VN-Index increases for second day in a row

Benchmark indices extended gains on Tuesday, rallies for a second straight session.

On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index increased 3.52 points, or 0.27 per cent, to 1,283.52 points.

Throughout most of the day, the VN-Index traded above the reference level, maintaining a relatively stable range and closing the session higher.

More stocks moved to the downside on the southern bourse, of which 166 ticker symbols finished lower, while 150 stocks inched higher.

Liquidity decreased compared to the previous session but still remained high, with more than 935 million shares traded on HoSE, worth nearly VNĐ23.8 trillion (US$932 million).

The benchmark index was boosted by gains in large-cap stocks, with the 30 biggest stocks tracker VN30-Index posting an increase of 0.25 per cent, to 1,300.99 points. Sixteen stocks in the VN30 basket were up, while eleven slid and two flat lined.

Data compiled by financial website vietstock.vn showed that FPT Corporation (FPT) was the biggest gainer on the market with shares up nearly 1.61 per cent, contributing nearly 0.7 points to the VN-Index gain.

It was followed by Saigon Beer - Alcohol - Beverage Corporation (SAB), up 3.37 per cent, Hòa Phát Group JSC (HPG), up 1.03 per cent and PetroVietnam Power Corporation (POW), up 4.09 per cent.

Banking stocks also flourished on Tuesday. Bank for Foreign Trade of Vietnam (VCB), Bank for Investment and Development of Vietnam (BID), Vietnam Technological and Commercial Joint Stock Bank (TCB) and Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG), all saw growth between 0.57 and 0.95 per cent.

Limiting the rallies, some big stocks still faced strong sell-offs, such as Asia Commercial Joint Stock Bank (ACB), posting a decrease of 1.21 per cent, Vietnam Prosperity Joint Stock Commercial Bank (VPB), down 0.55 per cent and Becamex (BCM), losing 1.11 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index finished lower on Tuesday, declining 0.16 per cent, to 244.32 points.

During the session, VNĐ1.68 trillion worth of shares, equivalent to a trading volume of nearly 86.5 million shares, were traded on the northern market.

Foreign investors continued net selling of VNĐ134.39 billion on the HoSE.