VN-Index inches higher on the beginning of New Year

The breadth of the market was negative as the number of decliners surpassed that of gainers by 164 to 148.

Benchmark indices were mixed as the domestic market reopened after the New Year holiday.

On the Hồ Chí Minh Stock Exchange (HoSE), the HoSE increased 1.79 points, or 0.16 per cent, to 1,131.72 points.

The market benchmark had gained 12 per cent last week. The size of stock market capitalisation reached nearly VNĐ6 trillion, an increase of more than 9 per cent year-on-year, equivalent to about 62 per cent of GDP in 2022.

After opening the morning trade, the index added up seven points to break over the 1,137 point-level with many green spreading across most of the sectors. But the momentum was unable to remain strong until the afternoon trade.

The breadth of the market was negative as the number of decliners surpassed that of gainers by 164 to 148. Liquidity rose from the last trading session, up 8.2 per cent to over VNĐ17.1 trillion (US$703.3 million). That amount was equal to a trading volume of more than 842.2 million shares.

The VN30-Index, which tracks the 30 biggest stocks on HoSE, was almost unchanged as the index just rose slightly by 0.18 points, or 0.02 per cent, to 1,131.64 points. In the VN30 basket, 14 stocks inched higher, while 15 declined and one was flat.

Vietcombank was the biggest gainer in the market, up nearly 4 per cent, and led the market's bullish trend on Tuesday.

Other stocks contributing to the rallies, which were mostly in the banking industry, were Asia Commercial Joint Stock Bank (ACB), up 2.3 per cent, Masan Group (MSN) soared 2.09 per cent, Vinamilk (VNM) rose 1.04 per cent, Techcombank (TCB) was up 0.94 per cent and MBBbank (MBB) increased 1.07 per cent.

In contrast, many big names saw significant losses such as Hòa Phát Group (HPG) plunged 1.79 per cent, VPBank (VPB) was down 1.82 per cent, and Vingroup (VIC) dropped 1.35 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index settled lower on Tuesday, down 1.05 points, or 0.45 per cent, to 229.99 points.

During the session, investors poured over VNĐ1.2 trillion, equal to a trading volume of 61.7 million shares.

Foreign investors were net sellers on both main exchanges as they net sold VNĐ354.93 billion on HoSE and VNĐ29.33 billion on HNX.

On the Asian markets, shares kicked off the first trading day of the New Year, as investors returned after a holiday.