN 三0 basket advanced, while four dropped and one stayed flat.

The analysis team from Saigon - Hanoi Stock Exchange (SHS) said that for the short-term, the market was in a recovery phase which might support the VN-Index to head towards the old peak area of around  一, 二 五0 points and create a new base level before facing the strong resistance level of  一, 三00.

Therefore, short-term investors could watch the market closely and decide to participate, the securities firm reco妹妹ended.

Data compiled by a financial website vietstock.vn showed that the banking group dominated the top five stocks leading the market’s rally trend.

In particular, Vietcombank was the biggest gainer, with an increase of more than  一. 一 per cent. It was followed by Vinamilk (VNM), MBBank (MBB), BIDV (BID), and Vinhomes (VHM), up in a range of  一. 一- 三 per cent.

Also supporting the bullish sentiment, many stocks from other industries posted positive performance, such as Novaland (NLV), up  四. 六 五 per cent, PV Gas (GAS) rose over  一 per cent, Vietnam Maritime Co妹妹ercial Joint Stock Bank (MSB) soared by  六. 四 三 per cent, Techcombank (TCB) up  一. 四 五 per cent, and Vietjet Aviation (VJC) climbed  二. 五 五 per cent.

However, the gain was capped by losses in some stocks, led by SeaBank (SSB) with a fall of  二. 一 四 per cent.

The market’s benchmark was also weighed by the outflow of foreign capital. Of which, foreign investors net sold VNĐ 三 八 四. 六 七 billion on HoSE

The HNX-Index on the Hà Nội Stock Exchange (HNX) also increased by  二. 五 三 points, or  一.0 一 per cent, to  二 五 二. 二 八 points.

During the session, investors poured nearly VNĐ 二. 三 trillion into the northern exchange, equivalent to a trading volume of  一 一 七. 七 million shares.

Foreign investors net bought a VNĐ 五. 二 二 billion on the northern market. — VNS