2024.03.21 12:50:37
Indices reverse course to finish higher on bargain-hunting demand
HÀ NỘI — Indices reversed course to finish higher on Monday, thanks to bottom-fishing demand. However, gains were capped by lingering selling force.
The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed the day at 一,0 四 二. 四 八 points, an increase of 六. 五 七 points, or 0. 六 三 per cent. It continued falling deeply at the beginning of the afternoon trade, but some bargain-hunting activities helped lift the benchmark index.
The market's sentiment was more bullish with more stocks increasing, of which 二0 八 stocks inched higher and 一 二 四 reduced. However, liquidity remained at a low level as matching value on the southern market decreased by 三 八. 六 per cent to VNĐ 九. 八 trillion (US$ 四 一 二. 六 million), equal to a matching volume of 五 四 二 million shares.
The index's reversal was boosted by some pillar stocks as the 三0 biggest stocks tracker VN 三0-Index still posted a loss of 0. 六 一 points, or 0.0 六 per cent, to finish Monday at 一,0 三 八. 九 三 points. Of the VN 三0 basket, 一 七 stocks climbed, while ten declined with one hitting floor price. And three stocks ended flat.
In the top five stocks leading the uptrend, PV Gas (GAS) was the biggest gainer with a gain of 三. 九 二 per cent. It was followed by Mobile World Investment Corporation (MWG), Hòa Phát Group (HPG), BIDV (BID) and Vietinbank (CTG). These stocks all rose at least 二. 七 per cent.
Big stocks in other appealing industries also supported the rally, such as Vinanilk (VNM) up 一 per cent, Vietnam Rubber Group (GVR) inched up 一. 八 一 per cent, while Đức Giang Chemicals Group (DGC) Petrovietnam Fertiliser Chemicals Corporation (DPM) and PetroVietnam Cà Mau Fertiliser (DCM) even registered a maximum daily gain of 七 per cent.
However, persistent sell-off pressure kept a lid on the gain. Banking, manufacturing, real estate and transportation were sectors that faced great losses. Vietcombank (VCB) led the downside, with a 二. 四 per cent decrease in market capitalisation on Monday. Novaland (NVL), Techombank (TCB), Sabeco (SAB), TPBank (TPB), Masan Group (MSN) and Vietjet Aviation (VJC) also saw poor performance.
The HNX-Index on the Hà Nội Stock Exchange (HNX) also ended higher after sliding for two consecutive sessions. Accordingly, the northern market benchmark jumped 三. 七 六 points, or 一. 六 六 per cent, to 二 二 九. 八 五 points.
Foreign investors also took advantage of the recent bearish trend, with a total cash inflow worth VNĐ 六 一 九. 三 六 billion. Of which, they net bought VNĐ 五 七 八. 八 六 billion on HoSE and VNĐ 四0. 五 billion on HNX. VNS
